Document:

Exhibit 10.147

EXECUTION
COPY

PURCHASE AND SALE AGREEMENT

SALE OF BRADLEY ASSOCIATES PORTFOLIO

TO

INLAND REAL ESTATE ACQUISITIONS, INC., 

AN ILLINOIS
CORPORATION

DATE: MAY 2, 2006

TABLE OF CONTENTS

 

	
  Section

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  CERTAIN DEFINITIONS

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  SALE OF PROPERTY

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  PURCHASE PRICE

  	
   

  	
  6

  
	
   

  	
   

  	
  3.1.

  	
   

  	
  Deposit Money

  	
   

  	
  6

  
	
   

  	
   

  	
  3.2.

  	
   

  	
  Reduction of Purchase Price for Excluded Parcels

  	
   

  	
  7

  
	
   

  	
   

  	
  3.3.

  	
   

  	
  Cash at Closing

  	
   

  	
  7

  
	
   

  	
   

  	
  3.4.

  	
   

  	
  Prepayment Charges

  	
   

  	
  7

  
	
   

  	
   

  	
  3.5.

  	
   

  	
  Management Agreement

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  TITLE MATTERS

  	
   

  	
  7

  
	
   

  	
   

  	
  4.1.

  	
   

  	
  Title and Survey Defects

  	
   

  	
   

  
	
   

  	
   

  	
  4.2.

  	
   

  	
  Title Insurance

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  BUYER’S DUE DILIGENCE/CONDITION OF THE PROPERTY

  	
   

  	
  9

  
	
   

  	
   

  	
  5.1.

  	
   

  	
  Buyer’s Inspections and Due Diligence

  	
   

  	
  9

  
	
   

  	
   

  	
  5.2.

  	
   

  	
  Termination of Agreement During Due Diligence Period

  	
   

  	
  9

  
	
   

  	
   

  	
  5.3.

  	
   

  	
  Property Sold “As Is”

  	
   

  	
  10

  
	
   

  	
   

  	
  5.4.

  	
   

  	
  Buyer’s Certificate

  	
   

  	
  10

  
	
   

  	
   

  	
  5.5.

  	
   

  	
  Survival

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  EXCLUDED PARCELS; PREPAYMENT RESTRICTED PARCELS

  	
   

  	
  11

  
	
   

  	
   

  	
  6.1.

  	
   

  	
  Exclusion of Parcels for Environmental Reasons

  	
   

  	
  11

  
	
   

  	
   

  	
  6.2.

  	
   

  	
  Exclusion of Parcels for ROFO Rights

  	
   

  	
  11

  
	
   

  	
   

  	
  6.3.

  	
   

  	
  Exclusion of Parcels by Reason of Condemnation or
  Casualty

  	
   

  	
  12

  
	
   

  	
   

  	
  6.4.

  	
   

  	
  Exclusion of Parcels by Reason of Failure of Tenant
  Estoppel Condition

  	
   

  	
  12

  
	
   

  	
   

  	
  6.5.

  	
   

  	
  Exclusion of Parcels by Reason of Inaccuracy in
  Representation or Warranty

  	
   

  	
  12

  
	
   

  	
   

  	
  6.6.

  	
   

  	
  Prepayment Restricted Parcels

  	
   

  	
  12

  
	
   

  	
   

  	
  6.7.

  	
   

  	
  Exclusion of
  Parcels by Reason of Failure to Cure Required Title Clearance Exceptions and
  Commercially Reasonable Title Objections

  	
   

  	
  13

  
	
   

  	
   

  	
  6.8.

  	
   

  	
  Exclusion of Parcels for Deferred Maintenance

  	
   

  	
  13

  
	
   

  	
   

  	
  6.9.

  	
   

  	
  TIC Consent Excluded Parcels

  	
   

  	
  14

  
	
   

  	
   

  	
  6.10.

  	
   

  	
  Ground Lease Parcels

  	
   

  	
  14

  
	
   

  	
   

  	
  6.11.

  	
   

  	
  Exclusion of Parcels for Slippage

  	
   

  	
  14

  
	
   

  	
   

  	
  6.12.

  	
   

  	
  Maximum Excluded Parcels

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
   

  	
  ADJUSTMENTS AND PRORATIONS

  	
   

  	
  15

  
	
   

  	
   

  	
  7.1.

  	
   

  	
  Lease Rentals and Other Revenues

  	
   

  	
  15

  
	
   

  	
   

  	
  7.2.

  	
   

  	
  Intentionally Omitted

  	
   

  	
  16

  
	
   

  	
   

  	
  7.3.

  	
   

  	
  Real Estate Taxes

  	
   

  	
  16

  
	
   

  	
   

  	
  7.4.

  	
   

  	
  Other Property Operating Expenses

  	
   

  	
  17

  
	
   

  	
   

  	
  7.5.

  	
   

  	
  Closing Costs

  	
   

  	
  18

  
	
   

  	
   

  	
  7.6.

  	
   

  	
  Cash Security Deposits

  	
   

  	
  18

  
	
   

  	
   

  	
  7.7.

  	
   

  	
  Apportionment Credit

  	
   

  	
  18

  
	
   

  	
   

  	
  7.8.

  	
   

  	
  Assumed Mortgages

  	
   

  	
  18

  
	
   

  	
   

  	
  7.9.

  	
   

  	
  Ground Lease

  	
   

  	
  19

  
	
   

  	
   

  	
  7.10.

  	
   

  	
  Delayed Adjustment; Delivery of Operating and Other
  Financial Statements

  	
   

  	
  19

  

 

 

	
  8.

  	
   

  	
  CLOSING

  	
   

  	
  19

  
	
   

  	
   

  	
  8.1.

  	
   

  	
  Closing Date

  	
   

  	
  19

  
	
   

  	
   

  	
  8.2.

  	
   

  	
  Title Transfer and Payment of Purchase Price

  	
   

  	
  20

  
	
   

  	
   

  	
  8.3.

  	
   

  	
  Seller’s Closing Deliveries

  	
   

  	
  20

  
	
   

  	
   

  	
  8.4.

  	
   

  	
  Buyer’s Closing Deliveries

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
   

  	
  CONDITIONS TO CLOSING

  	
   

  	
  22

  
	
   

  	
   

  	
  9.1.

  	
   

  	
  Conditions to Seller’s Obligations

  	
   

  	
  22

  
	
   

  	
   

  	
  9.2.

  	
   

  	
  Conditions to Buyer’s Obligations

  	
   

  	
  23

  
	
   

  	
   

  	
  9.3.

  	
   

  	
  Waiver of Failure of Conditions Precedent

  	
   

  	
  23

  
	
   

  	
   

  	
  9.4.

  	
   

  	
  Approvals not a Condition to Buyer’s Performance

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
   

  	
  REPRESENTATIONS AND WARRANTIES

  	
   

  	
  24

  
	
   

  	
   

  	
  10.1.

  	
   

  	
  Buyer’s Representations

  	
   

  	
  24

  
	
   

  	
   

  	
  10.2.

  	
   

  	
  Seller’s Representations

  	
   

  	
  24

  
	
   

  	
   

  	
  10.3.

  	
   

  	
  General Provisions

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
   

  	
  COVENANTS

  	
   

  	
  28

  
	
   

  	
   

  	
  11.1.

  	
   

  	
  Buyer’s Covenants

  	
   

  	
  28

  
	
   

  	
   

  	
  11.2.

  	
   

  	
  Seller’s Covenants

  	
   

  	
  28

  
	
   

  	
   

  	
  11.3.

  	
   

  	
  Mutual Covenants

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
   

  	
  SATISFACTION OF CONDITIONS PRECEDENT AND DEFAULT

  	
   

  	
  30

  
	
   

  	
   

  	
  12.1.

  	
   

  	
  Seller’s Conditions Precedent

  	
   

  	
  30

  
	
   

  	
   

  	
  12.2.

  	
   

  	
  Buyer’s Default

  	
   

  	
  30

  
	
   

  	
   

  	
  12.3.

  	
   

  	
  Buyer’s Conditions Precedent

  	
   

  	
  31

  
	
   

  	
   

  	
  12.4.

  	
   

  	
  Seller’s Default

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13.

  	
   

  	
  CONDEMNATION/CASUALTY

  	
   

  	
  31

  
	
   

  	
   

  	
  13.1.

  	
   

  	
  Condemnation

  	
   

  	
  31

  
	
   

  	
   

  	
  13.2.

  	
   

  	
  Destruction or Damage

  	
   

  	
  32

  
	
   

  	
   

  	
  13.3.

  	
   

  	
  Insurance

  	
   

  	
  33

  
	
   

  	
   

  	
  13.4.

  	
   

  	
  Waiver

  	
   

  	
  33

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  14.

  	
   

  	
  ESCROW

  	
   

  	
  33

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  15.

  	
   

  	
  LEASING MATTERS

  	
   

  	
  34

  
	
   

  	
   

  	
  15.1.

  	
   

  	
  New Leases; Lease Modifications

  	
   

  	
  34

  
	
   

  	
   

  	
  15.2.

  	
   

  	
  Lease Enforcement 

  	
   

  	
  34

  
	
   

  	
   

  	
  15.3.

  	
   

  	
  Intentionally Omitted

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16.

  	
   

  	
  MISCELLANEOUS

  	
   

  	
  34

  
	
   

  	
   

  	
  16.1.

  	
   

  	
  Assignment

  	
   

  	
  34

  
	
   

  	
   

  	
  16.2.

  	
   

  	
  Designation Agreement

  	
   

  	
  35

  
	
   

  	
   

  	
  16.3.

  	
   

  	
  Survival/Merger

  	
   

  	
  35

  
	
   

  	
   

  	
  16.4.

  	
   

  	
  Integration; Waiver

  	
   

  	
  35

  
	
   

  	
   

  	
  16.5.

  	
   

  	
  Governing Law

  	
   

  	
  36

  
	
   

  	
   

  	
  16.6.

  	
   

  	
  Captions Not Binding; Exhibits

  	
   

  	
  36

  
	
   

  	
   

  	
  16.7.

  	
   

  	
  Binding Effect

  	
   

  	
  36

  
	
   

  	
   

  	
  16.8.

  	
   

  	
  Severability

  	
   

  	
  36

  
	
   

  	
   

  	
  16.9.

  	
   

  	
  Notices

  	
   

  	
  36

  
	
   

  	
   

  	
  16.10.

  	
   

  	
  Counterparts

  	
   

  	
  37

  
	
   

  	
   

  	
  16.11.

  	
   

  	
  No Recordation

  	
   

  	
  37

  
	
   

  	
   

  	
  16.12.

  	
   

  	
  Additional Agreements; Further Assurances

  	
   

  	
  37

  
	
   

  	
   

  	
  16.13.

  	
   

  	
  Interpretation and Construction

  	
   

  	
  37

  
	
   

  	
   

  	
  16.14.

  	
   

  	
  Business Day

  	
   

  	
  38

  

 

 ii
 

 

	
  

  	
   

  	
  16.15.

  	
   

  	
  Maximum Aggregate Liability

  	
   

  	
  38

  
	
   

  	
   

  	
  16.16.

  	
   

  	
  JURISDICTION

  	
   

  	
  38

  
	
   

  	
   

  	
  16.17.

  	
   

  	
  WAIVER OF JURY TRIAL

  	
   

  	
  38

  
	
   

  	
   

  	
  16.18.

  	
   

  	
  Facsimile Signatures

  	
   

  	
  39

  
	
   

  	
   

  	
  16.19.

  	
   

  	
  1031 Exchange

  	
   

  	
  39

  
	
   

  	
   

  	
  16.20.

  	
   

  	
  Seller’s Audit

  	
   

  	
  39

  

 

 iii
 

EXHIBITS

	
  Exhibit A

  	
   

  	
  List of Contracts

  
	
  Exhibit B

  	
   

  	
  Form of As-Is Certificate and Agreement

  
	
  Exhibit C

  	
   

  	
  Form of Deed

  
	
  Exhibit D

  	
   

  	
  Form of Bill of Sale

  
	
  Exhibit E

  	
   

  	
  Form of Assignment of Leases

  
	
  Exhibit F

  	
   

  	
  Form of Assignment of Intangible Property

  
	
  Exhibit G

  	
   

  	
  Form of Notice to Tenants

  
	
  Exhibit H

  	
   

  	
  Form of FIRPTA Affidavit

  
	
  Exhibit I

  	
   

  	
  Notices of Litigation, Governmental Violations and
  Condemnation

  
	
  Exhibit J

  	
   

  	
  Access Agreement

  
	
  Exhibit K

  	
   

  	
  Schedule of Personal Property

  
	
  Exhibit L

  	
   

  	
  List of Tenants and Rent Roll

  
	
  Exhibit M

  	
   

  	
  Form of Notice to Vendors

  
	
  Exhibit N

  	
   

  	
  Form of Tenant Estoppel Certificate

  
	
  Exhibit O

  	
   

  	
  Form of ALTA Survey Certification

  
	
  Exhibit P

  	
   

  	
  Audit Letter

  

 

 iv

SCHEDULES

	
  Schedule 1

  	
   

  	
  Identification for Each Parcel of Allocated Purchase
  Price

  
	
   

  	
   

  	
   

  
	
  Schedule 2

  	
   

  	
  Identification of Prepayment Restricted Parcels,
  Identity of Parcel Owners, and Parcel Owner’s FEIN

  

 

PURCHASE AND SALE
AGREEMENT

THIS PURCHASE AND SALE AGREEMENT (“Agreement”)
is made effective as of May 2, 2006, by Bradley Associates Limited Partnership, an Illinois limited partnership (“Bradley”), on behalf of parties identified on Schedule
2 as Sellers of Parcels (“Parcel Owners”) (Bradley and the Parcel
Owners are collectively referred to as “Seller”), and INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Buyer”).

R E C I T A L S:

In consideration of the mutual covenants and
agreements set forth, the parties agree as follows:

1.        CERTAIN DEFINITIONS

As used in this Agreement, the following terms have
the following meanings:

“Allocated
Purchase Price” means that
portion of the Purchase price that has been allocated to a particular
Parcel, which allocation shall be made pursuant to Section 3 hereof.

“Access
Agreement” means that
certain agreement between Seller and Buyer attached as Exhibit J
the terms of which shall continue and be fully applicable during the term of
this Agreement.

“Buyer’s Representatives” means
Buyer, its partners and members, and any officers, directors, employees,
agents, representatives and attorneys of Buyer, its partners or members.

“Buyer’s Requested Title Endorsements”
means the following endorsements to the extent they are
available in the jurisdiction in which any applicable Parcel is located: (i)
zoning (ALTA 3.1 with parking and loading
dock coverage, or equivalent); (ii) access; (iii) survey (legal description
equivalency) (or, for Parcels in Texas, modification of the survey exception to
read “shortages in area”); (iv) separate tax
parcel; (v) contiguity (if applicable); (vi) waiver of creditor’s rights; (vii) encroachment (if applicable); (viii)
utility facility (to the extent it can be obtained without obtaining letters from local utilities);
(ix) location; (x) deletion of arbitration provision; (xi) owners
comprehensive (ALTA 9 or equivalent, or T-19 for parcels in Texas); (xii)
subdivision; (xiii) Fairway; and (xiv)
environmental protection lien.

“Closing” means the
closing of the Transaction.

“Closing Date” means
that date which will occur thirty (30) days following the end of the Title Review Period, or such other date on which
Seller and Buyer may mutually agree for closing of the Transaction, or such later date as the Closing may be
extended to pursuant to the provisions of this Agreement; provided, however,
that upon written notice to Buyer, Seller shall have the right to extend
the Closing Date by up to thirty (30) days in order to fulfill Seller’s obligations hereunder provided Seller is using
commercially reasonable efforts to do so.

“Closing Tax Year” means
the Tax Year in which the Closing Date occurs.

“Commencement
Date” means the date of
this Agreement.

“Commercially Reasonable Title
Objections” means any objection to the Title Commitment and
Survey which is based upon the following: (i) an encroachment of the
improvements (other than non-structural parking area or landscaping encroaching
onto an easement) within a Parcel onto an easement and/or off of the Parcel
(and Buyer agrees to accept, as a cure for such objection, the issuance of an
encroachment endorsement) and if such Parcel is in a jurisdiction in which an
encroachment endorsement is not available, such encroachment is not de minimus; (ii) the Parcel does not have access to
a public way directly or

through recorded easements (and Buyer agrees to accept as a cure for
such objection an access endorsement); (iii) the legal description in the Title
Commitment does not match the legal
description in the Survey (and Buyer agrees to accept as a cure for such
objection a legal-same-as-survey
endorsement) and if such Parcel is in a jurisdiction where a legal-same-as-survey endorsement is not available, such
discrepancy is not de minimus language differences; (iv) a zoning 3.1 endorsement cannot be obtained
for the Parcel or shows a violation of the zoning laws (other than legal
non-conforming use) or in those jurisdictions in which such an endorsement is
not available, a zoning report (such as a PZR report) cannot be obtained or
shows a violation of the zoning laws (other than legal non-conforming use); (v)
an inability to obtain a restrictions (or similar) endorsement (which
can be in the form of the owner’s comprehensive
endorsement) or an estoppel under any instrument that imposes use restrictions,
building criteria or financial obligations on the Parcel that (1) confirms
there are no violations of any use or
building restrictions under such instrument unless Buyer actually knows that
such violation does not exists and (2) confirms there are no past due monetary
obligations under such instrument which
would be binding on Buyer as a subsequent purchaser; (vi) the Parcel shares a
tax identification number with a party that is not Seller or a Parcel Owner hereunder
(and Buyer agrees to accept, as a cure for such objection, the issuance of an
tax parcel endorsement); (vii) the Parcel contains more than one parcel and
such parcels are not contiguous to
each other (and Buyer agrees to accept, as a cure for such objection, the issuance of a contiguity endorsement); (viii) the
Parcel does not meet the minimum parking requirements set forth in
tenant leases and/or covenants applicable to the Parcel; (ix) there are memoranda of leases recorded against the Parcel that
are not Leases (other than parties that are in actual possession of any portion
of a Parcel as subtenants, licensees or assignees of a tenant under a
Lease); (xii) the Survey does not meet the Survey Requirements; (x) the Survey does not contain the Survey Certification; (xi)
the Parcel is subject to roll back taxes that have not been assessed and/or paid and such taxes are
not the responsibility of the tenant under the Lease for such Parcel;
(xii) any Required Clearance Liens that are in excess of the Seller Cure Limit; or (xiii) Buyer is unable to obtain the
following endorsements (to the extent that such endorsements are
available in the jurisdiction in which any applicable Parcel is located) (A) utility facility (to the extent it can be
obtained without obtaining letters from local utilities or other third parties), (B) deletion of arbitration
provision, (C) owners comprehensive (ALTA 9.2 or equivalent or T-19 for
Parcels in Texas), (D) subdivision, (E) environmental protection lien, and (E)
waiver of creditor’s rights to the extent it can be obtained without providing
individual Parcel Owner financial statements
(unless they otherwise exist) and provided that Buyer shall be responsible for providing the appraisal and
operating expense information to the Title Company.

“Confidentiality
Agreement” means that
certain confidentiality agreement dated February 10, 2006 by and between
JP Morgan Securities Inc., on behalf of Bradley Associates L.P. and The Inland Real Estate Investment
Corporation.

“Contracts” means
all service, supply, maintenance and utility agreements, all equipment leases,
and all other contracts, subcontracts and agreements entered into by or on
behalf of Seller or the Parcel Owner and relating to the Real Property and the
Personal Property, all of which have been made available to Buyer on the
Intralinks site, and any additional contracts, subcontracts and agreements
entered into in accordance with the terms of Section
11.2(a) of this Agreement.

“deemed to know” (or
words of similar import) has the following meaning: (a) Buyer is “deemed to
know” of the existence of a fact or circumstance to the extent that such fact
or circumstance is disclosed by this Agreement, the Documents, or any studies,
tests, reports, or analyses prepared by or for or otherwise obtained by Buyer
or Buyer’s Representatives in connection with a portion of the Property; and
(b) Buyer is “deemed to know” that a

 2
 

representation or warranty of Seller is untrue, inaccurate or incorrect
to the extent that this Agreement, the Documents, or any studies, tests,
reports or analyses prepared by or for or otherwise obtained by Buyer or Buyer’s
Representatives in connection with any portion of the Property contains
information which is inconsistent with such representation or warranty.

“Documents” means
the documents and instruments applicable to the Property or any portion thereof that Seller or any of the other
Seller Parties deliver or make available to Buyer prior to Closing or
otherwise allow Buyer access to prior to Closing, including, but not limited
to, the Title Commitment, the Survey, the Title Documents, and the Property
Documents.

“Due Diligence” means
examinations, inspections, tests, studies, analyses, appraisals, evaluations
and/or investigations with respect to the any portion of the Property, the
Documents, and other information and documents regarding any portion of the
Property, including, without limitation,
examination and review of title matters, applicable land use and zoning Laws
and other Laws applicable to any portion of the Property, the physical
condition of any Parcel, and the economic or financial characteristics
of any Parcel.

“Due Diligence Period” means
the period commencing on the Commencement Date and expiring forty five (45)
days after the Commencement Date.

“End of the Due
Diligence Period” means
5:00 p.m. Central Daylight Savings Time on the last day of the Due
Diligence Period. If such day is not a business day, then the End of the Due Diligence Period shall occur at 5:00 p.m.
Central Daylight Savings Time on the next succeeding business day.

“Escrow Agent” means Chicago Title and Trust Company, whose
mailing address is 171 N. Clark Street, Chicago, Illinois 60601,
Attention: Nancy Castro, in its capacity as escrow agent.

“Financial Advisor” means
JPMorgan Securities, Inc.

“Ground Lease” means any lease with respect to which the Parcel
Owner is a tenant and by or through which it derives any right, title or
interest in and to a Parcel.

“Ground Lease Parcel” means
any parcel for which there is a Ground Lease.

“intentional
misrepresentation” means a
representation or warranty (i) that was inaccurate in a material respect
when made and (ii) that the maker of the representation or warranty had
conscious knowledge was inaccurate in a material respect when made.

“Intralinks Website” means
https://services.intralinks.com/logon.html.

“Laws” means all
municipal, county, State or Federal statutes, codes, ordinances, laws, rules or regulations.

“Leases” means all leases on the Closing Date for tenants
of the Real Property, not including any subleases, licenses or occupancy
agreements that any tenants may have entered into for such Real Property.

“New Leases” means,
collectively, any lease for space at the Property entered into between the
Commencement Date and the Closing Date.

“Other Property
Rights” means,
collectively, Seller’s interest in and to all of the following: (a) to
the extent that the same are in effect as of the Closing Date, any licenses,
permits and other written authorizations necessary for the use, operation or
ownership of the Real Property, and (b) to the extent assignable, those
guaranties and warranties in effect with respect to any right to any portion of
the Property as of the Closing Date.

 3
 

“Parcel” means an individual parcel that is a portion of the
Property and is listed separately on Schedule 1 hereto and which are
legally described in the existing title policies for such Parcels posted on the
Intralinks Website.

“Permitted
Exceptions” means and
include all of the following: (a) applicable zoning and building
ordinances and land use regulations, (b) such state of facts as would be
disclosed by a physical inspection of the Property, (c) the lien of taxes and
assessments not yet due and payable, (d) any
exceptions to title created by or resulting from persons claiming an interest
in the Property through Buyer, its agents, representatives or employees,
(e) such other exceptions to title as the Title Company shall commit to insure
over, without any additional cost to Buyer, whether
such insurance is made available in consideration of payment, bonding,
indemnity of Seller or otherwise, (f) the rights of the tenants under the
Leases, and (g) any matters deemed to
constitute additional Permitted Exceptions under Section 4.1(a) of this
Agreement.

“Personal Property” means,
collectively, (a) all tangible personal property owned by Seller located on the Real Property and used in
the ownership, operation and maintenance of the Real Property including
but not limited to that tangible personal property listed on Exhibit K attached
to this Agreement, and (b) all non-confidential books, records and files
maintained by Seller’s property manager at the Property relating to the Real
Property; but excluding therefrom: (i) any computer software or programs which
are either licensed to Seller or Seller’s property manager or which Seller or Seller’s property manager deem proprietary;
and (ii) any appraisals, budgets,
strategic plans for the Real Property, internal analyses, information regarding
the marketing of the Property for sale, submissions relating to Seller’s
obtaining of corporate authorization, attorney and accountant work
product, and attorney-client privileged documents.

“Prepayment
Restricted Parcel” means a
Parcel designated as a “Prepayment Restricted
Parcel on Schedule 2.

“Prepayment Restricted Parcel Closing”
means the closing of the Transaction with respect to the
Prepayment Restricted Parcels.

“Prepayment
Restricted Parcel Closing Date” means that date which is five (5) business days after Buyer and Seller have obtained the required consents
and assumptions from the lender on
such parcel, provided, however, that in no event shall such date be more than
six (6) months following the Closing Date.

“Property” means, collectively, (a) the Real Property, (b)
the Personal Property, (c) Seller’s interest as landlord in all Leases,
(d) the Contracts, (e) the interest of the lessor under each of the Ground
Leases, and (f) the Other Property Rights.

“Property Documents” means,
collectively, (a) the Leases, (b) the Contracts, (c) any other documents or instruments which constitute or
otherwise create any portion of the Property, and (d) all documents and
items made available to Buyer on the Intralinks website.

“Real Property” means, collectively, the 67 Parcels, together with
all buildings, improvements and fixtures located thereon and owned by
Seller as of the Closing Date and all related rights, privileges and
appurtenances pertaining thereto including all of Seller’s right, title and
interest in and to all rights-of-way, open or proposed streets, alleys,
easements, and strips or gores of land
adjacent thereto.

“Rents” means all base rents, percentage rents,
additional rent and any tax and operating expense reimbursements and
escalations due from the tenants of the Property under the Leases.

“Required
Clearance Liens” means
collectively those mechanics’ or materialmen’s liens and other liens evidencing monetary encumbrances (other than liens
for non-delinquent

 4
 

general real estate taxes and other than liens
caused by and/or arising by or through the tenant(s) under the Leases if such tenant(s) are obligated to remove
such matters under their Lease) which can be removed by payment of
liquidated amounts not to exceed the Seller Cure Limit.

“Required Title Clearance Exceptions”
means the following to the extent (and only to the extent)
that such matters have not been caused by Buyer, its agents, representatives or
employees, (A) mortgage financing documentation (other than Prepayment
Restricted Parcels), (B) Required Clearance
Liens, or (C) easements created or suffered to exist by Seller or its agents and affiliates but only to the extent such
easements are created after the Commencement
Date.

“Seller Cure
Limit” means the sum of
$50,000.00 for each Parcel, which sum is the aggregate amount available
to cure (i) the Required Clearance Liens, but only those Required Clearance Liens arising in connection with such
Parcel; and (ii) material breaches of Seller’s Warranties subject to
Section 10 hereof.

“Seller Parties” means
and include, collectively, (a) Seller; (b) its counsel; (c) Financial Advisor;
(d) Seller’s property manager; (e) any direct or indirect equity owner,
officer, director, employee, or agent of
Seller, its counsel, Financial Advisor or Seller’s property manager; and (f) any
other entity or individual affiliated or related in any way to any of the
foregoing.

“Seller’s
Warranties” means Seller’s
representations and warranties set forth in Section 10.2 of this Agreement and in any documents executed by Seller
for the benefit of Buyer in
connection with Closing.

“Survey” means, collectively, the surveys to be obtained
pursuant to Section 4.1(b) hereof.

“Survey Certification” means
that certification set forth on Exhibit O hereto.

“Survey Requirements” means
the 2005 Minimum Standard Detail Requirements of ALTA/ACSM Land Title Surveys, jointly established and adopted by the
American Land Title Association and the National Society of Professional
Surveyors, including Table “A” items 1, 2, 3, 4, 6, 7(a), 7(b)(1), 7(c), 8, 9,
10, 11(a), 16, 17 and 18 therein.

“Tax Year” means, for any Parcel, the real estate tax
assessment year for the county in which such Parcel is located.

“Title Commitment” means,
collectively, (i) with respect to the Parcels which are not Ground Lease
Parcels, the commitments to issue an Owner’s Policy of Title Insurance and,
(ii) with respect to the Ground Lease Parcels, a Leasehold Policy of Title
Insurance, which will be obtained by Seller
and made available to Buyer pursuant to Section 4.1(a) of this Agreement on the
Title Company’s website at http://chicago.ctnbg.com/login.asp, Reference:
Bradley.

“Title Company” means
Chicago Title Insurance Company.

“Title Documents”
means all recorded
documents referred to on Schedule B of the Title Commitment as exceptions to coverage and any other recorded
documents that have been made available to Buyer on the Title Company’s
website at http://chicago.ctnbg.com/login.asp, Reference: Bradley.

“Title Review Commencement Date” means
the first business day after the expiration of
the Due Diligence Period provided Buyer has not terminated this Agreement
pursuant to Section 5.2; provided, however that Buyer shall have the
right (without any obligation so to do) to
require the Title Review Commencement Date to occur prior to the date set forth
above as

 5
 

long as Buyer agrees in writing to pay for the
cost of the Surveys in the event the Buyer terminates this Agreement pursuant to Section 5.2.

“Title Review
Period” means for each
Parcel that period ending ten (10) business days after Buyer has
received the last of the Title Commitment or Survey for such Parcel and for all
Parcels that period ending ten (10) business days after Buyer has received the
last of the Title Commitment and Survey for
all Parcels.

“Transaction” means the purchase and sale transaction
contemplated by this Agreement.

2.        SALE
OF PROPERTY

Seller agrees to sell, transfer
and assign, and Buyer agrees to purchase, accept and assume, subject to the
Permitted Exceptions and the terms and conditions set forth in this Agreement
and the Exhibits attached hereto, all of Seller’s right, title and interest in
and to the Property. The obligations of the individual Parcel Owners comprising
Seller is several (not joint and several)
obligations, and no such individual Parcel Owner is liable for any obligation
of Seller under this Agreement
relating to any Parcel other than the Parcel owned by such individual Parcel Owner. References to the “Property”
are interpreted as if followed by the words “or the applicable Parcel, as
appropriate.”

3.        PURCHASE
PRICE

The purchase price (the “Purchase Price”) to
be paid by Buyer for the purchase of the 67
Parcels comprising the Property is Seven Hundred Ten Million Dollars
($710,000,000), provided, however, that the Purchase Price shall be reduced by
the amount, if any, that the Prepayment
Charges (as defined in Section 3.4) are less than Thirty Million Dollars ($30,000,000). Within five (5) business days
following the Commencement Date, Buyer shall prepare and submit to
Seller its proposed allocation of the Purchase Price among the Parcels. When the parties have agreed on the allocation of
the Purchase Price, Seller shall amend Schedule 1 to reflect the
Allocated Purchase Price of all Parcels. If the parties are unable to agree on
the allocation of the Purchase Price within ten (10) business days following
the Commencement Date (as such date
may be mutually extended by Buyer and Seller), then either party may elect to terminate this Agreement
in its entirety by written notice to the other party, in which event the
Deposit shall be delivered to Buyer.

The Purchase Price is payable in
the following manner:

3.1.     Deposit Money

Upon the full and final execution of this Agreement
and as a condition precedent to the effectiveness
of this Agreement, Buyer shall deposit the sum of Two Million Five Hundred
Thousand Dollars ($2,500,000) in immediately available funds as an initial
deposit with the Escrow Agent (the “Initial
Deposit”). Upon the expiration of the Due Diligence Period,
unless Buyer has elected to terminate this Agreement in the exercise of Buyer’s
rights under Section 5.2 of this Agreement, Buyer shall deposit with the Escrow
Agent an additional sum equal to Seven Million Five Hundred Thousand Dollars
($7,500,000) in immediately available funds as an additional deposit (the “Additional
Deposit”). The
Initial Deposit and the Additional Deposit are collectively referred to
as the “Deposit.” The
Deposit will be held and delivered by Escrow Agent
in accordance with the provisions of Section 14. Any interest earned on the
Deposit will be considered a part of
the Deposit. Except as otherwise set forth in this Agreement, the Deposit will be applied against the Allocated
Purchase Price for each Parcel (in the same proportion that the
Allocated Purchase Price for a given Parcel bears to the Purchase Price) on the
Closing Date for that Parcel.

 6
 

3.2.     Reduction of Purchase Price for Excluded
Parcels

In the event that a Parcel is
designated as a Parcel to be deleted from the Property in the exercise of Buyer’s
or Seller’s rights under this Agreement, that Parcel shall constitute an “Excluded Parcel,” and: (i) Seller
shall have the authority to amend Schedule 1 to delete that Excluded Parcel from the definition of Property
under this Agreement and from all other provisions of this Agreement,
and (ii) the Purchase Price shall be reduced by an amount equal to the amount
of the Allocated Purchase Price listed on Schedule 1 for that Parcel.

3.3.     Cash
at Closing

On the Closing Date, Buyer shall
pay to Seller an amount equal to the Purchase Price for the Parcels to be conveyed to Buyer at the
Closing, subject to the prorations and adjustments set forth in Section 8 or as otherwise
provided under this Agreement, plus any other amounts required to
be paid by Buyer at Closing, in immediately available funds by wire transfer as more particularly set forth in Section
8.2. On the Prepayment Restricted Closing Date, Buyer shall pay to Seller an amount equal to the Purchase Price
for the Prepayment Restricted
Parcels to be conveyed to Buyer at the Prepayment Restricted Closing, subject
to the prorations and
adjustments set forth in Section 8 or as otherwise provided under this Agreement, plus any other amounts required
to be paid by Buyer at the Prepayment Restricted Parcel Closing, in
immediately available funds by wire transfer as more particularly set forth in Section 8.2.

3.4.     Prepayment Charges

Buyer agrees that obtaining
financing for Buyer’s purchase of any Parcel is not a condition to Buyer’s obligations to close this
Transaction. Except for any Prepayment Restricted
Parcels which Buyer does not elect to exclude pursuant to Section 6.6 of this Agreement, at Closing, Seller will convey the
Parcels free and clear of all mortgage indebtedness
provided for in any note or other evidence of indebtedness (“Note”) secured by a mortgage, deed of trust or other financing
agreement encumbering title to a Parcel (“Mortgage”), including any and all defeasance costs, charges,
premiums or other charges (“Prepayment Charges”) due in connection
therewith; provided, however, that Seller’s obligation shall be
conditioned upon receipt of the Purchase Price and Seller is entitled to use the proceeds of the Purchase Price to make such
payments. Following the conclusion of the Due Diligence Period, if Buyer
has deposited the Additional Deposit with Escrow Agent, Seller agrees to exercise its prepayment rights with
respect to all Notes and Mortgages in accordance with the terms thereof.
If the total Prepayment Charges are less than $30,000,000, then at the Closing, the Purchase Price shall be reduced by
the sum of (i) $30,000,000.00, minus (ii) the Prepayment Charges payable in connection with all of the Parcels that
are not excluded pursuant to this
Agreement.

3.5.     Management Agreement

At the Closing, Buyer shall cause the grantees under
the Deeds of the Parcels to enter into a
Management Agreement with an entity to be designated by Seller (the “Management Agreement”), which Management Agreement
shall have a term of two (2) years, shall provide for a management fee in the
amount of two percent (2%) of the gross revenue of the managed property and
shall be substantially in the form agreed to by Seller and Buyer. Within thirty
(30) days following the Commencement Date,
Buyer and Seller shall agree to a form of Management Agreement. If the
parties are unable to agree to a form of Management Agreement within such period, then either party may elect to terminate
this Agreement in its entirety by written notice to the other party, in
which event the Deposit shall be delivered to Buyer.

 7
 

4.        TITLE MATTERS

4.1.     Title and Survey Defects.

(a)       Certain Exceptions to Title and
Survey. On or before the Title Review Commencement Date, Seller shall cause
the Title Company to obtain a Title Commitment for each Parcel and post such
Title Commitment along with a copy of each of the Title Documents to be posted
to the Title Company’s website at http://chicago.ctnbg.com. Within five
(5) days after the Title Review Commencement Date, Seller shall order the
Surveys, which surveys shall conform to the Survey Requirements and shall be
certified to Buyer, Buyer’s lender, the Title Company and Seller in the form of
the Survey Certification. Other than Permitted Exceptions, Buyer has the right
to object in writing to any matters shown on the Title Commitment and the
Survey including obtaining the Buyer’s Requested Title Endorsements (in this
Agreement collectively called the “Title
Objections”) on or
before the expiration of the Title Review Period. Any matters shown on the Title
Commitment and the Survey that Buyer does not timely object to as set forth
above are deemed to constitute additional “Permitted
Exceptions”. Seller shall, at Closing, remove or cause to be removed
any Required Title Clearance Exceptions. In addition, Seller may elect (but
shall not be obligated) to remove, or cause to be removed at its expense, (1)
any Required Clearance Liens in excess of the Seller Cure Limit and/or (2) any
other Title Objections (collectively (1) and (2) above are referred to as the “Chosen
Title Objections”). Seller shall notify Buyer in writing within five (5)
business days after receipt of Buyer’s notice of Title Objections which of such
Title Objections, if any, are Chosen Title Objections. Seller is entitled to a
reasonable adjournment of the Closing (not to exceed thirty (30) days) for the
purpose of the removal of any Required Title Clearance Exceptions or Chosen
Title Objections, which removal will be deemed effected by the issuance of
title insurance eliminating or insuring against the effect of such Title
Objections (including through the issuance of an endorsement). If Seller elects
not to remove or endorse over any Title Objections which are Commercially
Reasonable Title Objections which pertain to a Parcel, Buyer may elect to
either (i) exclude that Parcel from the Real Property by notice given to Seller
within five (5) business days after receipt of Seller’s election of Chosen
Title Objections, in which event the Purchase Price shall be reduced as
provided in Section 6.7, or (ii) waive such Title Objections, in which
event such Title Objections will be deemed additional “Permitted Exceptions” and the Closing
shall occur as in this Agreement provided without any reduction of or credit
against the Purchase Price. If prior to Closing Seller is unable to remove or
endorse over any Required Title Clearance Exceptions or any Chosen Title
Objections, Buyer may elect to either (x) exclude that Parcel from the Real
Property by notice given to Seller within five (5) business days after receipt
of notice from Seller that Seller is unable to remove orendorse over any Required Title Clearance
Exceptions or Chosen Title Objections, in which event the Purchase Price shall
be reduced as provided in Section 6.7, or (y) waive such Title Objections,
in which event such Required Title Clearance Exceptions or Chosen Title
Objections will be deemed additional “Permitted
Exceptions” and the Closing shall occur as in this Agreement
provided without any reduction of or credit against the Purchase Price.
Regardless of whether any such Title Objection is a Required Title Clearance
Exception and/or a Chosen Title Objection and without limiting the Seller’s and
Buyer’s rights and obligations as set forth above, Seller agrees to use its commercially reasonable
efforts to obtain an estoppel from the other party to any instrument of record against a Parcel that
imposes use restrictions, building criteria or financial obligations on the
Parcel which estoppel (1) confirms there are no violations of any use or building restrictions under such
instrument and (2) confirms there are no past

 8
 

due monetary obligations under such instrument which would be binding
on Buyer as a subsequent purchaser.

(b)       Discharge of Title Objections. If on the Closing Date
there are any Required Title
Clearance Exceptions or any Chosen Title Objections, Seller may use any portion of the Purchase Price to satisfy the same,
provided Seller shall either (i) deliver to Buyer at the Closing
instruments in recordable form and sufficient to cause such Title Objections to be released of record, together with
the cost of recording or filing such instruments,
or (ii) cause the Title Company to insure over the same, without any additional cost to Buyer (other than the cost of
the Buyer’s Requested Title Endorsements),
whether such insurance is made available in consideration of payment, bonding, indemnity of Seller or otherwise. Any
Chosen Title Objection that can be cured
by the issuance of an endorsement that is one of the Buyer’s Requested Title Endorsements
shall remain the Buyer’s cost to obtain and Seller’s agreement to cure such
Chosen Title Objection through the issuance of such endorsement shall not shift
the cost of such endorsement to
Seller.

4.2.     Title Insurance

At Closing, the Title Company
shall issue to Buyer an ALTA 1992 Form B owner’s title insurance policy (or 1979 form where the 1992
form is not available or the Texas Department of Insurance form for those
Parcels in Texas or the state mandated forms for those Parcels in New York
and New Mexico) with respect to each Parcel with extended coverage endorsements
over the standard printed exceptions where
available (and with respect to Parcels in Texas, modification of the survey exception to “shortages in area”) including
those of the Buyer’s Requested Endorsements that are Chosen Title Objections,
in the amount of the Allocated Purchase Price, insuring that fee simple title
to each Parcel (or, in case of the Ground Lease Parcels, a Leasehold
Title Policy insuring the leasehold estate of the assignee) is vested in the grantee designated by Buyer, subject to the
Permitted Exceptions (collectively, the “Owner’s
Title
Policy”). During the Title Review
Period, Buyer is entitled to request that the Title Company provide such other endorsements or
amendments to the Owner’s Title Policy as Buyer may require, including any of the Buyer’s Requested Endorsements,
provided that (i) such endorsements or amendments are at no cost to, and
shall impose no additional liability on, Seller, and (ii) except for those
endorsements that are required to remove Chosen Title Objections or Required
Title Clearance Exceptions, Buyer’s obligations under this Agreement shall not
be conditioned upon Buyer’s ability to obtain such endorsements or amendments
and, (iii) the Closing shall not be delayed as a result of Buyer’s request.

5.        BUYER’S DUE DILIGENCE/CONDITION OF THE PROPERTY

5.1.     Buyer’s
Inspections and Due Diligence

Buyer acknowledges that during the
Due Diligence Period, Buyer shall conduct such Due Diligence as Buyer deems necessary or appropriate.

5.2.     Termination of Agreement During Due
Diligence Period

If Buyer is not reasonably satisfied with the results
of its Due Diligence during the Due Diligence Period, Buyer may terminate this
Agreement in its entirety by written notice to Seller given in accordance with
the provisions of Section 16.9 of this Agreement at any time prior to 5:00 p.m.
Central Daylight Savings Time on the last business day of the Due Diligence
Period (the “End
of the Due Diligence Period”), and, in the event of such
termination, neither Seller nor Buyer have any liability under this
Agreement except for those obligations which expressly survive the termination
of this Agreement. In the event that Buyer has elected not to terminate this Agreement prior to the End of the Due
Diligence Period, then Buyer shall deposit the

 9
 

Additional Deposit with Escrow Agent on or before the End of the Due
Diligence Period. In the event Buyer fails to
terminate this Agreement prior to the End of the Due Diligence Period, Buyer is deemed to have waived its rights to
terminate this Agreement during the Due Diligence Period in accordance with this Section 5 (but shall
not be deemed to have waived any of its rights to exclude Parcels
pursuant to and in accordance with Sections 6.3 (condemnation and casualty), 6.4 (estoppel), 6.5 (breach of Seller’s
representations), 6.6(b) (Prepayment Restricted Parcels) and 6.7 (title and survey)), and Buyer shall be required to
deposit the Additional Deposit with Escrow Agent on or before the End of
the Due Diligence Period.

5.3.     Property Sold “As Is”.

(a)       Without limiting Buyer’s rights under this Agreement to
designate one or more Parcels as Excluded
Parcels pursuant to and in accordance with Section 6 hereof, Buyer acknowledges and agrees that (i) the
Property is being sold, and Buyer shall accept possession of the
Property on the Closing Date, or at the Prepayment Restricted Parcel Closing Date, as the case may be, “AS IS,
WHERE IS, WITH ALL FAULTS”, with no right of setoff or reduction in the
Purchase Price; (ii) except for Seller’s Warranties, none of the Seller Parties have or is deemed to have made any verbal or
written representations, warranties,
promises or guarantees (whether express, implied, statutory or otherwise) to Buyer with respect to the
Property, any matter set forth, contained or addressed in the Documents
(including, but not limited to, the accuracy and completeness thereof) or the results of Buyer’s Due Diligence; and (iii)
Buyer has confirmed independently all information that it considers
material to its purchase of the Property or
the Transaction. Buyer specifically acknowledges that, except for Seller’s Warranties,
Buyer is not relying on (and Seller and each of the other Seller Parties
does disclaim and renounce) any
representations or warranties of any kind or nature whatsoever, whether
oral or written, express, implied, statutory or otherwise, from Seller or any other Seller Parties, as to any matter
whatsoever. Buyer further acknowledges and
agrees that, except for Seller’s Warranties, Seller is under no duty to make
any affirmative disclosures or inquiry regarding any matter which may or
may not be known to Seller or any of the
other Seller Parties, and Buyer, for itself and for its successors and
assigns, expressly waives and releases Seller and each of the other Seller
Parties from any such duty that otherwise might exist.

(b)       Any reports, repairs or work required by Buyer are the sole
responsibility of Buyer, and Buyer agrees that there is no obligation on the
part of Seller to make any changes, alterations or repairs to the Property or
to cure any violations of Law or to comply with the requirements of any
insurer.

(c)       Buyer acknowledges and agrees that the provisions of this
Section 5 were a material factor in Seller’s acceptance of the Purchase Price
and that while Seller has provided the Documents and cooperated with Buyer,
Seller is unwilling to sell the Property unless Seller and the other Seller
Parties are expressly released as set forth in Section 5.3(c) and unless Buyer
executes and delivers the As Is Certificate attached to this Agreement as Exhibit
B to Seller at Closing.

5.4.     Buyer’s Certificate

Buyer shall deliver to Seller, at the Closing, a
certificate in the form of Exhibit B attached, confirming and certifying
Buyer’s acceptance and acknowledgement of matters set forth in Section 5.3. At
the Prepayment Restricted Parcel Closing, Buyer shall deliver to Seller a
certificate in the form of Exhibit B with respect to the Prepayment
Restricted Parcels, confirming and certifying Buyer’s acceptance and
acknowledgement of matters set forth in Section 5.3 as to the Prepayment
Restricted Parcels.

 10
 

5.5.     Survival

Notwithstanding anything to the contrary in this
Agreement, the provisions of this Section 5 shall survive the Closing and the
Prepayment Restricted Parcel Closing and shall not be merged in this Agreement.

6.        EXCLUDED PARCELS; PREPAYMENT RESTRICTED PARCELS

6.1.     Exclusion of Parcels for Environmental
Reasons

Seller has offered the Buyer Representatives immediate
access to the files and records on the Intralinks website which contains all
the information in Seller’s possession pertaining to environmental matters at
the three parcels listed on Schedule 1 as Parcels that had or have
environmental conditions that require monitoring or remediation (the “Known Environmental
Parcels”). Buyer shall have the opportunity to perform environmental
Due Diligence on the Parcels, including the Known Environmental Parcels during
the term of the Due Diligence Period. Buyer agrees to perform that
environmental Due Diligence diligently and without delay and to retain such
environmental engineers and consultants as Buyer may designate. At Buyer’s
request, Seller agrees to assist in gaining access to the Parcels for site
investigations and testing. If, after due diligence in examining the
environmental materials on the Intralinks Website and conducting such other
investigations and tests as Buyer elects, Buyer’s tests and investigations show
the existence of a condition at a Parcel which (i) involves the presence of
hazardous materials or a potential violation of environmental laws, and (ii)
would either cost in excess of Fifty Thousand Dollars ($50,000) to remediate
and/or Buyer’s lender reasonably objects to such condition (any condition
satisfying both (i) and (ii) being referred to as an “Environmental Condition”), Buyer
may elect to exclude one or more of such Parcels from this Agreement by
delivery of written notice to Seller which notice shall identify the Parcel to be
excluded from this Agreement and which notice must be delivered to Seller not
later than the expiration of the Due Diligence Period. In the event Buyer
exercises its rights under this Section to exclude one of the Parcels from this
Agreement, then (i) that Parcel shall constitute an “Excluded Parcel,” (ii)
Seller shall amend Schedule 1 to delete that Parcel from the definition of “Property,”
and (iii) Seller shall reduce the Purchase Price by the Allocated Purchase
Price for such Parcel; provided, however, that the Confidentiality Agreement
and the Access Agreement shall remain in effect with respect to that Parcel,
other than the provisions of the Access Agreement giving Buyer the right of
entry onto the Parcel. In the event that Buyer’s tests and investigations show
the existence of a condition at a Parcel which (x) involves the presence of
hazardous materials or a potential violation of environmental laws, and (y)
would cost less than or equal to Fifty Thousand Dollars ($50,000) to remediate,
then, at Seller’s option, Seller will either remediate and cure such condition
prior to Closing or Buyer shall be entitled to a credit at Closing against the
Allocated Purchase Price for that Parcel in the amount reasonably necessary to
remedy and cure such condition

6.2.     Exclusion of Parcels for ROFO Rights

Seller has identified six (6) Parcels on Schedule 1
as Parcels each of which has a Lease in effect that grants to a tenant of that
Parcel a right of first refusal or right of first offer to purchase the Parcel
(the “ROFO Parcels”). Following the
Commencement Date and the agreement of the Buyer and Seller on the Allocated
Purchase Price for such ROFO Parcels, Seller will give each of those tenants
notice of the existence of this Agreement and will require exercise or waiver
of the tenants’ respective purchase rights. Buyer acknowledges and agrees that
Seller’s providing of information to such tenants regarding this Agreement
and/or the purchase price for such property shall not be a breach of any
confidentiality agreement made by Seller to Buyer. If one or more of those
tenants elects to exercise an option to purchase a ROFO Parcel, then Seller
shall provide written notice to Buyer of that exercise within five (5)

 11
 

business days of Seller’s receipt thereof, and: (i) Seller’s notice to
Buyer shall designate that ROFO Parcel as an Excluded Parcel, (ii) Seller shall
amend Schedule 1 to delete that Parcel from the definition of “Property,” and
(iii) Seller shall reduce the Purchase Price by the Allocated Purchase Price for
such Parcel; provided, however, that the Confidentiality Agreement and the
Access Agreement shall remain in effect with respect to that Parcel, other than
the provisions of the Access Agreement giving Buyer the right of entry onto the
Parcel.

6.3.     Exclusion of Parcels by Reason of
Condemnation or Casualty

As provided in Section 13.1, Buyer has the right to
designate a Parcel as an Excluded Parcel if a “significant portion” of that
Parcel is taken by exercise of powers of eminent domain or is the subject of a
pending exercise of powers of eminent domain. As provided in Section 13.2,
Buyer has the right to designate a Parcel as an Excluded Parcel if the Parcel
is damaged or destroyed prior to Closing by a casualty that is not a
Non-Material Casualty. If Buyer designates a Parcel as an Excluded Parcel in
the exercise of Buyer’s rights under either Section 13.1 or under Section 13.2,
then (i) Seller shall amend Schedule 1 to delete that Parcel from the
definition of “Property,” and (ii) Seller shall reduce the Purchase Price by
the Allocated Purchase Price for such Parcel; provided, however, that the
Confidentiality Agreement and the Access Agreement shall remain in effect with
respect to that Parcel, other than the provisions of the Access Agreement
giving Buyer the right of entry onto the Parcel.

6.4.     Exclusion of Parcels by Reason of
Failure of Tenant Estoppel Condition

As provided in Section 9.2(e), Buyer has the right to
designate a Parcel as an Excluded Parcel if Seller is unable to obtain a tenant
estoppel letter from a Tenant as required under such Section 9.2(e). If Buyer
designates a Parcel as an Excluded Parcel in the exercise of Buyer’s rights
under Section 9.2(c), then (i) Seller shall amend Schedule 1 to delete that
Parcel from the definition of “Property,” and (ii) Seller shall reduce the
Purchase Price by the Allocated Purchase Price for such Parcel; provided,
however, that the Confidentiality Agreement and the Access Agreement shall
remain in effect with respect to that Parcel, other than the provisions of the
Access Agreement giving Buyer the right of entry onto the Parcel.

6.5.     Exclusion of Parcels by Reason of
Inaccuracy in Representation or Warranty

As provided in Section 10.3(e), Buyer has the right to
designate a Parcel as an Excluded Parcel if certain conditions regarding
accuracy of Seller’s representations and warranties regarding that Parcel are
not satisfied. If Buyer designates a Parcel as an Excluded Parcel in the
exercise of Buyer’s rights under Section 10.3(e), then (i) Seller shall amend
Schedule 1 to delete that Parcel from the definition of “Property,” and (ii)
Seller shall reduce the Purchase Price by the Allocated Purchase Price for such
Parcel; provided, however, that the Confidentiality Agreement and the Access
Agreement shall remain in effect with respect to that Parcel, other than the
provisions of the Access Agreement giving Buyer the right of entry onto the
Parcel.

6.6.     Prepayment Restricted Parcels

(a)       Seller
has identified six (6) parcels in the portfolio listed on Schedule 1 as
Parcels that may be encumbered by a Mortgage securing a Note which restricts
prepayment (the “Prepayment Restricted Parcels”).
Following the Commencement Date, Buyer shall investigate the feasibility of
Buyer assuming the Notes and Mortgages on the Prepayment Restricted Parcels. In
the event that Buyer determines, in its sole discretion, that it is not
feasible for Buyer to assume the Notes and Mortgages on the Prepayment
Restricted Parcels, then Buyer may designate one or more of the Prepayment Restricted
Parcels as an Excluded Parcel, by providing written notice to

 12
 

Seller of such election on or before the End of the
Due Diligence Period. If Buyer designates a Parcel as an Excluded Parcel
in the exercise of Buyer’s rights under this Section
6.6, then (i) Seller shall amend Schedule 1 to delete that Parcel from the definition
of “Property,” and (ii) Seller shall reduce the Purchase Price by the Allocated
Purchase Price for such Parcel; provided, however, that the Confidentiality
Agreement and the Access Agreement shall remain in effect with respect to that
Parcel, other than the provisions of the Access Agreement giving Buyer the
right of entry onto the Parcel.

(b)       If
Buyer does not elect to cause any Payment Restricted Parcel to be an Excluded
Parcel as set forth above, then Seller and Buyer shall use commercially reasonable efforts to obtain the consent of the
holders of the Notes to the assumption of those Notes and Mortgages on the Prepayment Restricted Parcels by Buyer.
In the event that Seller and Buyer are not able to obtain that consent
prior to that date which will occur ten (10) business days prior to the Closing
Date, then either Seller or Buyer may elect, upon written notice to the other
party to have such Parcel be conveyed to Buyer
on the Prepayment Restricted Parcel Closing Date rather than the Closing. If Buyer
is unable, following the exercise of good faith efforts, to cause the lender of
any Prepayment Restricted Parcel to consent to the assumption by Buyer of the
Notes and Mortgages on such Parcel on or
before the Prepayment Restricted Parcel Closing Date, then Buyer may
elect to cause such Prepayment Restricted Parcel to be an Excluded Parcel and
(x) Seller shall amend Schedule 1 to delete that Parcel from the definition of “Property,”
and (ii) Seller shall reduce the Purchase Price by the Allocated Purchase Price
for such Parcel; provided, however, that the Confidentiality Agreement and the
Access Agreement shall remain in effect with respect to that Parcel, other than
the provisions of the Access Agreement giving Buyer the right of entry onto the
Parcel.

6.7.     Exclusion
of Parcels by Reason of Failure to Cure Required Title Clearance Exceptions and
Commercially Reasonable Title Objections.

As provided in Section 4.1(a), Buyer has the right to
designate a Parcel as an Excluded Parcel if Seller fails to cure certain title
and survey matters as set forth in such Section 4.1(a). If Buyer designates a
Parcel as an Excluded Parcel in the exercise of Buyer’s rights under Section 4.1(a), then (i) Seller shall amend Schedule 1 to
delete that Parcel from the definition of “Property,” and (ii) Seller
shall reduce the Purchase Price by the Allocated Purchase Price for such
Parcel; provided, however, that the Confidentiality Agreement and the Access
Agreement shall remain in effect with respect
to that Parcel, other than the provisions of the Access Agreement giving
Buyer the right of entry onto the Parcel.

6.8.     Exclusion of Parcels for Deferred Maintenance.

During the Due Diligence Period, Buyer shall have the
right to obtain property condition and/or engineering reports on the Parcels (“Property
Reports”) subject to the terms of the Access
Agreement. If such Property Reports show the existence of conditions at a
Parcel which (i) is not the
responsibility of one or more tenants
under Leases for the Parcel, and (ii) would
cost in excess of One Hundred Thousand Dollars ($100,000) or would require, in
Buyer’s reasonable discretion, the creation of a reserve equal to or
greater than $.10 per sq. ft per year (any
conditions satisfying both of (i) and (ii) above shall be referred to as “Deferred
Maintenance Condition”), then Buyer
may elect to exclude one or more Parcels with such Deferred Maintenance
Condition from this Agreement by delivery of written notice to Seller which
notice shall identify the Parcel to be
excluded from this Agreement and which notice must be delivered to
Seller not later than the expiration of the Due Diligence Period. Seller shall
have the right to cure such Deferred Maintenance Condition by delivery to Buyer
of a notice of same within ten (10)
business days of receipt of Buyer’s notice to exclude such Parcel by providing
Buyer with a

 13
 

credit against the Allocated Purchase Price for such Parcel in the
amount necessary to repair such Deferred Maintenance Condition. In the event
Buyer exercises its rights under this Section to exclude one or more of the
Parcels from this Agreement and Seller does not elect to cure such Deferred
Maintenance Condition as set forth above, then (i) that Parcel shall constitute
an “Excluded Parcel,” (ii) Seller shall amend Schedule 1 to delete that Parcel
from the definition of “Property,” and
(iii) Seller shall reduce the Purchase Price by Allocated Purchase Price for
such Parcel; provided, however, that the Confidentiality Agreement and
the Access Agreement shall remain in effect with respect to that Parcel, other
than the provisions of the Access Agreement giving Buyer the right of entry
onto the Parcel.

6.9.     TIC Consent Excluded Parcels.

In the event that Seller is unable to obtain the
necessary consents or approvals to sell a Parcel which is owned by tenants in
common from the other owners to such Parcel, then Seller shall have the right
to exclude such Parcel as an Excluded Parcel and (i) Seller shall amend Schedule 1 to delete that Parcel from the
definition of “Property,” and (ii) Seller shall reduce the Purchase Price by the Allocated Purchase Price fro
such Parcel; provided, however, that the Confidentiality Agreement and
the Access Agreement shall remain in effect with respect to that Parcel, other than the provisions of the Access
Agreement giving Buyer the right of entry onto the Parcel.

6.10.  Ground Lease Parcels.

If Buyer is not satisfied with the terms of any Ground
Lease with respect to a Ground Lease Parcel, then Buyer may elect to exclude
one or more Ground Lease Parcels from this Agreement by delivery of written
notice to Seller which notice shall identify the Ground Lease Parcel to be excluded from this Agreement and which
notice must be delivered to Seller not later
than the expiration of the Due Diligence Period. If Buyer designates a Ground
Lease Parcel as an Excluded Parcel, then (i) Seller shall amend Schedule
1 to delete that Parcel from the definition of “Property,” and (ii) Seller
shall reduce the Purchase Price by the Allocated Purchase Price for such
Parcel; provided, however, that the Confidentiality Agreement and the Access Agreement shall remain in effect with
respect to that Parcel, other than the provisions of the Access
Agreement giving Buyer the right of entry onto the Parcel.

6.11.  Exclusion
of Parcels for Slippage.

During the Due Diligence Period,
Buyer shall have the right to review the Leases. If Buyer’s review
indicates that any Lease does not obligate the tenant or tenants of any Parcel
to be economically responsible (either by direct payment or by reimbursement to
the landlord) for one hundred percent (100%) of the operating expenses of the
Parcel (including, but not limited to, cost of repairs, maintenance,
replacements, real and personal property taxes, assessments, and liability and
property insurance for such Parcel) (a “Slippage Condition”), then Buyer may elect to exclude one or more Parcels with such
Slippage Condition from this Agreement by delivery of written notice to
Seller which notice shall identify the Parcel to be excluded from this
Agreement and which notice must be delivered to Seller not later than the
expiration of the Due Diligence Period. In
the event Buyer exercises its rights under this Section to exclude one or more
of the Parcels from this Agreement, then (i) that Parcel shall constitute an “Excluded
Parcel,” (ii) Seller shall amend
Schedule 1 to delete that Parcel from the definition of “Property,” and
(iii) Seller shall reduce the Purchase Price by Allocated Purchase Price for
such Parcel; provided, however, that the Confidentiality Agreement and the
Access Agreement shall remain in effect with
respect to that Parcel, other than the provisions of the Access Agreement
giving Buyer the right of entry onto the Parcel.

 14

6.12.  Maximum Excluded Parcels.

Notwithstanding anything
in this Section 6 or elsewhere in this Agreement to the contrary, Parcels which
are excluded pursuant to the following Sections of this Agreement may not
exceed the Maximum Exclusion (as hereinafter defined):

Section 6.6(a) Prepayment
Restricted Parcels

Section 6.8                  Exclusion
of Parcels for Deferred Maintenance

Section 6.10            Ground
Lease Parcels

Section 6.11            Exclusion
of Parcels for Slippage

As used herein, the term “Maximum
Exclusion” shall mean fifteen (15) Parcels.

7.        ADJUSTMENTS AND PRORATIONS

The
following adjustments and prorations will be made at Closing for all Parcels
which are not Prepayment Restricted Parcels; with respect to the Prepayment
Restricted Parcels, the following adjustments and prorations will be made at
the Prepayment Restricted Parcel Closing:

 7.1.    Lease
Rentals and Other Revenues.

(a)       Rents. All Rents will be prorated between Seller and
Buyer as of the day prior to the Closing Date. Seller will be entitled to all
Rents attributable to any period to but not including the Closing Date. Buyer
will be entitled to all Rents attributable to any period on and after the
Closing Date. For purposes of determining each of Buyer’s and Seller’s pro rata share of percentage rents, the
amount “attributable” to the period prior to the Closing Date is equal to (a)
the aggregate amount of such percentage rents actually due from such tenant
(even though the same may not have been collected as of the Closing) for the
calendar year in which the Closing occurs based upon the amount of percentage
rent due from such tenant for the calendar year immediately prior to the
calendar year in which the Closing occurs multiplied by (b) a
fraction, the numerator of which is the number of days prior to the Closing Date
that the applicable tenant leases space at the Property during the calendar
year in which the Closing occurs and the denominator of which is 365. Except
with respect to percentage rents (which is prorated as provided above), Rents
shall be prorated on the accrual basis as of the Closing Date pursuant to the
rent roll.

(b)       Other Revenues. Revenues from Property operations
(other than Rents (which is prorated as provided in Subsection 7.1(a)),
security deposits (which will be apportioned as provided in Section 7.6), and
pre-paid installments or other payments under Contracts (which is the sole
property of Seller)) shall be prorated as of the Closing Date on an accrual
basis. Seller is entitled to all such revenues attributable to any period to
but not including the Closing Date and Buyer is entitled to all such revenues
attributable to any period on and after the Closing Date.

(c)       Post-Closing Collections. After Closing, Buyer shall
make a good faith effort to collect any Rents or other revenues not collected
as of the Closing Date on Seller’s behalf and to tender the same to Seller upon
receipt; provided, however, that all Rents collected by Buyer on
or after the Closing Date shall first be applied to all amounts due under the
applicable Lease at the time of collection (i.e.,
current Rents and sums due Buyer as the current owner and landlord unless Buyer
received a credit at Closing for such sums) with the balance (if any) payable
to Seller, but only to the extent of amounts delinquent and actually due Seller
and/or for which Buyer received a credit at Closing. Buyer shall not have an
exclusive right to collect the sums due Seller under the

 15
 

Leases or other revenue due Seller and Seller retains its rights to
pursue claims against any tenant under the Leases or other party for sums due
with respect to periods prior to the Closing Date (including, without
limitation, any percentage rent that may be due with respect to any period of
time prior to Closing, regardless of when the same is to be paid to the owner of
the Property pursuant to the terms of the applicable Lease); provided, however,
that with respect to any legal proceedings against any tenant under a Lease,
Seller (a) is required to notify Buyer in writing of its intention to commence
or pursue such legal proceedings; (b) shall only be permitted to commence or
pursue any legal proceedings after the date which is one (1) month after
Closing; and (c) shall not be permitted to commence or pursue any legal
proceedings against any tenant seeking eviction of such tenant or the
termination of the underlying Lease. The terms of this Section 7.1(c) shall
survive the Closing and not be merged in this Agreement.

7.2.     Intentionally
Omitted.

7.3.     Real Estate Taxes.

(a)       Proration of Ad Valorem Taxes. To the extent that the
Tenants of a Parcel are not responsible under applicable Leases for the payment
of ad valorem real estate taxes for that Parcel, Buyer and Seller shall prorate
ad valorem real estate taxes for that Parcel that accrue during the Closing Tax
Year and, if applicable, the immediately preceding Tax Year, regardless of the
year for which such taxes are assessed or payable, as follows:

(i)        Seller will give Buyer a credit for any real estate taxes for
a Parcel that accrued in the Tax Year immediately preceding the Closing Tax
Year which have not been paid as of the Closing Date.

(ii)       Additionally, (A) Seller will give Buyer a credit for that
portion of taxes accruing in the Closing Tax Year equal to (1) the total of
such taxes which will accrue during the Closing Tax Year, multiplied by
(2) a fraction, the numerator of which is the number of days in the Closing Tax
Year prior to the Closing Date for that Parcel, and the denominator of which is
365 (“Seller’s
Pro Rata Share”); and
(B) Buyer will be responsible for that portion of such taxes equal to (X) the
total such taxes which will accrue during the Closing Tax Year, multiplied
by (Y) a fraction, the numerator of which is the number of days in the
Closing Tax Year subsequent to and including the Closing Date for that Parcel,
and the denominator of which is 365 (“Buyer’s Pro Rata Share”).

(b)       Insufficient Information. If, at Closing, the real
estate tax rate and assessments are not then known for the taxes which will
accrue in the Closing Tax Year or in the immediately preceding Tax Year, then
the proration of such taxes will be based upon an amount equal to one hundred
five percent (105%) of the last known real estate tax bill for the Parcel, and
such proration will be final.

(c)       Special Assessments. To the extent that the Tenants of
a Parcel are not responsible under applicable Leases for the payment of special
assessments for that Parcel, Seller shall pay all installments of special
assessments due and payable prior to the Closing Date and Buyer shall pay all installments
of special assessments due and payable on and after the Closing Date; provided,
however, that (a) if the owner of the Property has the election to pay any
special assessment either immediately or under a payment plan with interest,
Seller may elect to pay under a payment plan, which election will be binding on
Buyer; and (b) Seller shall not be required by the foregoing to pay any

 16
 

installments of special assessments which have not been confirmed or
which relate to projects that have not been completed as of the date of this
Agreement.

(d)       Tax Credit Parcels. Within ten days after the
Commencement Date, Seller shall provide to Buyer a list of those Leases where
the Tenants are obligated under their Leases only to pay for real estate taxes
in the year due and payable, rather than on a accrual basis and such taxes are
assessed for the Parcel on an accrual basis (collectively, the “Tax Credit Parcels”). Within thirty (30)
days following the Commencement Date, Buyer and Seller shall agree upon the
list of such Tax Credit Parcels. If the parties are unable to agree to the list
of Tax Credit Parcels within such period, then either party may elect to
terminate this Agreement in its entirety by written notice to the other party,
in which event the Deposit shall be delivered to Buyer.

(e)       Tenant Reimbursements. Notwithstanding the foregoing
terms of this Section 7, except for the Tax Credit Parcels, Seller shall have
no obligation to pay (and Buyer shall not receive a credit at Closing for) any
real estate taxes or special assessments to the extent that Tenants are
responsible for payment of such real estate or personal property tax or special
assessment, whether the Tenants pay directly to the taxing authority or pay to
Tenant’s landlord, or to the extent that Buyer is or will be entitled after
Closing to reimbursement of taxes and assessments, or the recovery of any
increase in taxes and assessments, from the tenants under the Leases,
regardless of whether Buyer actually collects such reimbursement or increased
taxes and assessments from such tenants, it being understood and agreed by
Buyer and Seller that (a) as between Buyer and Seller, Buyer is responsible for
payment of all of such real estate or personal property taxes and assessments,
and (b) the burden of collecting such reimbursements is solely on Buyer.
Furthermore, Seller and Buyer acknowledge and agree that, notwithstanding any
provision in any of the Leases to the contrary, the tax deposit payments to be
paid by tenants of the Property during the Closing Tax Year are to be applied
to pay the real estate taxes due and payable during the Closing Tax Year. In
the event any tenants are entitled to any portions of taxes or assessments that
are refunded to Seller (or as to which Seller would be entitled hereunder),
Seller covenants to make such payments as and when due. The provisions of this
Section shall survive the Closing.

(f)        Last Year Accruals. For the Tax Credit Parcels, at
Closing, Seller will give Buyer a credit (which will based upon the most recent
ascertainable tax bill for the applicable Parcel as of the Closing) for that
portion of taxes that would be due in the final Tax Year up until expiration of
the term of such Lease.

(g)       Tenant Reserves and Deposits. In the event Seller has
collected tax or other reserves from Tenants, Seller shall assign those
reserves to Buyer at Closing, but Buyer shall not be entitled to a separate
credit for the amount of any expense for which Seller assigns a reserve amount
to Buyer.

7.4.     Other Property Operating Expenses.

Operating expenses for
the Property will be prorated as of 12:01 a.m. on the Closing Date. Seller
shall pay all utility charges and other operating expenses attributable to the
Property to, but not including the Closing Date (except for those utility
charges and operating expenses payable by tenants in accordance with the
Leases) and Buyer shall pay all utility charges and other operating expenses
attributable to the Property on or after the Closing Date. To the extent that
the amount of actual consumption of any utility services is not determined
prior to the Closing Date, a proration will be made at Closing based on the
last available reading and post-closing adjustments between Buyer and Seller
will be made within twenty (20) days of

 17
 

the date that actual consumption for such
pre-closing period is determined, which obligation shall survive the
Closing and not be merged in this Agreement. Seller shall not assign to Buyer any deposits which Seller has with any of the
utility services or companies servicing the Property. Buyer shall arrange with such services and companies to have
accounts opened in Buyer’s name
beginning at 12:01 a.m. on the Closing Date. Notwithstanding the foregoing
terms of this section, Seller have no obligation to pay (and Buyer shall
not receive a credit at Closing for) any
operating expenses to the extent that Buyer is entitled after Closing to
reimbursement of operating expenses,
or the recovery of any increase in operating expenses, from the tenants under the Leases, regardless of whether Buyer
actually collects such reimbursement or increased operating expenses from such tenants, it being understood and
agreed by Buyer and Seller that (a) as between Buyer and Seller, Buyer will be
responsible for payment of all of such operating
expenses, and (b) the burden of collecting such reimbursements will be solely
on Buyer.

7.5.     Closing
Costs.

Buyer
shall pay the following costs and expenses associated with the Transaction: (a)
all premiums and charges of the Title
Company for any Loan Policy of title insurance and for any endorsements to the such Loan Policy; (b) all
endorsements to the Owner’s Title Policy requested by Buyer, including the Buyer Requested Title Endorsements;
(c) all recording and filing charges in connection with the recording of the
deed (i.e. per page and per documents charges); (d) one-half (1/2) of all
escrow or closing charges, (e) the commission due Buyer’s broker, if any, (f)
all costs of Buyer’s Due Diligence, including fees due its consultants and
attorneys, and (g) all fees, and other lenders’ fees related to any financing
to be obtained by Buyer. Seller
shall pay the following costs and expenses associated with the Transaction: (i)
the basic premium charged by the
Title Company for the Title Commitment and the Owner’s Title Policy
including the cost for extended coverage over the general exceptions and all
search and exam fees, (ii) the cost of Surveys (unless Buyer chooses to be
responsible for this cost as set forth in the definition of Title Review
Commencement Date and then terminates this Agreement under Section 5.2 hereof), (iii) the commission due Seller’s Financial
Advisor, (iv) all transfer taxes,
sales taxes and similar charges, if any, applicable to the transfer of the
Property to Buyer; (v) all fees due
its attorneys, and (vi) all costs incurred in connection with causing the Title
Company to Remove any Required Title Clearance Exceptions and those
other Commercially Reasonable Title
Objections Seller has chosen to remove (unless such removal is obtained through the issuance of one or more of the Buyer’s
Requested Title Endorsements). The obligations of the parties under this
Section 7.5 shall survive the Closing (and not be merged in this Agreement) or
any earlier termination of this Agreement.

7.6.     Cash
Security Deposits.

At Closing, Seller shall
give Buyer a credit against the Purchase Price in the aggregate amount of any
cash security deposits then held by Seller under the Leases.

7.7.     Apportionment Credit.

In
the event the apportionments to be made at the Closing result in a credit
balance (a) to Buyer, such sum is
paid at the Closing by giving Buyer a credit against the Purchase Price in the amount of such credit balance, or (b) to
Seller, Buyer shall pay the amount thereof to Seller at the Closing by
wire transfer of immediately available funds to the account or accounts to be
designated by Seller for the payment of the Purchase Price.

7.8. Assumed Mortgages.

At
the Closing or Prepayment Restricted Parcel Closing, as applicable, Buyer shall
receive a credit for the unpaid
principal balance and accrued and unpaid interest on any Note

 18
 

secured by a Mortgage on a Prepayment Restricted
Parcel which Mortgage will be assumed by Buyer; Seller shall have the
right to require in Buyer’s assumption documents the full release of Seller and Sherwin Jarol by the lender under such
Mortgage, Note and other loan documents (including any guarantees given
in connection therewith) or, at Seller’s option, to require Buyer to enter into
a separate agreement of indemnification in form satisfactory to Seller pursuant
to which Buyer will indemnify Seller for any
claims arising on or after the Closing or Prepayment Restricted Parcel
Closing, as applicable, from the assumption of a Note secured by a Mortgage on a Prepayment Restricted Parcel.

7.9.     Ground Lease

Buyer
shall receive a credit for any rent or other payments due under a Ground Lease
to the extent that such payments have
accrued as of the Closing Date for a Parcel and remain unpaid. Seller shall
receive a credit for any rent or other payments due under a Ground Lease to
the extent such payments have been paid in advance of the Closing Date for that
Parcel.

7.10.  Delayed Adjustment; Delivery of Operating and Other
Financial Statements.

If
at any time following the Closing Date, the amount of an item listed in any
section of this Section 7 shall prove to be incorrect (whether as a
result of an error in calculation or a lack of complete and accurate
information as of the Closing) or otherwise require adjustment as a result of
any year-end or periodic reconciliations of reimbursable operating expenses or
tax payments by a tenant under a Lease, the
party owing money as a result of such error or adjustment shall promptly pay to
the other party the sum necessary to correct such error or make such adjustment upon receipt of proof of the
same, provided that such proof is received by the party from whom
payment is to be made on or before one (1) year after Closing (such period
being referred to in this Agreement as the “Post
Closing Adjustment Period”). In order to enable Seller to determine
whether any such delayed adjustment is necessary, Buyer shall provide to Seller
current operating and financial statements for the Property and copies of any
correspondence and statements sent to tenants in connection with any
reconciliation promptly after the same are prepared, but, in any event, no
later than the date one (1) month prior to the expiration of the Post-Closing Adjustment Period. The provisions of this
Section 7.10 shall survive the
Closing and not be merged in this Agreement.

8.        CLOSING

Buyer
and Seller agree that the Transaction shall be consummated in two or more
stages. At the Closing Date, the Transaction shall be consummated in accordance
with the terms and conditions of
this Agreement with respect to that portion of the Property consisting of Parcels which are not Prepayment Restricted
Parcels unless the assumption of the Note secured by a Mortgage on the Prepayment Restricted Parcel can be
accomplished by the Closing Date. At the Prepayment Restricted Parcel
Closing Date, this Transaction shall be consummated
in accordance with the terms and conditions of this Agreement with respect to
that portion of the Property which does consist of Prepayment Restricted
Parcels which were not capable of being closed on the Closing Date. With
respect to the Prepayment Restricted Parcels, all terms and conditions of this
Agreement which refer to the Closing or the Closing Date shall be construed to mean the “Prepayment
Restricted Parcel Closing” and the “Prepayment
Restricted Parcel Closing Date”, as applicable.

8.1.     Closing Date

Subject
to Seller’s right to extend the Closing as provided in this Agreement, Closing shall occur on the Closing Date. Closing shall
occur through a so-called “New York style” closing, with Seller and
Buyer providing respective instructions to the Escrow Agent regarding

 19
 

the conditions to release of their respective deliveries. Time is of
the essence with respect to the Closing Date.

8.2.     Title
Transfer and Payment of Purchase Price

Provided
all conditions precedent to Seller’s obligations under this Agreement have been
satisfied, Seller agrees to convey the Property to Buyer against payment
of the Purchase Price as set forth below.
Provided all conditions precedent to Buyer’s obligations under this Agreement
have been satisfied, Buyer agrees to pay the amount specified in Section 3 by
wire transfer of immediately available funds
to the account or accounts designated by Seller for payment of the Purchase Price.

8.3.     Seller’s
Closing Deliveries

At Closing, Seller shall
deliver or cause to be delivered the following:

(a)       Deed. For each Parcel which is not a Ground Lease
Parcel, a special warranty deed executed and acknowledged by the holder
of record title to the Parcel in the form of
Exhibit C attached to this Agreement, which special warranty deed shall
be modified as required to conform to
recording law and practice in the state where the Parcel is located (collectively, the “Deed”). For
each Parcel which is a Ground Lease Parcel,
such instruments as may be reasonably required by the Buyer and the Title Company
to convey the tenant’s interest in such Ground Lease.

(b)       Bill of Sale. For each Parcel, a bill of sale executed by the
holder of record title to the Parcel
in the form of Exhibit D attached to this Agreement (collectively, the “Bill of Sale”).

(c)       Assignment of
Tenant Leases. For each Parcel,
an assignment and assumption of tenant leases executed and acknowledged
by the holder of record title to the Parcel,
in the form of Exhibit E attached to this Agreement (collectively, the “Assignment of Leases”).

(d)       Assignment of
Intangible Property. For each
Parcel, an assignment and assumption
of the Contracts and the Other Property Rights for each Parcel (to the extent the same are not transferred by the Deed, Bill of
Sale or Assignment of Leases) executed
by the holder of record title to the Parcel in the form of Exhibit F
attached to this Agreement
(collectively, the “Assignment of Intangible Property”).

(e)       Notice to Tenants. A single form letter for each Parcel in the form
of Exhibit G attached to this Agreement, executed by the
holder of record title to the Parcel, duplicate
copies of which is sent by Buyer after Closing to each tenant under the Leases.

(f)        Notice to Vendors. A single form letter for each Parcel in the form
of Exhibit M attached to this Agreement, executed by the
holder of record title to the Parcel, duplicate
copies of which is sent by Buyer after Closing to each contractor under the Contracts.

(g)       Non-Foreign Status
Affidavit. A non-foreign status
affidavit for each Parcel in the form of Exhibit H attached to
this Agreement, as required by Section 1445 of
the Internal Revenue Code, executed by Seller.

(h)       Evidence
of Authority. Documentation to establish to Buyer’s reasonable satisfaction the due authorization of Seller’s
execution of all documents contemplated by this Agreement.

 20
 

(i)        Other Documents. Such other
documents as may be reasonably required by the Title Company or as may
be agreed upon by Seller and Buyer to consummate the Transaction.

 

(j)      Letters of Credit as Tenant
Security Deposits. With respect to any security deposits which are letters
of credit, Seller shall, if the same may be assigned or quitclaimed by Seller,
(i) deliver to Buyer at the Closing such letters of credit, (ii) execute and
deliver such other instruments as the issuers of such letters of credit shall
reasonably require, and (iii) cooperate with Buyer to change the named
beneficiary under such letters of credit to Buyer so long as Buyer pays any and
all transfer or assignment fees in connection therewith. If a security deposit
letter of credit is not assignable, Seller shall use commercially reasonable
efforts to obtain a new letter of credit from the tenant naming Buyer as the beneficiary,
and If a new letter of credit has not been issued as of the Closing Date,
Seller will agree to act as Buyer’s agent and draw on the letter of credit in
the event the landlord under the Lease would be entitled to draw on that letter
of credit. The obligations of Seller under this Section 8.3(j) shall survive
the Closing (and not be merged with the Deed).

(k)       Tax
Returns. If applicable, duly completed and signed real estate transfer tax
or sales tax returns.

(l)        Closing
Statement. The Closing Statement (as hereinafter defined), executed by Seller.

(m)      Management Agreement. A counterpart copy of the
Management Agreement executed by the Seller affiliate which will be the
property manager under that Management Agreement.

(n)       Keys and Original Documents. Keys to all locks on the
Real Property in Seller’s or Seller’s building manager’s possession and
originals or, if originals are not available,
copies, of all of the Property Documents, to the extent not previously
delivered to Buyer.

(o)       Audit
Representation Letter. An audit representation letter for each Parcel pursuant to Section 16.20 hereof.

(p)       Certified
Rent Roll. A rent roll for all of the Parcels certified as of the date
thereon by Seller.

The items to be delivered
by Seller in accordance with the terms of Sections (a) through (m), (o) and
(p), of this Section 8.3 is delivered to Escrow Agent no later than 5:00 p.m.
Central Daylight Savings Time on the last
business day prior to the Closing Date, and the items to be delivered by
Seller in accordance with the terms of Section (n) of this Section 8.3 is
delivered outside of escrow and is deemed
delivered if the same are located at the Property on the Closing Date.

8.4.     Buyer’s
Closing Deliveries

At the Closing, Buyer
shall deliver or cause to be delivered the following:

(a)       Purchase Price. The Purchase Price, as adjusted
for apportionments and other adjustments required under this Agreement, plus
any other amounts required to be paid by Buyer at Closing.

(b)       Assignment of Leases. For each Parcel, the
Assignment of Leases executed by Buyer.

 21
 

(c)       Assignment of Intangible
Property. For each Parcel, the Assignment of Intangible Property executed by Buyer.

(d)       Buyer’s As-Is
Certificate. For each Parcel, the
certificate of Buyer required under
Section 5 of this Agreement, as set forth in Exhibit B attached hereto
and incorporated in this Agreement.

(e)       Management
Agreement. A counterpart copy of
the Management Agreement executed by the grantees under the Deeds.

(f)        Evidence of Authority. Documentation to establish
to Seller’s reasonable satisfaction the due authorization of Buyer’s
acquisition of the Property and execution of all
documents contemplated by this Agreement.

(g)       Other Documents. Such other documents as may be reasonably
required by the Title Company or may
be agreed upon by Seller and Buyer to consummate the Transaction.

(h)       Tax
Returns. If applicable, duly completed and signed real estate transfer tax or sales tax returns.

(i)        Closing Statement. Buyer’s form of closing statement
as reasonably approved by Seller and Buyer, setting forth the prorations
and adjustments to the Purchase Price pursuant to the terms of this Agreement
(the “Closing Statement”),executed by Buyer. Buyer will provide a sample
form of closing statement to Seller within
ten (10) days of the Commencement Date.

The
Purchase Price is paid in accordance with the terms of Section 8.2 of this Agreement,
and the items to be delivered by Buyer in accordance with the terms of Sections
(b) through (h) of this Section 8.4 is
delivered to Escrow Agent no later than 5:00 p.m. Central Daylight
Savings Time on the last business day prior to the Closing Date.

9.        CONDITIONS TO CLOSING

9.1.     Conditions
to Seller’s Obligations

Seller’s obligation to
close the Transaction is conditioned on all of the following, any or all of
which may be waived by Seller by an express written waiver, at its sole option:

(a)       Representations True. All representations and
warranties made by Buyer  in this Agreement is true and correct in all
material respects on and as of the Closing 
Date, as if made on and as of
such date except to the extent that they expressly relate to an earlier date;

(b)       Buyer’s Deliveries
Complete. Buyer has delivered the
funds required under this Agreement
and all of the documents to be executed by Buyer set forth in Section 8.4;

(c)       Buyer’s Financial
Condition. No petition have been
filed by or against  Buyer under
the Federal Bankruptcy Code or any similar State or Federal Law, whether  now or
later existing; and

(d)       Excluded Parcels. The Parcels which have been excluded pursuant
to the  terms of this Agreement under Sections 6.6(a), 6.8, 6.10 and 6.11 do not
exceed the Maximum Exclusion.

The conditions stated in subsections (c) and (d) are
referred to as “Seller’s Conditions Precedent.”

 22
 

9.2.     Conditions to Buyer’s Obligations

Buyer’s
obligation to close the Transaction is conditioned on all of the following, any
or all of which may be expressly
waived by Buyer in writing, at its sole option:

(a)       Representations True. Subject to the provisions
of Section  10.3, all representations and
warranties made by Seller in this Agreement, as the same may be amended as
provided in Section 10.3, is true and correct in all material respects on and
as of the Closing Date, as if made on and as of such date except to the extent
that they expressly relate to an earlier
date;

(b)       Seller’s Deliveries Complete. Seller have delivered all of the documents to
be executed by Seller and other items required pursuant to Section 8.3;

(c)       Title Conditions
Satisfied. At the time of the
Closing, the Title Company is prepared
to issue an Owner’s Title Policy for each Parcel in the form required under Section 4.2 hereof;

(d)       Seller’s
Financial Condition. No petition
have been filed by or against Seller under the Federal Bankruptcy Code
or any similar State or Federal Law, whether now
or later existing; and

(e)       Estoppel Certificates. Buyer shall have received executed estoppel certificates
from all tenants under the Leases, which estoppel certificates shall be acceptable to Buyer in form and substance, in
Buyer’s reasonable discretion. Seller shall cause requests for such estoppels to be made of each tenant. An estoppel
certificate shall be deemed to be acceptable to Buyer if (i) it is dated
no earlier than forty-five (45) days prior to the initially scheduled Closing
Date, (ii) it is “clean” (meaning that the estoppel
certificate shall not allege any defaults on the part of either landlord (to
tenant’s knowledge) or tenant, nor claim any offsets or other unpaid amounts
owing from landlord to tenant), and
(iii) it is either (A) substantially in the form of Exhibit N attached
to this Agreement or (B) according to another form of estoppel
certificate permitted under such tenant’s Lease; provided, that the
alternate form of estoppel certificate contains at least the following information; (1) that the lease is
in full force and effect; (2) that there are no amendments to the Lease except as described in the estoppel certificate;
(3) the termination date of the
Lease; (4) a statement that the tenant has no rights to extend, expand
or renew the Lease or purchase the Parcel other than as specifically set forth
in such Lease; and (5) the amount of any security deposit. Notwithstanding any
provisions in this Agreement to the
contrary, if Buyer fails to object in writing to an estoppel certificate
executed by any tenant within five (5) business days after the date the same has been delivered to any Buyer’s Representative,
Buyer is deemed to have approved the
same. In the event that Buyer does not receive an acceptable estoppel
certificate as set forth above from a tenant under a Lease on or before
Closing, then Buyer may elect to exclude that
Parcel as an Excluded Parcel, and the provisions of Section 6.4 shall govern
the exclusion of that Parcel from this Transaction.

The
conditions stated in subsections (c), (d) and (e) are referred to as “Buyer’s Conditions Precedent”.

9.3.     Waiver
of Failure of Conditions Precedent

At
any time or times on or before the date specified for the satisfaction of any condition.
Seller or Buyer may elect in writing to waive the benefit of any such condition
set forth in Section 9.1 or Section
9.2, respectively. By closing the Transaction, Buyer is conclusively deemed to
have waived the benefit of any remaining unfulfilled conditions set forth in
Section 9.2. In the

 23
 

event any of the conditions set forth in Sections 8.1 or 8.2 are
neither waived nor fulfilled, Seller or
Buyer (as appropriate) may exercise such rights and remedies, if any, that such
party may have pursuant to the terms
of Section 12 of this Agreement.

9.4.     Approvals not a Condition to Buyer’s
Performance

Subject to Buyer’s right
to terminate this Agreement prior to the expiration of the Due Diligence Period in accordance with the terms of
Section 5 of this Agreement, Buyer acknowledges and agrees that its
obligation to perform under this Agreement is not contingent upon Buyer’s
ability to obtain any (a) governmental or quasi-governmental approval of
changes or modifications in use or zoning, or (b) modification of any existing
land use restriction, or (c) endorsements to the Owner’s Title Policy (other
than those required for Seller to fulfill its obligations,
if any, under Section 4.1(a) to cure Chosen Title Objections and Required Title
Clearance Exceptions), or (d) financing for acquisition of the Property.

10.                  REPRESENTATIONS
AND WARRANTIES

10.1.  Buyer’s
Representations

Buyer represents and warrants to, and covenants with, Seller as
follows:

(a)       Buyer’s Authorization. Buyer (a) is duly
organized, validly existing and in good
standing under the laws of its State of organization and the State in which the
Property is located if required to obtain the Owner’s Title Policy, (b) is
authorized to consummate the
Transaction and fulfill all of its obligations under this Agreement and under
all documents contemplated under this Agreement to be executed by Buyer, and (c) has all necessary power to execute and deliver
this Agreement and all documents contemplated under this Agreement to be
executed by Buyer, and to perform all of its obligations under this Agreement. This Agreement and all documents
contemplated under this Agreement to
be executed by Buyer have been duly authorized by all requisite partnership, corporate or other
required action on the part of Buyer and are the valid and legally binding obligation of Buyer, enforceable in accordance
with their respective terms. Neither
the execution and delivery of this Agreement and all documents contemplated under this Agreement to be
executed by Buyer, nor the performance of the obligations of Buyer under
this Agreement, will result in the violation of
any Law or any provision of the organizational documents of Buyer or will
conflict with any order or decree of any court or governmental
instrumentality of any nature by which Buyer
is bound.

(b)       Buyer’s Financial Condition. No petition has been
filed by or against Buyer under
the Federal Bankruptcy Code or any similar State or Federal Law.

(c)       Patriot Act Compliance. Buyer is not acting,
directly or indirectly for, or on behalf of, any person, group, entity or nation named by
any Executive Order (including the
September 24, 2001, Executive Order Blocking Property and Prohibiting
Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism)
or the United States Treasury Department as a
terrorist, “Specially Designated National and Blocked Person,” or other banned or blocked person, entity, or
nation pursuant to any Law that is enforced or administered by the
Office of Foreign Assets Control, and is not
engaging in this Transaction, directly or indirectly, on behalf of, or
instigating or facilitating this
Transaction, directly or indirectly, on behalf of, any such person, group, entity or nation.

10.2.  Seller’s Representations.

Seller represents and warrants to Buyer as follows:

 24

(a)       Seller’s Authorization. (i) Bradley and each
Parcel Owner is duly organized (or formed),
validly existing and in good standing under the Laws of its State of
organization and, to the extent required by Law, the State in which the Parcel
is located, and (ii) Bradley and each Parcel
Owner is authorized to consummate the Transaction
and fulfill all of its respective obligations under this Agreement and under
all Closing Documents to be executed by Bradley and each Parcel Owner,
and (iii) Bradley and each Parcel Owner has all necessary power to execute and
deliver this Agreement and all Closing
Documents to be executed by them, and to perform all of their respective obligations under this Agreement. This Agreement
and all Closing Documents to be executed
by Bradley and any Parcel Owner have been duly authorized by all requisite partnership, corporate or other required action on
the part of Bradley and each respective Parcel Owner and are the valid and legally binding obligation of
Bradley and each respective Parcel Owner,
enforceable in accordance with their respective terms. Neither the execution
and delivery of this Agreement and all Closing Documents to be executed by Bradley or any Parcel Owner, nor the
performance of the obligations of Bradley or any Parcel Owner under this
Agreement will result in the violation of any Law or any provision of the
organizational documents of Bradley or any Parcel Owner or will conflict with any order or decree of any court or
governmental instrumentality of any nature by which Bradley or any
Parcel Owner is bound. Without limited the generality of the foregoing provisions, Seller represents that
Bradley’s authority to bind each Parcel Owner is derived from (x) its status as the general partner of all Parcel
Owners other than “TIC Owners” (as defined below) that are limited
partnerships; (y) its status as the manager
of all Parcel Owners (other than TIC Owners) that are limited liability companies; and (z) the limited partnerships and/or
limited liability companies that are Parcel Owners other than TIC Owners hold a
majority of tenant in common interests under
Co-Ownership Agreements with the TIC Owners that enable Bradley to cause the non-affiliated Parcel Owners (the “TIC Owners”) to
convey each Parcel to Buyer or to purchase
the ownership interest of the TIC Owners and then convey each Parcel to Buyer.

(b)       Seller’s Knowledge Representations. To Seller’s best
knowledge:

(i)        Except as listed in Exhibit I attached to this
Agreement, Seller has not received any written notice of any current or
pending litigation against Seller which
would, in the reasonable judgment of Seller, if determined adversely to Seller, materially adversely affect the Property.

(ii)       As of the date of this Agreement, Seller
has not entered into any contracts, subcontracts or agreements affecting the Property which will be binding upon Buyer after the Closing other than (i) the Contracts listed
in Exhibit A attached hereto, (ii) the Leases, and (iii) liens,
encumbrances, covenants, conditions, restrictions, easements and other matters
of record.

(iii)      Except for defaults cured on or before the
date of this Agreement, Seller has not received any written notice of default under the terms of any of the Contracts except as listed in Exhibit I
attached hereto.

(iv)      As of the date of this Agreement, the only
tenants of the Property are the tenants listed in Exhibit L attached to this Agreement; provided, however,
that the
foregoing is not intended (and shall not be construed) as a representation by Seller
of the parties that are in actual possession of any portion of the Property
since there may be subtenants, licensees or assignees that are in possession of
portions of the Property of which Seller may not be aware.

 25
 

(v)       Except for
violations cured or remedied on or before the date of this Agreement and
except as listed in Exhibit I attached hereto, as of the date of this Agreement, Seller
has not received any written notice from any governmental authority of any violation of any
zoning Law applicable to the Property.

(vi)      As of the date of this Agreement, except
as set forth in Exhibit A attached hereto, there are no currently effective leasing commission agreements with respect to the
Property that will be binding upon Buyer after Closing.

(vii)     As of the date of this Agreement, all of
the Property Documents are
true and correct and have not been amended or modified except as shown thereon.

(viii)    Except for defaults
cured on or before the date of this Agreement, Seller has not received any written notice of default from the tenants
under any of the Leases except as listed in Exhibit I attached hereto.

(c)       Patriot Act Compliance. Seller is
not acting, directly or indirectly for, or on behalf of, any person, group, entity or nation
named by any Executive Order (including the
September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or Support Terrorism) or the United States Treasury Department as a
terrorist, “Specially Designated National and Blocked Person,” or other banned or blocked person, entity, or
nation pursuant to any Law that is enforced or administered by the
Office of Foreign Assets Control, and is not
engaging in this Transaction, directly or indirectly, on behalf of, or
instigating or facilitating this Transaction, directly or indirectly, on
behalf of, any such person, group, entity
or nation.

10.3.   General Provisions.

(a)       No Representation as to Leases. Without limiting Buyer’s
rights to exclude
Parcels as set forth in Section 6 hereof, Seller does not represent or
warrant that any particular Lease or Leases will be in force or effect
on the Closing Date or that the tenants will have performed their obligations
thereunder.

(b)       Definition of “Seller’s Best Knowledge” and “Written Notice” to Seller. All references
in this Agreement to “Seller’s best knowledge” or words of similar
import with respect to a Parcel shall refer only to the best knowledge
of Sherwin Jarol and Michael Siemer, and
such references to “Seller’s best knowledge” or words of similar import
shall not be construed to refer to the knowledge of any other member,
officer, director, shareholder, employee, agent, property manager or
representative of Seller, its partners or members (including without limitation
Seller’s counsel and Financial Advisor), or any affiliate of any of the foregoing, or to impose or have imposed upon
Sherwin Jarol and/or Michael Siemer
any duty to investigate the matters to which such knowledge, or the absence thereof, pertains, including without
limitation the contents of the files, documents
and materials made available to or disclosed to Buyer or the contents of files
maintained by Sherwin Jarol and/or Michael Siemer. There is no personal
liability on the part of Sherwin
Jarol and/or Michael Siemer arising out of any representations or warranties
made in this Agreement. All references in this Agreement to “written notice”
having been given to Seller shall include
only those notices received either at a Parcel by Seller’s property
managers or at Seller’s headquarters in Chicago, Illinois.

(c)       Seller’s Representations Deemed Modified. To the extent that Buyer
knows or is
deemed to know prior to the expiration of the Due Diligence Period that

 26
 

Seller’s representations and warranties are
inaccurate, untrue or incorrect in any way, such representations and
warranties is deemed modified to reflect Buyer’s knowledge or deemed knowledge,
as the case may be.

(d)       Seller’s Recertification of Seller’s Warranties.
At Closing, Seller shall remake Seller’s
Warranties as of the date of Closing (with such modifications as may be
required to reflect any changes in the matters represented by Seller).

(e)       Notice of Breach; Seller’s Right to Cure. If
after the expiration of the Due Diligence
Period but prior to the Closing, Buyer or any Buyer’s Representative obtains actual
knowledge that any of the representations or warranties made in this Agreement by Seller are untrue, inaccurate or incorrect in
any material respect with regard to a particular
Parcel, Buyer shall give Seller written notice thereof within five (5) business
days of obtaining such knowledge
(but, in any event, prior to the Closing). If at or prior to the Closing, Seller obtains actual knowledge that
any of the representations or warranties
made in this Agreement by Seller are untrue, inaccurate or incorrect in any
material respect, Seller shall give Buyer written notice thereof within five
(5) business days of obtaining such
knowledge (but, in any event, prior to the Closing). In either such event, Seller have the right (but not the
obligation except to the extent required by Section 11.2(d) of this Agreement) to cure such misrepresentation or
breach and is entitled to a
reasonable adjournment of the Closing (not to exceed sixty (60) days) for the purpose of such cure. Subject to performance
of Seller’s obligations set forth in Section
11.2(d) of this Agreement, if Seller is unable to so cure any misrepresentation
or breach of warranty, then Buyer, as its sole remedy for any and all such
materially untrue, inaccurate or incorrect representations or warranties, shall
elect either (a) to waive such misrepresentations or breaches of
representations and warranties and consummate the Transaction without any reduction of or credit against the Purchase
Price, or (b) to designate the
Parcel with respect to which the representations or warranties made in this Agreement by Seller are untrue, inaccurate or
incorrect in any material respect as an Excluded Parcel by written notice given to Seller within five (5)
business days after the earlier to
occur of (i) the expiration of the sixty (60) day cure period and (ii) receipt
of notice from Seller that Seller is
unable to cure any misrepresentation or breach of warranty, in which
event the provisions of Section 6.5 shall govern the exclusion of that Parcel from this Transaction. If any such
representation or warranty is untrue, inaccurate or incorrect but is not untrue, inaccurate or incorrect in any material
respect, Buyer is deemed to waive
such misrepresentation or breach of warranty, and Buyer is required to consummate the Transaction without any reduction of
or credit against the Purchase Price.

(f)        Survival; Limitation on Seller’s Liability. The
representations and warranties made by
Seller in Section 10.2 shall survive the Closing and not be merged in this Agreement for a period of one hundred eighty
(180) days (the “Claims Survival Period”), and Seller shall only be liable
to Buyer under this Agreement for a breach of a representation and warranty made in this Agreement or in any of the
documents executed by Seller at the
Closing with respect to which a claim is made by Buyer against Seller on or before the expiration of the Claims
Survival Period. Anything in this Agreement
to the contrary notwithstanding, the maximum aggregate liability of Seller for Seller’s breaches of representations and warranties
in this Agreement or in any documents
executed by Seller at Closing is limited as set forth in Section 16.15 of this
Agreement. Notwithstanding the foregoing, however, if the Closing occurs, Buyer
expressly waives, relinquishes and
releases any right or remedy available to it at law, in equity, under this Agreement or otherwise to make
a claim against Seller for damages

 27
 

that Buyer may incur, or to rescind this Agreement and the Transaction,
as the result of any of Seller’s
representations or warranties being untrue, inaccurate or incorrect if Buyer
knew or is deemed to know that such representation or warranty was untrue, inaccurate or incorrect at the time of the
Closing.

11.      COVENANTS

11.1.       Buyer’s Covenants

Buyer covenants as follows:

(a)       Confidentiality; Access. The Confidentiality
Agreement and the Access Agreement are incorporated in this Agreement by
reference, and Seller and Buyer agree to
continue to be bound by the terms of such agreements binding on such parties,
respectively. Even if a Parcel is designated as an Excluded Parcel pursuant to
the operation of other provisions of
this Agreement, the terms of the Confidentiality Agreement and the
Access Agreement shall continue to apply to that Excluded Parcel.

(b)       Buyer’s Indemnity; Delivery of Reports. Buyer
agrees to indemnify, defend, and hold Seller and each of the other Seller
Parties free and harmless from and against any and all damages, losses, costs,
claims, liabilities, expenses, demands and obligations, of any kind or nature
whatsoever (including attorneys’ fees and costs) arising out of or resulting from the breach of the terms of the
Confidentiality Agreement or the Access Agreement, which indemnity shall
survive the Closing (and not be merged in this Agreement) or any earlier
termination of this Agreement; provided, however, that for any Parcel that is
transferred to Buyer pursuant to the terms of this Agreement, such indemnity shall survive only for the Claims Survival
Period. If this Transaction is terminated for any reason other than
pursuant to Section 12.4 below, Buyer shall deliver promptly to Seller, at Seller’s request, copies of all third party
reports commissioned by or on behalf of Buyer evidencing the results of its Due
Diligence; provided Seller pays the reasonable copying costs of such
third party reports.

11.2.       Seller’s Covenants

Seller covenants as follows:

(a)       Contracts. Without Buyer’s prior consent, which
consent shall not be unreasonably withheld,
between the date of this Agreement and the Closing Date, Seller shall not extend, renew, replace or modify any
Contract unless such contract (as so extended, renewed, replaced or
modified) can be terminated by the owner of the Parcel without penalty on not
more than thirty (30) days’ advance notice.

(b)       Maintenance of
Property. Except to the extent
Seller is relieved of such obligations
by Section 13 of this Agreement, between the date of this Agreement and the Closing Date Seller shall maintain and keep the
Property in a manner consistent with Seller’s
past practices with respect to the Property; provided, however,
that, subject to Buyer’s right to
exclude one or more Parcels pursuant to Section 6 of this Agreement prior
to the expiration of the Due Diligence Period, Buyer agrees that it shall
accept the Property subject to, and Seller
have no obligation to cure, (a) any violations of Laws, and (b) any physical conditions which would give rise
to such violations, which exist on the last day of the Due Diligence
Period.

(c)       Termination of Management Agreement/Contracts.
As of the Closing Date, Seller shall
terminate and satisfy all property management agreements. Seller and Seller’s
property manager have the right to remove all of their proprietary software and
licensed software from computers at the
Property; provided that Seller shall provide

 28
 

Buyer with hard copies of all information reasonably requested by Buyer
prior to such removal. In addition, if Buyer notifies Seller in writing prior
to the expiration of the Due Diligence Period
that Buyer elects to have any other Contracts terminated prior to Closing, Seller shall terminate such Contracts so
designated by Buyer effective as of the Closing Date.

(d)       Seller’s Cure Obligation. Seller shall use
reasonable efforts (which shall include the expenditure of necessary funds) to
cure, prior to Closing, any and all of the following:
(a) Required Title Clearance Exceptions subject to the terms of Section 4.1(a) hereof,
and (b) material breaches of Seller’s Warranties (or matters requiring
modifications thereto due to changed circumstances as provided in Section
10.3(d) of this Agreement) provided that
Seller shall not be obligated to undertake any cure requiring
expenditures with respect to any parcel that would cause Seller’s cure costs to
exceed with respect to that Parcel the
Seller’s Cure Limit.

(e)       Compliance with Laws. Subject to the terms and
conditions herein, each party, without
payment or further consideration, shall use its best efforts to take or cause to be taken all action and to do or cause to be
done all things necessary, proper or advisable
under applicable Laws, to consummate and make effective, as soon as reasonably practicable, the Transaction, including,
but not limited to, obtaining all required consents, whether private or
governmental, required in connection with such party’s performance of such
transactions and each party shall cooperate with the other in all of the foregoing.

11.3.       Mutual Covenants.

(a)       Publicity. Seller and Buyer each covenant that:
(a) prior to the Closing neither Seller nor
Buyer shall issue any Release (as in this defined below) with respect to the Transaction without the prior consent of
the other, except to the extent required by applicable Law, and (b) after the
Closing, any Release issued by either Seller or Buyer is subject to the review and approval of both parties
(which approval shall not be unreasonably
withheld). If either Seller or Buyer is required by applicable Law to issue a Release,
such party shall, at least two (2) business days prior to the issuance of the same, deliver a copy of the proposed Release to
the other party for its review. As used in this Agreement, the term “Release”
means any press release or public statement with respect to the
Transaction or this Agreement.

(b)       Financial
Advisor. Seller and Buyer
expressly acknowledge that Financial Advisor has acted as Seller’s
exclusive broker with respect to the Transaction and with respect to this Agreement, and that Seller shall
pay any brokerage commission due to Financial
Advisor in accordance with the separate agreement between Seller and Financial
Advisor. Seller agrees to hold Buyer harmless and indemnify Buyer from and
against any and all damages, losses, costs, claims, liabilities, expenses,
demands and obligations (including, but not limited to, reasonable attorneys’
fees and disbursements) suffered or incurred by Buyer as a result of any claims
by any party claiming to have represented
Seller as broker in connection with the Transaction. Buyer agrees to hold Seller
harmless and indemnify Seller from and against any and all damages, losses, costs, claims, liabilities, expenses, demands and
obligations (including, but not limited to, reasonable attorneys’ fees
and disbursements) suffered or incurred by Seller as a result of any claims by any party claiming to have represented Buyer as
broker in connection with the
Transaction.

(c)       Tax Protests; Tax
Refunds and Credits. Seller has
the right to continue and to control the progress of and to make all decisions
with respect to any contest of

 29
 

the real estate taxes and personal property taxes for the Property
assessed for all Tax Years prior to the
Closing Tax Year. Buyer has the right to control the progress of and to make
all decisions with respect to any tax contest of the real estate taxes and
personal property taxes for the Property assessed for the Closing Tax Year and
all Tax Years subsequent to the Closing Tax
Year. All real estate and personal property tax refunds and credits
received after Closing with respect to the Property is applied in the following
order of priority: first, to pay the
costs and expenses (including reasonable attorneys’ fees and expenses) incurred in connection with
obtaining such tax refund or credit; second, apportioned between Buyer
and Seller as follows:

(i)        with respect to any refunds or credits attributable to real
estate and personal property taxes assessed for the Closing Tax Year,
such refunds and credits is apportioned between Buyer and Seller in proportion
to the number of days in such Tax Year that each party owned the Property (with
title to the Property being deemed to have
passed as of 11:59 p.m. on the day before the Closing Date);

(ii)       with respect to any refunds or credits attributable to real
estate and personal property taxes assessed for any Tax Year prior to
the Closing Tax Year, Seller is entitled to the entire refunds and credits; and

(iii)      with respect to any refunds or credits attributable to real
estate and personal property taxes
assessed for any Tax Year after the Closing Tax Year, Buyer is entitled
to the entire refunds and credits.

(d)       Survival.
The provisions of this Section 11.3 shall survive the Closing (and not be
merged in this Agreement) or earlier termination of this Agreement.

12.      SATISFACTION OF CONDITIONS PRECEDENT AND
DEFAULT

12.1.  Seller’s
Conditions Precedent.

If, on or before the
Closing Date, Seller determines that any of Seller’s Conditions Precedent to
Closing are not satisfied, Seller shall provide written notice to Buyer and
provide Buyer with a period of five (5) business days to cause the satisfaction
of Seller’s Conditions Precedent. If at the conclusion of that period, Seller
determines that any of Seller’s Conditions Precedent to Closing are not
satisfied, then Seller may elect, as its sole and exclusive remedy, either to
(a) terminate this Agreement in its entirety by written notice to Buyer; or (b)
waive the condition and proceed to close
the Transaction. If this Agreement is so terminated, then Seller is entitled
to retain the Deposit as liquidated damages, and then neither party to this
Agreement have any further rights or obligations under this Agreement other
than any arising under any section in this
Agreement that expressly provides that it survives the termination of this Agreement.

12.2.  Buyer’s
Default.

If,
on or before the Closing Date, (i) Buyer is in default of any of its
obligations under this Agreement, or (ii) the Closing otherwise fails to
occur by reason of Buyer’s failure or refusal to perform its obligations under this
Agreement in a prompt and timely manner, then Seller may elect, as its sole and
exclusive remedy, either to (a) terminate this Agreement in its entirety by
written notice to Buyer; or (b) waive the condition and proceed to close the
Transaction. If this Agreement is so terminated, then Seller is entitled to
retain the Deposit as liquidated damages, and neither party to this Agreement
shall have any further rights or obligations under this Agreement other than
any arising under any section in this Agreement that expressly provides that it
survives the termination of this Agreement.

 30
 

12.3.   Buyer’s Conditions
Precedent.

If, on the Closing Date,
Buyer determines that any of Buyer’s Conditions Precedent to Closing are not
satisfied, Buyer shall provide written notice to Seller and provide Seller with
a period of five (5) business days to cause the satisfaction of Buyer’s
Conditions Precedent. If at the conclusion
of that period, Buyer determines that any of Buyer’s Conditions Precedent to Closing are not satisfied, then Buyer may elect,
as its sole and exclusive remedy, either to (a) terminate this Agreement in its entirety by written notice to
Seller; or (b) except for a failure of
Section 9.2(a), 9.2(c) and 9.2(e) which are governed by the remedies in Sections
10.3, 4.1(a) and 6.4 hereof, terminate this Agreement only as to one or
more affected Parcels, or (c) waive the
condition and proceed to close the Transaction. If this Agreement is terminated
in its entirety, then the Deposit
shall be returned to Buyer and neither party to this Agreement have any further
rights or obligations under this Agreement other than any arising under any
section in this Agreement that expressly provides that it survives the
termination of this Agreement.

12.4.  Seller’s Default

If, at the Closing, (i)
Seller is in default of any of its obligations under this Agreement, or (ii) the Closing otherwise fails to occur by
reason of Seller’s failure or refusal to perform its obligations under this Agreement in a prompt and
timely manner, then Buyer shall provide written notice to Seller and provide Seller with a period of five (5)
business days to cure the default.
If at the conclusion of that period, such default remains uncured, Buyer may
elect, as its sole and exclusive
remedy, to (a) terminate this Agreement in its entirety by written notice to Seller, promptly after which the Deposit is to be
returned to Buyer, or (b) terminate this Agreement as to one or more of
the affected Parcels, or (c) waive the condition and proceed to close the Transaction, or (d) seek specific
performance of this Agreement by Seller. As a condition precedent to exercise by Buyer of any right Buyer may have to
bring an action for specific performance under this Agreement, Buyer
must commence such an action within sixty (60)
days after the occurrence of Seller’s default. Buyer agrees that its failure
timely to commence such an action for specific performance within such
sixty (60) day period is deemed a waiver by
Buyer of its right to commence an action for specific performance as well as a waiver by it of any right it may have to file or
record a notice of lis pendens or
notice of pendency of action or
similar notice against any portion of the Property. Notwithstanding anything
in the foregoing to the contrary, a failure of Section 9.2(a), 9.2(c) and
9.2(e) are not defaults and/or failures by
Seller to perform under this Section 12.4 and instead are governed by the remedies in Sections 10.3, 4.1(a) and 6.4
hereof.

13.      CONDEMNATION/CASUALTY

13.1.  Condemnation.

(a)       Right to Terminate. If, prior to the Closing
Date, all or any significant portion (as in this defined below) of a Parcel is
taken by eminent domain (or is the subject of a pending taking in which Seller
has been served with legal process, but which has not yet been consummated),
Seller shall notify Buyer in writing of such fact promptly after obtaining
knowledge thereof, and then either Buyer or Seller have the right to designate
that Parcel as an Excluded Parcel and delete that Parcel from the definition of
the Property by giving written notice to the other no later than ten (10) days
after the giving of Seller’s notice, and the Closing Date will be extended, if
necessary, to provide sufficient time for Buyer or Seller to make such
election. The failure by Buyer and Seller to so designate that Parcel as an
Excluded Parcel within such ten (10) day period is deemed an election not to
designate that Parcel as an Excluded Parcel. For purposes of this Agreement, a “significant
portion” of the Parcel means (i) any interest in the Parcel except a di
minimis interest the taking of which has no material effect on the

 31
 

use or operation of such Parcel
or (ii) any taking which would permit the tenant under the sole Lease
for such Parcel to terminate such Lease.

(b)     Assignment of
Proceeds. If (a) neither Seller
nor Buyer elects to designate a Parcel as an Excluded Parcel if all or
any significant portion of the Property is
taken, or (b) a portion of the Property not constituting a significant portion
of the Property is taken or becomes
subject to a pending taking by eminent domain, there is no abatement of
the Purchase Price; provided, however, that, at the Closing,
Seller shall pay to Buyer the amount of any award for or other proceeds on
account of such taking which have been
actually paid to Seller prior to the Closing Date as a result of such taking
(less all costs and expenses, including attorneys’ fees and costs, incurred by Seller
as of the Closing Date in obtaining payment of such award or proceeds) and, to
the extent such award or proceeds have not been paid, Seller shall assign to
Buyer at the Closing (without recourse to Seller) the rights of Seller to, and
Buyer is entitled to receive and retain, all awards for the taking of the
Property or such portion thereof; provided that Buyer shall pay to Seller all
costs and expenses, including attorneys’ fees and
costs, incurred by Seller as of the Closing Date in seeking to obtain payment
of such award or proceeds.

13.2.  Destruction or Damage

In
the event any of the Parcels are damaged or destroyed prior to the Closing
Date, Seller shall notify Buyer in
writing of such fact promptly after obtaining knowledge thereof. If any such
damage or destruction (a) is an insured casualty and (b) would cost less than
ten percent (10%) of the portion of the
Purchase Price allocated to such Parcel, to repair or restore and would not
permit the tenant under the sole Lease for such to terminate its Lease (a “Non-Material Casualty”), then this
Agreement shall remain in full force and effect and Buyer shall acquire
the Property upon the terms and conditions set forth in this Agreement. In such
event, Buyer shall receive a credit against
the Purchase Price allocated to such Parcel equal to the deductible amount applicable under Seller’s
casualty policy less all costs and expenses, including attorneys’
fees and costs, incurred by Seller as of the Closing Date in connection with the negotiation and/or settlement of the casualty
claim with the insurer (the “Realization Costs”), and Seller shall assign to Buyer all of Seller’s
right, title and interest in and to all proceeds of insurance on account of such damage or destruction. In the
event any Parcel is damaged or
destroyed prior to the Closing Date by a casualty that is not a Non-Material Casualty, then, notwithstanding anything to the
contrary set forth above in this section, Buyer has the right, at its option,
to designate that Parcel as an Excluded Parcel and exclude that Parcel from the
Property. Buyer has thirty (30) days after Seller notifies Buyer that a
casualty has occurred to make such
election by delivery to Seller of a written election notice (the “Election Notice”), and the Closing Date is extended by not more
than thirty (30) days, if necessary,
to provide sufficient time for Buyer to make such election. The failure by
Buyer to deliver the Election Notice
within such thirty (30) day period is deemed an election not to designate that Parcel as an Excluded Parcel. In
the event Buyer elects not to designate a Parcel as an Excluded Parcel as set forth above, this Agreement shall remain in
full force and effect, Seller shall assign to Buyer all of Seller’s right,
title and interest in and to any and all proceeds of insurance on account of such damage or
destruction, if any, and, if the casualty was an insured casualty, Buyer shall receive a credit against the Purchase
Price equal to the deductible or self-insured amount (less the
Realization Costs) under Seller’s casualty insurance policy.

 32
 

13.3.   Insurance

If
Seller currently maintains property insurance on the Property, then Seller
agrees to continue to maintain such
property insurance coverage currently in effect for the Property through the Closing Date.

13.4.  Waiver

The provisions of this
Section 13 supersede the provisions of any applicable Laws with respect to the
subject matter of this Section 13.

14.      ESCROW

The
Deposit and any other sums which the parties agree is held in escrow (in this Agreement collectively called the “Escrow Deposits”),
together with all interest earned thereon,
is held by the Escrow Agent, in trust, and disposed of only in accordance with
the following provisions:

(a)       The Escrow Agent shall invest the Escrow Deposits
in government insured interest-bearing instruments satisfactory to both
Buyer and Seller, shall not commingle the
Escrow Deposits with any funds of the Escrow Agent or others, and shall promptly
provide Buyer and Seller with confirmation of the investments made.

(b)       If the Closing
occurs, the Escrow Agent shall deliver the Escrow Deposits to, or upon
the instructions of, Seller on the Closing Date.

(c)       If for any reason the
Closing does not occur, the Escrow Agent shall deliver the Escrow
Deposits and all interest earned thereon to Seller or Buyer only upon receipt
of a written demand therefor from such party, subject to the following
provisions of this Section 14(c). If for any reason the Closing does not occur
and either party makes a written demand upon the Escrow Agent for payment of
the Escrow Deposits and the interest earned thereon, the Escrow Agent shall
give written notice to the other party of  such
demand. If the Escrow Agent does not receive a written objection from the other
party to the proposed payment within ten (10) days after the giving of such
notice, the Escrow Agent is authorized to make such payment. If the Escrow
Agent does receive such written objection within such period, the Escrow Agent
shall continue to hold such amount until otherwise directed by written
instructions signed by Seller and Buyer or a final
judgment of a court.

(d)       The parties
acknowledge that the Escrow Agent is acting solely as a stakeholder at their request and for their
convenience, that the Escrow Agent shall not be deemed to be the agent of
either of the parties, and that the Escrow Agent shall not be liable to either
of the parties for any action or omission on its part taken or made in good
faith, and not in disregard of this Agreement, but is liable for its negligent
acts and for any loss, cost or expense
incurred by Seller or Buyer resulting from the Escrow Agent’s mistake of
law respecting the Escrow Agent’s scope or nature of its duties. Seller and Buyer shall jointly and severally
indemnify and hold the Escrow Agent harmless from and against all
damages, losses, costs, claims, liabilities, expenses, demands and obligations, including reasonable attorneys’ fees, incurred
in connection with the performance of
the Escrow Agent’s duties under this Agreement, except with respect to actions or omissions taken or made by
the Escrow Agent in bad faith, in disregard of this Agreement or
involving negligence on the part of the Escrow Agent.

(e)       Buyer shall pay any
income taxes on any interest earned on the Escrow Deposits. Buyer represents and warrants to the
Escrow Agent that its taxpayer identification
number is 36-3614035.

 33
 

(f)        The Escrow Agent has executed this
Agreement in the place indicated on the
signature page of this Agreement in order to confirm that the Escrow Agent has received and shall hold the Escrow Deposits and
the interest earned thereon, in escrow, and shall disburse the Escrow Deposits,
and the interest earned thereon, pursuant to the provisions of this Section 14.

15.      LEASING
MATTERS

15.1.  New
Leases; Lease Modifications.

After
the date of this Agreement, except as may be permitted by the terms of this Section
15.1, Seller shall not, without Buyer’s prior written consent, (a) enter into a
New Lease; (b) modify or amend any Lease
(except pursuant to the exercise by a tenant of a renewal, extension or expansion option or other right
contained in such tenant’s Lease); or (c) consent to any assignment or sublease in connection with any
Lease. Seller shall furnish Buyer with a written notice of the proposed
transaction which shall contain information that Seller believes is reasonably necessary to enable Buyer to make
informed decisions with respect to the advisability of the proposed
transaction. If Buyer fails to object in writing to any such proposed transaction within five (5) business days after
receipt of the aforementioned information, Buyer is deemed to have approved the proposed transaction. Buyer’s consent
shall not be unreasonably withheld,
conditioned or delayed with respect to any such transaction that is proposed
prior to the expiration of the Due Diligence Period. Buyer, in its sole and
absolute discretion, is entitled to grant or withhold its consent with
respect to any such transaction that is proposed between the expiration of the
Due Diligence Period and the Closing, unless a Lease requires that the landlord’s consent be given or not unreasonably
withheld, conditioned or delayed, in
which case Buyer shall be held to such standard. Any notice from Buyer
rejecting the proposed transaction shall include a description of the
reasons for Buyer’s rejection. Seller shall deliver to Buyer a true and complete
copy of each such New Lease, renewal or extension agreement, modification, or
amendment, as the case may be, promptly after the execution and delivery
thereof.

15.2.  Lease Enforcement.

Prior
to Closing, Seller has the right, but not the obligation (except to the extent
that Seller’s failure to act shall constitute a waiver of such rights or
remedies), to enforce the rights and remedies
of the landlord under any Lease, by summary proceedings or otherwise (including, without limitation, the right to remove
any tenant), and to apply all or any portion of any security deposits then held by Seller toward any loss or damage
incurred by Seller by reason of any
defaults by tenants, and the exercise of any such rights or remedies shall not affect the obligations of Buyer under this
Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or
give rise to any other claim on the part of Buyer.

15.3.  Intentionally Omitted.

16.      MISCELLANEOUS

16.1.  Assignment.

Buyer
shall not assign this Agreement or its rights under this Agreement to any
individual or entity, except to an
entity or entities which are directly or indirectly controlled by or under common control with or affiliated with The Inland
Group of Real Estate Companies, Inc., without the prior written consent of Seller, which consent Seller may grant or
withhold in its sole discretion, and
any such assignment is null and void ab
initio. In the event of any permitted assignment by Buyer, any assignee shall assume any and all obligations
and liabilities of Buyer

 34

under this Agreement but, notwithstanding such
assumption, Buyer shall continue to be liable under
this Agreement.

16.2.                              Designation
Agreement

Section
6045(e) of the United States Internal Revenue Code and the regulations promulgated
thereunder (in this Agreement collectively called the “Reporting Requirements”) require an
information return to be made to the United States Internal Revenue Service,
and a statement to be furnished to Seller, in connection with the Transaction.
Escrow Agent (“Agent”)is either (x) the person responsible for
closing the Transaction (as described in the Reporting Requirements) or (y) the
disbursing title or escrow company that is most significant in terms of gross
proceeds disbursed in connection with the Transaction (as described in the
Reporting Requirements). Accordingly:

(a)          Agent is designated as the “Reporting Person” (as defined in the Reporting Requirements) for the Transaction. Agent
shall perform all duties that are required
by the Reporting Requirements to be performed by the Reporting Person for the Transaction.

(b)          Seller and Buyer shall furnish to Agent, in a timely manner, any information requested by Agent and necessary for
Agent to perform its duties as Reporting
Person for the Transaction.

(c)          Agent requests Seller to furnish to Agent Seller’s correct taxpayer identification number. Seller acknowledges that any
failure by Seller to provide Agent with Seller’s correct taxpayer
identification number may subject Seller to civil or criminal penalties imposed by law. Accordingly, Seller
certifies to Agent, under penalties of perjury, that Seller’s correct
taxpayer identification number is the FEIN number set forth for each Seller on Schedule 2.

(d)          Each of the parties shall retain this Agreement for a period of four (4)
years following the calendar year during which Closing occurs.

16.3.                              Survival/Merger

As to all Parcels which
are not Prepayment Restricted Parcels, except for the provisions of this Agreement which are explicitly stated to
survive the Closing, (a) none of the terms of this Agreement shall
survive the Closing, and (b) the delivery of the Deed as to such Parcels and any other documents and instruments by Seller and
the acceptance thereof by Buyer shall effect a merger, and be deemed the
full performance and discharge of every obligation on the part of Buyer and Seller to be performed under
this Agreement with respect to those Parcels. As to all Parcels that are
Prepayment Restricted Parcels, all provisions of this Agreement which pertain directly to the Prepayment Restricted
Parcels shall survive the Closing. As to all Parcels which are
Prepayment Restricted Parcels, except for the provisions of this Agreement that
are explicitly stated to survive the
Closing, (a) none of the terms of this Agreement shall survive the Prepayment
Restricted Parcel Closing, and (b) the delivery of the Deed as to such
Prepayment Restricted Parcels and any other documents and instruments by Seller
and the acceptance thereof by Buyer shall effect a merger, and be deemed the
full performance and discharge of every obligation on the part of Buyer and
Seller to be performed under this Agreement with respect to those Prepayment Restricted Parcels.

16.4.                              Integration;
Waiver

This Agreement, together
with the Exhibits hereto, embodies and constitutes the entire understanding
among the parties with respect to the Transaction and all prior agreements, understandings, representations and statements,
oral or written, are merged into this

 35
 

Agreement. Neither this Agreement nor any provision of
this Agreement may be waived, modified,
amended, discharged or terminated except by an instrument signed by the party against
whom the enforcement of such waiver, modification, amendment, discharge or termination is sought, and then only to the
extent set forth in such instrument. No waiver by any party hereto of
any failure or refusal by the other party to comply with its obligations under
this Agreement is deemed a waiver of any other or subsequent failure or refusal
to so comply.

16.5.                              Governing
Law

This
Agreement is governed by, and construed in accordance with, the Laws of the
State of Illinois, except to the extent required to be governed by the
Laws of the State where a Parcel is
located.

16.6.                              Captions
Not Binding; Exhibits

The captions in this
Agreement are inserted for reference only and in no way define, describe or limit the scope or intent of this
Agreement or of any of the provisions of this Agreement. All Exhibits attached
hereto is incorporated by reference as if set out in this Agreement in full.

16.7.                              Binding
Effect

This Agreement is binding
upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns.

16.8.                              Severability

If any term or provision
of this Agreement or the application thereof to any persons or circumstances is
determined to be invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to
persons or circumstances other than those as to that are determined
invalid or unenforceable shall not be affected, and each term and provision of
this Agreement will be valid and enforced to the fullest extent permitted by
law.

16.9.                              Notices

Any notice, request,
demand, consent, approval and other communications under this Agreement is in
writing, and is deemed duly given or made at the time and on the date when received by facsimile (provided that the sender
of such communication shall also send a copy of such communication to the
appropriate parties within one (1) business day of such facsimile) or when
personally delivered as shown on a receipt therefor (which shall include
delivery by a nationally recognized overnight delivery service) or upon receipt
(or refusal of delivery) after being mailed by prepaid certified mail, return
receipt requested, to the address for each party set forth below. Any party, by written notice to the other in the manner
in this Agreement provided, may
designate an address different from that set forth below.

	
  If
  to Seller:

  	
  Bradley Associates Limited
  Partnership

  225 N. Michigan Avenue

  11th Floor

  Chicago, IL 60601

  Attention: Sherwin Jarol

  Telephone No: (312) 819-4308

  Facsimile No.: (312) 819-5410

  

 

 36
 

 

	
   

  	
  Copy To:

  
	
   

  	
   

  
	
   

  	
  Morrie Much, Esq.

  
	
   

  	
  Much Shelist Freed

  
	
   

  	
  191 N. Wacker Drive

  
	
   

  	
  Suite 1800

  
	
   

  	
  Chicago, IL 60601

  
	
   

  	
  Telephone No.: (312) 521-2472

  
	
   

  	
  Facsimile No.:  (312) 521-2372

  
	
   

  	
   

  
	
  If
  to Buyer:

  	
  Inland Real Estate Acquisitions

  
	
   

  	
  Attn: G. Joseph Cosenza, Vice Chairman

  
	
   

  	
  2901 Butterfield Road

  
	
   

  	
  Oak Brook, Illinois 60523

  
	
   

  	
  Phone: 630/218-4948

  
	
   

  	
  Fax: 630/218-4395

  
	
   

  	
   

  
	
   

  	
  Copy To:

  
	
   

  	
   

  
	
   

  	
  Robin Rash, Esq.

  
	
   

  	
  The Inland Real Estate Group, Inc.

  
	
   

  	
  Law Department

  
	
   

  	
  2901 Butterfield Road

  
	
   

  	
  Oak Brook, Illinois 60523

  
	
   

  	
  Phone: 630/218-8000 ext. 2854

  
	
   

  	
  Fax: 630/218-4900

  
	
   

  	
  rash@inlandgroup.com

  

 

16.10.                       Counterparts

This
Agreement may be executed in counterparts, each of which is deemed an original
and all of which counterparts taken together will constitute one and the same
agreement.

16.11.                       No
Recordation

Seller and Buyer each agrees that neither this Agreement
nor any memorandum or notice of this
Agreement is recorded, and Buyer agrees (a) not to file any notice of pendency
or other instrument (other than a
judgment) against the Property or any portion thereof in connection
herewith and (b) to indemnify Seller against all damages, losses, costs,
claims, liabilities, expenses, demands and
obligations, including, without limitation, reasonable attorneys’ fees
and disbursements, incurred by Seller by reason of the filing by Buyer of such notice of pendency or other instrument.

16.12.                       Additional
Agreements; Further Assurances

Subject to the terms and conditions in this Agreement
provided, each of the parties hereto
shall execute and deliver such documents as the other party shall reasonably
request in order to consummate and make effective the Transaction; provided, however,
that the execution and delivery of such documents by such party shall not
result in any additional liability or cost to such party.

16.13.                       Interpretation
and Construction

As
used herein, the words “include,” “includes,” or “including” shall be construed
as if followed by the words “without limitation.” The parties acknowledge that
each party and its counsel have reviewed and revised this Agreement and that
the normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be

 37
 

employed in the
interpretation of this Agreement or any amendment of this Agreement or Exhibit hereto.

16.14.                       Business
Day

As used in this Agreement, the term “business day”
means any day other than a Saturday, Sunday, or any Federal or State of
Illinois holiday. If any period expires on a day which is not a business day or
any event or condition is required by the terms of this Agreement to occur or be fulfilled on a day which is not a
business day, such period shall expire or such event or condition shall
occur or be fulfilled, as the case may be, on the next succeeding business day.

16.15.                       Maximum
Aggregate Liability

Prior
to Closing, the liabilities of the parties is governed by Section 12 of this
Agreement. Once Closing has occurred,
notwithstanding any provision to the contrary contained in this Agreement
or any documents executed by Seller pursuant hereto or in connection herewith,
the maximum aggregate liability of Seller and
the Seller Parties, and the maximum aggregate amount which may be awarded to and collected by Buyer (“Buyer’s Damages”), in connection with the
Transaction or the Property, under this Agreement and under any and all
documents executed pursuant hereto or in connection herewith (including,
without limitation, in connection with the breach of any of Seller’s Warranties
for which a claim is timely made by Buyer) shall be subject to the following limitations. Except in the event of an
intentional misrepresentation by Seller which is timely made by Buyer during
the Claims Survival Period, with respect to any one Parcel, Buyer’s Damages shall not exceed that amount which is equal to
five percent (5%) of the Allocated Purchase Price for such Parcel. In
any case, Buyer’s Damages shall be limited to actual damages suffered by Buyer
arising directly as a result of Seller’s breach, as Seller have no liability whatsoever for matters waived by Buyer
pursuant to Section 10.3(f) of this Agreement
or for consequential or punitive damages. The provisions of this section shall survive
the Closing (and not be merged in this Agreement) or any earlier termination of
this Agreement; provided that any claim by Buyer against Seller as described in
this Section 16.15 must be made by notice to Seller given prior to the
expiration of the Claims Survival Period.

16.16.                       JURISDICTION

WITH RESPECT TO ANY SUIT, ACTION OR PROCEEDINGS RELATING TO
THE TRANSACTION, THIS AGREEMENT, THE PROPERTY OR THE RELATIONSHIP OF BUYER AND SELLER UNDER THIS AGREEMENT (“PROCEEDINGS”)
EACH PARTY IRREVOCABLY (A) SUBMITS TO
THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE COUNTY OF COOK, STATE OF ILLINOIS AND THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS, AND (B) WAIVES ANY OBJECTION WHICH IT
MAY HAVE AT ANY TIME TO THE LAYING OF VENUE OF ANY PROCEEDINGS BROUGHT IN ANY SUCH COURT, WAIVES ANY CLAIM THAT
SUCH PROCEEDINGS HAVE BEEN BROUGHT IN
AN INCONVENIENT FORUM AND FURTHER WAIVES THE RIGHT TO OBJECT, WITH RESPECT TO SUCH PROCEEDINGS, THAT SUCH COURT DOES
NOT HAVE JURISDICTION OVER SUCH PARTY.

16.17.                       WAIVER
OF JURY TRIAL

EACH
PARTY WAIVES TRIAL BY JURY IN ANY PROCEEDINGS BROUGHT BY THE OTHER PARTY IN
CONNECTION WITH ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE
TRANSACTION, THIS AGREEMENT, THE PROPERTY OR THE RELATIONSHIP OF BUYER AND SELLER UNDER THIS AGREEMENT.

 38
 

16.18.                       Facsimile
Signatures

Signatures to this Agreement transmitted by telecopy is
valid and effective to bind the party so signing. Each party agrees to
promptly deliver an execution original of this Agreement with its actual signature to the other party, but
a failure to do so shall not affect the enforceability of this Agreement, it being expressly agreed that
each party to this Agreement is bound by its own telecopied signature and shall
accept the telecopied signature of the other party to this Agreement.

16.19.                       1031
Exchange

If so
requested by Seller, Buyer agrees to cooperate with Seller, at no cost or
liability to Buyer, in effectuating the
purchase and sale of the Property by means of an exchange of “like kind”
property under Section 1031 of the Internal Revenue Code of 1986, as amended.

16.20.                       Seller’s
Audit

Seller agrees to reasonably cooperate with Buyer and Buyer’s
representatives, at no cost or liability to Seller, to facilitate Buyer’s
legal requirements for audited records that qualify and comply with the disclosure laws applicable to Buyer. Further, Seller
agrees to cause Bradley Associates, LLC, the manager of the Property to
execute and deliver the audit letter attached hereto as Exhibit P on or before
the Closing Date.

[Signatures
on next page.]

 39
 

Each
party has caused this Agreement to be duly executed effective as of the day and
year first above written.

 

	
   

  	
   

  	
   

  	
  SELLER:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Bradley Associates Limited Partnership, an

  Illinois limited partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By: Sherwin, LLC, an Illinois limited liability 

  company, Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Sherwin Jarol

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Sherwin
  Jarol, Sole Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  BUYER:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  INLAND
  REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
  /s/
  Joseph Cosenza

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Joseph
  Cosenza

  
	
   

  	
   

  	
   

  	
   

  	
  Title: 

  	
  President              

  
									

 

 40

AGREEMENT OF ESCROW AGENT

The
undersigned has executed this Agreement solely to confirm its agreement to (a) hold
the Escrow Deposits in escrow in accordance with the provisions of this
Agreement and (b) comply with the provisions of Section 14 and Section 16.2.

 

	
   

  	
   

  	
  CHICAGO
  TITLE AND TRUST COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Nancy R. Castro

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Nancy R. Castro

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Vice
  President

  	
   

  
	
   

  	
   

  	
  Date:

  	
  MAY 3 2006

  	
   

  
							

 

SCHEDULE 1

THE PARCELS

Schedule 1   Identification
for Each Parcel of Allocated Purchase Price

	
  #

  	
   

  	
  Property Name

  	
   

  	
  Property type

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  Square feet

  	
   

  	
  Acres

  	
   

  	
  Tenant

  	
   

  	
  ROFO Parcels

  	
   

  	
  Allocated 

  Purchase Price

  
	
  1

  	
   

  	
  100 DeVilbise Drive LP

  	
   

  	
  Industrial (F)

  	
   

  	
  Somerset

  	
   

  	
  PA

  	
   

  	
  155,227

  	
   

  	
  17.1

  	
   

  	
  Sunrise Medical HHG Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  12th Street Investments LLC

  	
   

  	
  Industrial (M)

  	
   

  	
  Mishawaka

  	
   

  	
  IN

  	
   

  	
  136,564

  	
   

  	
  17.7

  	
   

  	
  Krizman International, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  3

  	
   

  	
  14570 Industrial Park Road LP

  	
   

  	
  Industrial (W)

  	
   

  	
  Bristol

  	
   

  	
  VA

  	
   

  	
  106,898

  	
   

  	
  12.7

  	
   

  	
  Zenith Fuel Systems Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  4

  	
   

  	
  1800 Bruning Drive LLC

  	
   

  	
  Industrial (D)

  	
   

  	
  Itasca

  	
   

  	
  IL

  	
   

  	
  202,000

  	
   

  	
  22.0

  	
   

  	
  OCE-USA, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  294 Tollway Venture LP

  	
   

  	
  Industrial (M)

  	
   

  	
  Franklin Park

  	
   

  	
  IL

  	
   

  	
  97,766

  	
   

  	
  5.0

  	
   

  	
  Alkco Manufacturing Company

  	
   

  	
   

  	
   

  	
   

  
	
  6

  	
   

  	
  315 Kirk Road LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  St. Charles

  	
   

  	
  IL

  	
   

  	
  309,900

  	
   

  	
  13.4

  	
   

  	
  Dopaco, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  500 Hartland LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Hartland

  	
   

  	
  WI

  	
   

  	
  134,210

  	
   

  	
  12.0

  	
   

  	
  AMK Holdings Ltd.

  	
   

  	
   

  	
   

  	
   

  
	
  8

  	
   

  	
  520 Metro Parkway LLC

  	
   

  	
  Industrial (W)

  	
   

  	
  Rochester

  	
   

  	
  NY

  	
   

  	
  55,500

  	
   

  	
  3.6

  	
   

  	
  Iron Mountain Records Management, Inc.

  	
   

  	
  X

  	
   

  	
   

  
	
  9

  	
   

  	
  55th Street Investments LLC

  	
   

  	
  Industrial (M)

  	
   

  	
  Kanosha

  	
   

  	
  WI

  	
   

  	
  175,052

  	
   

  	
  10.0

  	
   

  	
  Pure-FLO MCP, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  10

  	
   

  	
  64th Street LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Milwaukee

  	
   

  	
  WI

  	
   

  	
  186,000

  	
   

  	
  21.2

  	
   

  	
  Pechiney Plastic Packaging

  	
   

  	
   

  	
   

  	
   

  
	
  11

  	
   

  	
  Addison Bradley JV

  	
   

  	
  Retail

  	
   

  	
  Addison

  	
   

  	
  IL

  	
   

  	
  28,200

  	
   

  	
  5.2

  	
   

  	
  Office Depot, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  12

  	
   

  	
  Bakersfield Venture LP

  	
   

  	
  Industrial (LI)

  	
   

  	
  Bakersfield

  	
   

  	
  CA

  	
   

  	
  232,396

  	
   

  	
  15.7

  	
   

  	
  Dopaco, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  13

  	
   

  	
  Baymeadow Holding LLC

  	
   

  	
  Industrial (R&D)

  	
   

  	
  Glen Burnie

  	
   

  	
  MD

  	
   

  	
  120,000

  	
   

  	
  7.0

  	
   

  	
  Millennium Inorganic Chemicals Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  14

  	
   

  	
  Bekine Hillside Venture LP

  	
   

  	
  Industrial (LI)

  	
   

  	
  Cranberry Township

  	
   

  	
  PA

  	
   

  	
  70,140

  	
   

  	
  13.0

  	
   

  	
  American Bottling Company

  	
   

  	
   

  	
   

  	
   

  
	
  15

  	
   

  	
  Bradley Associates LLC P/S & P/T

  	
   

  	
  Industrial (W)

  	
   

  	
  Columbus

  	
   

  	
  OH

  	
   

  	
  15,000

  	
   

  	
  2.9

  	
   

  	
  El Dupont de Nemours

  	
   

  	
   

  	
   

  	
   

  
	
  16

  	
   

  	
  Bradley Independence LP

  	
   

  	
  Industrial (LI)

  	
   

  	
  Independence

  	
   

  	
  VA

  	
   

  	
  120,000

  	
   

  	
  8.1

  	
   

  	
  LeROI International Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  17

  	
   

  	
  Bradley Kentwood LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Kentwood

  	
   

  	
  MI

  	
   

  	
  80,000

  	
   

  	
  6.3

  	
   

  	
  Autocam Corporation

  	
   

  	
   

  	
   

  	
   

  
	
  18

  	
   

  	
  Bradley Marshall LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Marshall

  	
   

  	
  MI

  	
   

  	
  57,025

  	
   

  	
  9.6

  	
   

  	
  Autocam Corporation

  	
   

  	
   

  	
   

  	
   

  
	
  19

  	
   

  	
  Bradley Protection One LP (1)

  	
   

  	
  Industrial (F)

  	
   

  	
  Tuscon

  	
   

  	
  AZ

  	
   

  	
  4,768

  	
   

  	
  0.6

  	
   

  	
  Protection One Alarm Monitoring, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  20

  	
   

  	
  Bradley Protection One LP (2)

  	
   

  	
  Industrial (F)

  	
   

  	
  Phoenix

  	
   

  	
  AZ

  	
   

  	
  17,352

  	
   

  	
  6.7

  	
   

  	
  Protection One Alarm Monitoring, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  22

  	
   

  	
  Broadview 16th Street Venture LP

  	
   

  	
  Industrial (W)

  	
   

  	
  Broadview

  	
   

  	
  IL

  	
   

  	
  67,144

  	
   

  	
  2.1

  	
   

  	
  Intech EDM, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  25

  	
   

  	
  Clarion Venture LLC

  	
   

  	
  Industrial (F)

  	
   

  	
  Clarion

  	
   

  	
  IA

  	
   

  	
  126,900

  	
   

  	
  8.3

  	
   

  	
  EDS Corp.

  	
   

  	
   

  	
   

  	
   

  
	
  26

  	
   

  	
  Coloma Property LLC

  	
   

  	
  Industrial (W)

  	
   

  	
  Coloma

  	
   

  	
  MI

  	
   

  	
  423,230

  	
   

  	
  41.2

  	
   

  	
  APL Logistics

  	
   

  	
   

  	
   

  	
   

  
	
  27

  	
   

  	
  Commons Drive LP

  	
   

  	
  Office

  	
   

  	
  Aurora

  	
   

  	
  IL

  	
   

  	
  60,028

  	
   

  	
  6.1

  	
   

  	
  BRK Brands First Alert

  	
   

  	
   

  	
   

  	
   

  
	
  28

  	
   

  	
  Conyers LP

  	
   

  	
  Industrial (F)

  	
   

  	
  Tekonsha

  	
   

  	
  MI

  	
   

  	
  74,480

  	
   

  	
  13.3

  	
   

  	
  Tekonsha Towing Systems, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  29

  	
   

  	
  Crossroads Parkway LP

  	
   

  	
  Industrial (LI)

  	
   

  	
  Bolingbrook

  	
   

  	
  IL

  	
   

  	
  48,024

  	
   

  	
  3.4

  	
   

  	
  Illinois Tool Works Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  30

  	
   

  	
  Deerpark Seaco LLC

  	
   

  	
  Industrial (R&D)

  	
   

  	
  Deer Park

  	
   

  	
  TX

  	
   

  	
  23,216

  	
   

  	
  2.6

  	
   

  	
  Calab Brett USA Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  31

  	
   

  	
  Denver Highlands Holding LLC

  	
   

  	
  Office

  	
   

  	
  Highland Ranch

  	
   

  	
  CO

  	
   

  	
  65,680

  	
   

  	
  5.9

  	
   

  	
  Software AG, Inc.

  	
   

  	
  X

  	
   

  	
   

  
	
  32

  	
   

  	
  Durand Avenue Venture LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  ML Pleasant

  	
   

  	
  WI

  	
   

  	
  194,793

  	
   

  	
  16.0

  	
   

  	
  Sapko International, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  33

  	
   

  	
  Faulkner Road Venture LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  North Little Rock

  	
   

  	
  AR

  	
   

  	
  712,000

  	
   

  	
  121.0

  	
   

  	
  Deluxe Video Services, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  34

  	
   

  	
  Firetower Venture LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Rock Hill

  	
   

  	
  SC

  	
   

  	
  45,000

  	
   

  	
  5.0

  	
   

  	
  Reliance Electric Industrial Company

  	
   

  	
   

  	
   

  	
   

  
	
  35

  	
   

  	
  FR Centerville LLC

  	
   

  	
  Industrial (M)

  	
   

  	
  Centerville

  	
   

  	
  TN

  	
   

  	
  98,150

  	
   

  	
  77.5

  	
   

  	
  ATYS US Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  36

  	
   

  	
  FR Edgarton LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Brookfield

  	
   

  	
  WI

  	
   

  	
  43,450

  	
   

  	
  2.4

  	
   

  	
  AMK Holdings Ltd.

  	
   

  	
   

  	
   

  	
   

  
	
  37

  	
   

  	
  Glen Burnie Venture LLC (1)

  	
   

  	
  Industrial (W)

  	
   

  	
  Conyers

  	
   

  	
  GA

  	
   

  	
  121,600

  	
   

  	
  NA

  	
   

  	
  Wil-Mac Container Corporation

  	
   

  	
   

  	
   

  	
   

  
	
  38

  	
   

  	
  Glen Burnie Venture LLC (2)

  	
   

  	
  Industrial (LI)

  	
   

  	
  Fountain Inn

  	
   

  	
  SC

  	
   

  	
  110,700

  	
   

  	
  35.1

  	
   

  	
  Goglanian Bakeries Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  39

  	
   

  	
  Glendale Heights LP (1)

  	
   

  	
  Retail

  	
   

  	
  Glendale Heights

  	
   

  	
  IL

  	
   

  	
  42,000

  	
   

  	
  3.7

  	
   

  	
  TSA Stores Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  40

  	
   

  	
  Glendale Heights LP (2)

  	
   

  	
  Retail

  	
   

  	
  Glendale Heights

  	
   

  	
  IL

  	
   

  	
  6,620

  	
   

  	
  0.8

  	
   

  	
  ULTA Cosmetics & Salon

  	
   

  	
   

  	
   

  	
   

  
	
  41

  	
   

  	
  Glendale Heights LP (3)

  	
   

  	
  Retail

  	
   

  	
  Glendale Heights

  	
   

  	
  IL

  	
   

  	
  10,000

  	
   

  	
  0.8

  	
   

  	
  Discovery Clothing Company

  	
   

  	
   

  	
   

  	
   

  
	
  42

  	
   

  	
  Guion Road Venture LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Indianapolis

  	
   

  	
  IN

  	
   

  	
  81,600

  	
   

  	
  10.1

  	
   

  	
  North American Packaging Corp.

  	
   

  	
   

  	
   

  	
   

  
	
  43

  	
   

  	
  Gurnee Venture LP

  	
   

  	
  Industrial (W)

  	
   

  	
  Gurnee

  	
   

  	
  IL

  	
   

  	
  43,475

  	
   

  	
  NA

  	
   

  	
  Ameritech Illionis

  	
   

  	
   

  	
   

  	
   

  
	
  44

  	
   

  	
  Houston Lakes Venture LP

  	
   

  	
  Office

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  119,527

  	
   

  	
  9.4

  	
   

  	
  Kelsey Seybold Clinic

  	
   

  	
   

  	
   

  	
   

  
	
  45

  	
   

  	
  Indianapolis Churchman Venture LP

  	
   

  	
  Industrial (LI)

  	
   

  	
  Indianapolis

  	
   

  	
  IN

  	
   

  	
  206,272

  	
   

  	
  21.0

  	
   

  	
  Wavelek Corporation

  	
   

  	
   

  	
   

  	
   

  
	
  46

  	
   

  	
  Industrial Drive LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Horicon

  	
   

  	
  WI

  	
   

  	
  139,000

  	
   

  	
  11.0

  	
   

  	
  Metals USA Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  47

  	
   

  	
  Jamie Venture

  	
   

  	
  Industrial (F)

  	
   

  	
  Alamagordo

  	
   

  	
  NM

  	
   

  	
  9,698

  	
   

  	
  NA

  	
   

  	
  Chaparrel Ven Lines

  	
   

  	
   

  	
   

  	
   

  
	
  48

  	
   

  	
  Kinross Lakes Venture LLC

  	
   

  	
  Office

  	
   

  	
  Richfield

  	
   

  	
  OH

  	
   

  	
  85,214

  	
   

  	
  7.0

  	
   

  	
  Proposal Business Solutions Inc.

  	
   

  	
   

  	
   

  	
   

  

 

 

	
  #

  	
   

  	
  Property Name

  	
   

  	
  Property type

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  Square feet

  	
   

  	
  Acres

  	
   

  	
  Tenant

  	
   

  	
  ROFO Parcels

  	
   

  	
  Allocated 

  Purchase Price

  
	
  49

  	
   

  	
  Kinston LP

  	
   

  	
  Industrial (LI)

  	
   

  	
  Kinston

  	
   

  	
  NC

  	
   

  	
  400,000

  	
   

  	
  20.1

  	
   

  	
  Dopaco, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  51

  	
   

  	
  Lexington Road Venture LLC

  	
   

  	
  Retail

  	
   

  	
  Athens

  	
   

  	
  GA

  	
   

  	
  52,990

  	
   

  	
  11.3

  	
   

  	
  Eastwynn Theatres, Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  52

  	
   

  	
  Libertyvilla Associates LP

  	
   

  	
  Industrial (R&D)

  	
   

  	
  Libertyvilla

  	
   

  	
  IL

  	
   

  	
  197,100

  	
   

  	
  27.0

  	
   

  	
  USG Corp.

  	
   

  	
  x

  	
   

  	
   

  
	
  53

  	
   

  	
  Luna Road Venture LLC

  	
   

  	
  Office

  	
   

  	
  Carrolton

  	
   

  	
  TX

  	
   

  	
  58,989

  	
   

  	
  3.6

  	
   

  	
  AON Services Corp.

  	
   

  	
   

  	
   

  	
   

  
	
  54

  	
   

  	
  Marcia Road LLC

  	
   

  	
  Industrial (W)

  	
   

  	
  Milwaukee

  	
   

  	
  WI

  	
   

  	
  208,150

  	
   

  	
  20.9

  	
   

  	
  Hegemayer Foods (N.A.), Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  55

  	
   

  	
  Mount Zion Road LLC

  	
   

  	
  Industrial (D)

  	
   

  	
  Lebanon

  	
   

  	
  IN

  	
   

  	
  1,091,435

  	
   

  	
  39.0

  	
   

  	
  Peerson Education Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  56

  	
   

  	
  Multi-State Properties LP (1)

  	
   

  	
  Industrial (W)

  	
   

  	
  Maiden

  	
   

  	
  NC

  	
   

  	
  36,752

  	
   

  	
  5.1

  	
   

  	
  Siebe North Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  57

  	
   

  	
  Multi-State Properties LP (2)

  	
   

  	
  Industrial (LI)

  	
   

  	
  Ocate

  	
   

  	
  FL

  	
   

  	
  29,501

  	
   

  	
  2.2

  	
   

  	
  Mako Compressors

  	
   

  	
   

  	
   

  	
   

  
	
  58

  	
   

  	
  Multi-State Properties LP (3)

  	
   

  	
  Industrial (F)

  	
   

  	
  Skokia

  	
   

  	
  IL

  	
   

  	
  44,123

  	
   

  	
  1.6

  	
   

  	
  W. H. Salisbury & Co.

  	
   

  	
   

  	
   

  	
   

  
	
  59

  	
   

  	
  Newmark Properties LP (V)

  	
   

  	
  Office

  	
   

  	
  Miamisburg

  	
   

  	
  OH

  	
   

  	
  73,742

  	
   

  	
  6.6

  	
   

  	
  National City Mortgage Co. & Daymax, LLC

  	
   

  	
   

  	
   

  	
   

  
	
  60

  	
   

  	
  Newmark Properties LP (VI)

  	
   

  	
  Office

  	
   

  	
  Miamisburg

  	
   

  	
  OH

  	
   

  	
  42,812

  	
   

  	
  4.9

  	
   

  	
  National City Mortgage Co.

  	
   

  	
   

  	
   

  	
   

  
	
  61

  	
   

  	
  Newmark Properties LP (VII)

  	
   

  	
  Office

  	
   

  	
  Miamisburg

  	
   

  	
  OH

  	
   

  	
  37,759

  	
   

  	
  3.3

  	
   

  	
  National City Mortgage Co.

  	
   

  	
   

  	
   

  	
   

  
	
  62

  	
   

  	
  Newtown LP

  	
   

  	
  Retail

  	
   

  	
  Virginia Beach

  	
   

  	
  VA

  	
   

  	
  7,488

  	
   

  	
  1.2

  	
   

  	
  Hollywood Entertainment Corp.

  	
   

  	
   

  	
   

  	
   

  
	
  63

  	
   

  	
  Ottawa Bradley LLC

  	
   

  	
  Industrial (F)

  	
   

  	
  Ottawa

  	
   

  	
  IL

  	
   

  	
  38,285

  	
   

  	
  4.8

  	
   

  	
  OfficeMax Contract, Inc.

  	
   

  	
  x

  	
   

  	
   

  
	
  64

  	
   

  	
  Regency Drive LLC

  	
   

  	
  Industrial (LI)

  	
   

  	
  Glendale Heights

  	
   

  	
  IL

  	
   

  	
  56,046

  	
   

  	
  3.9

  	
   

  	
  L-3 Communications

  	
   

  	
   

  	
   

  	
   

  
	
  65

  	
   

  	
  Regional Road Venture LLC

  	
   

  	
  Office

  	
   

  	
  Greensboro

  	
   

  	
  NC

  	
   

  	
  113,526

  	
   

  	
  11.0

  	
   

  	
  EDS Information Services LLC

  	
   

  	
  x

  	
   

  	
   

  
	
  66

  	
   

  	
  Sanfee Investment Property LLC

  	
   

  	
  Office

  	
   

  	
  Santoe

  	
   

  	
  CA

  	
   

  	
  77,000

  	
   

  	
  8.2

  	
   

  	
  Hartford Fire Insurance Company

  	
   

  	
   

  	
   

  	
   

  
	
  67

  	
   

  	
  Tri-State Holdings LLC (1)

  	
   

  	
  Industrial (LI)

  	
   

  	
  Wood Date

  	
   

  	
  IL

  	
   

  	
  137,607

  	
   

  	
  8.2

  	
   

  	
  Entegra Fasteners Corp.

  	
   

  	
   

  	
   

  	
   

  
	
  68

  	
   

  	
  Tri-State Holdings LLC (2)

  	
   

  	
  Industrial (LI)

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  223,599

  	
   

  	
  30.0

  	
   

  	
  Lamons Metal Gasket Company

  	
   

  	
   

  	
   

  	
   

  
	
  69

  	
   

  	
  Tri-State Holdings LLC (3)

  	
   

  	
  Industrial (LI)

  	
   

  	
  Mosines

  	
   

  	
  WI

  	
   

  	
  193,200

  	
   

  	
  39.2

  	
   

  	
  Fulton Performance Products Inc.

  	
   

  	
   

  	
   

  	
   

  
	
  70

  	
   

  	
  Union Venture LLC

  	
   

  	
  Industrial (D)

  	
   

  	
  Westchester

  	
   

  	
  OH

  	
   

  	
  970,168

  	
   

  	
  57.0

  	
   

  	
  Cornerstone Consolidated Services Group, Inc.

  	
   

  	
  x

  	
   

  	
   

  
	
  73

  	
   

  	
  Westport Investment LLC

  	
   

  	
  Industrial (D)

  	
   

  	
  Mechanicsburg

  	
   

  	
  PA

  	
   

  	
  176,600

  	
   

  	
  11.2

  	
   

  	
  FMC Corp.

  	
   

  	
   

  	
   

  	
   

  
	
  87

  	
   

  	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  9,554,873

  	
   

  	
  836

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 2

FIRST
AMENDMENT TO PURCHASE AND SALE AGREEMENT

THIS FIRST AMENDMENT TO PURCHASE
AND SALE AGREEMENT (“First Amendment”) is made effective
as of May 16, 2006, by Bradley Associates
Limited Partnership, an
Illinois limited partnership (“Bradley”) and INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Buyer”).

RECITALS:

A.            On
May 2, 2006, Bradley and Inland entered into that certain Purchase and Sale Agreement (the “Agreement”)
with respect to those certain parcels of real property described in Schedule 1
of the Agreement.

B.            The parties wish to amend the Agreement as more fully
described below.

Therefore, in consideration of the
mutual covenants and agreements set forth, the parties agree as follows:

1.             Due Diligence Period. The parties agree that the
definition of Due Diligence Period contained in Paragraph 1 of the Agreement is
amended in its entirety to read as follows:

“Due Diligence
Period” means the period
commencing on the Commencement Date and
expiring on June 30, 2006.

2.             Allocated Purchase Price. The parties agree that the last sentence of Paragraph 3 of the Agreement
is amended in its entirety to read as follows:

“If the parties are unable to
agree on the allocation of the Purchase Price on or before May 23, 2006, then
either party may elect to terminate this Agreement in its entirety by written notice to the other party, in
which event the Deposit shall be delivered to Buyer.”

3.             Miscellaneous. All capitalized
terms which are not expressly defined herein shall
have the same meanings as are ascribed to such terms in the Agreement. The Agreement, as herein amended, is hereby ratified
and confirmed. This First Amendment may be executed in any number of counterparts.

[signatures begin on following
page]

Each party has caused this First Amendment to Purchase
and Sale Agreement to be duly executed effective as of the day and year first
above written.

	
  

  	
   

  	
  SELLER:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Bradley Associates Limited Partnership,
  an 

  Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: Sherwin, LLC, an Illinois limited liability 

  company, Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Sherwin
  Jarol

  	
   

  
	
   

  	
   

  	
   

  	
  Sherwin Jarol,
  Sole Member

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BUYER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC.,
  an 

  Illinois corporation

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Joseph
  Cosenza

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Joseph Cosenza

  
	
   

  	
   

  	
  Title:

  	
  President

  
									

 

	
  

  	
  Inland Real Estate Acquisitions, Inc.

  
	
  2901 Butterfield Road

  
	
  Oak Brook, IL 60523

  
	
  Phone: (630) 218-4948 Fax: 630-218-4935

  
	
  www.inlandgroup.com

  

 

June 28, 2006

VIA FACSIMILE (312) 819-5410 AND UPS

Bradley Associates Limited Partnership

225 N. Michigan Avenue

11th Floor

Chicago, IL 60601

Attention: Sherwin Jarol

Re:          Bradley Portfolio/Purchase and Sale
Agreement

This
letter is written with respect to that Purchase and Sale Agreement (the “Agreement”)
between Bradley Associates Limited Partnership, on behalf of certain parties named in the Agreement, as seller (“Seller”),
and Inland Real Estate Acquisitions, Inc.,
as purchaser (“Inland”), in connection with the purchase and sale of the
properties defined in the Agreement
as the “Real Property.” All capitalized terms not defined herein shall have the meanings ascribed to them in the
Agreement.

As you are aware,
pursuant to the terms of the Agreement, the Due Diligence Period is scheduled
to end on Friday, June 30, 2006. However, certain due diligence matters remain outstanding. Accordingly, Inland
requires that the Due Diligence Period be extended to July 6, 2006. Except for
the extension of the Due Diligence Period as provided above, all terms and provisions of the Agreement
shall remain unchanged as originally written.

Please confirm Seller’s
agreement to the foregoing by having the appropriate party on behalf of Seller sign a copy of this letter on
the line provided below. Once executed, please have one (1) fully
executed copy returned to us by facsimile (630/218-4900, Attn: Robin Rash) no
later than 5:00 p.m., Chicago time, on June 29, 2006 (with the original to follow by overnight delivery service).

Should
Inland not receive a copy of this letter, executed by Seller, by 5:00 p.m., Chicago time, on June 29, 2006, then in order to protect its Earnest
Money, this letter shall serve as Inland’s
notice of termination of the Agreement.

Thanks,
as always, for your assistance.

	
  

  	
   

  	
  Very truly yours,

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INLAND REAL ESTATE ACQUISITIONS,

  INC., an Illinois corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Joseph Cosenza

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Joseph Cosenza

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AGREED:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Bradley Associates Limited Partnership,
  an 

  Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: Sherwin, LLC, an Illinois limited liability

  company, Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Sherwin
  Jarol

  	
   

  
	
   

  	
   

  	
   

  	
  Sherwin Jarol,
  Sole Member

  	
   

  
								

 

 

	
  cc:

  	
  Morrie Much, Esq., Much Shelist Freed, 191 N. Wacker
  Drive, Suite 1800, Chicago, IL 60601 (via facsimile and UPS)

  
	
   

  	
   

  
	
   

  	
  Michael Sadoff, Esq., Much Shelist Freed, 191 N.
  Wacker Drive, Suite 1800, Chicago, IL 60601 (via facsimile and UPS)

  
	
   

  	
   

  
	
   

  	
  Ms. Nancy Castro, Chicago Title Insurance
  Company, 171 N. Clark Street, Chicago, Illinois
  60601 (via facsimile and UPS)

  

 

 2

	
  

  	
  Inland Real Estate Acquisitions, Inc.

  
	
  2901 Butterfield Road

  
	
  Oak Brook, IL 60523

  
	
  Phone: (630) 218-4948 Fax: 630-218-4935

  
	
  www.inlandgroup.com

  

 

July 6, 2006

VIA FACSIMILE (312) 819-5410 AND UPS

Bradley Associates Limited Partnership 

225 N.
Michigan Avenue 

11th Floor 

Chicago, IL 60601 

Attention:
Sherwin Jarol

Re:          Bradley
Portfolio/Purchase and Sale Agreement

This letter is written with respect to that Purchase and
Sale Agreement (the “Agreement”) between Bradley Associates Limited
Partnership, on behalf of certain parties named in the Agreement as seller (“Seller”),
and Inland Real Estate Acquisitions, Inc., as purchaser (“Inland”), in connection with
the purchase and sale of the properties defined in the Agreement as the “Real Property.”
All capitalized terms not defined herein shall have the meanings ascribed to them in the
Agreement.

As
you are aware, pursuant to the terms of the Agreement, the Due Diligence Period is scheduled to end today, July 6, 2006.
However, certain due diligence matters remain outstanding. Accordingly,
Inland requires that the Due Diligence Period be extended to July 10, 2006.
Except for the extension of the Due Diligence Period as provided above, all terms and provisions of the Agreement shall remain
unchanged as originally written.

Please confirm Seller’s agreement to the foregoing by
having the appropriate party on behalf of Seller sign a copy of this letter on
the line provided below. Once executed, please have one (1) fully executed copy
returned to us by facsimile (630/218-4900, Attn: Robin Rash) no later than 5:00
p.m., Chicago time, on July 6, 2006 (with the original to follow by overnight
delivery service).

Should Inland not receive a copy of this letter,
executed by Seller, by 5:00
p.m., Chicago time, on
July 6, 2006, then in order to protect
its Earnest Money, this letter shall serve as Inland’s notice of termination of
the Agreement.

Thanks, as always, for your assistance.

	
  

  	
  Very truly yours,

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS,

  INC., an Illinois corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph Cosenza

  	
   

  
	
   

  	
  Name:

  	
  Joseph Cosenza

  
	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AGREED:

  
	
   

  	
   

  	
   

  
	
   

  	
  Bradley Associates Limited Partnership,

  an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
  By: Sherwin, LLC, an Illinois limited liability
company, Manager

  
	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ Sherwin Jarol

  	
   

  
	
   

  	
   

  	
       Sherwin Jarol, Sole
  Member

  	
   

  
							

 

	
  cc:

  	
  Morrie Much, Esq., Much Shelist Freed, 191 N. Wacker
  Drive, Suite 1800, Chicago, IL 60601 (via facsimile and UPS)

  
	
   

  	
   

  
	
   

  	
  Michael Sadoff, Esq., Much Shelist Freed, 191 N.
  Wacker Drive, Suite 1800, Chicago, IL 60601 (via facsimile and UPS)

  
	
   

  	
   

  
	
   

  	
  Ms. Nancy Castro, Chicago Title Insurance
  Company, 171 N. Clark Street, Chicago, Illinois
  60601 (via facsimile and UPS)

  

 

 2

FOURTH AMENDMENT TO
PURCHASE AND SALE AGREEMENT

This Fourth Amendment to Purchase and Sale Agreement (“Fourth
Amendment”) is made effective as of July 17, 2006, by Bradley
Associates Limited Partnership, an Illinois limited partnership (“Seller”) and Inland Real Estate
Acquisitions, Inc., an Illinois corporation (“Buyer”).

RECITALS

A.            On May 2, 2006, Bradley and Inland
entered into that certain Purchase and Sale Agreement (the “Original Agreement”) with respect
to those certain parcels of real property described in Schedule 1 of the
Agreement. On May 16, 2006, the parties entered into a First Amendment to
Purchase and Sale Agreement (the “First Amendment”). On May 22,
2006, the parties entered into a Second Amendment to Purchase and Sale
Agreement (the “Second Amendment”) and effective May 22, 2006, the parties
entered into a Third Amendment to Purchase and Sale Agreement (the “Third Amendment”).
The Original Agreement as amended by the First Amendment, the Second Amendment
and the Third Amendment is collectively referred to herein as the “Agreement”.

B.            By letter dated July 6, 2006, Buyer
terminated the Agreement and received a refund of the $2,500,000 Earnest Money.

C.            The parties now wish to reinstate
the Agreement on the terms and conditions contained in the Agreement, as
amended by this Fourth Amendment.

D.            Any capitalized terms not otherwise
defined in this Fourth Amendment will have the meaning established in the
Agreement.

Therefore, in consideration
of the mutual covenants and agreements set forth, the parties agree as follows:

1.             Definitions. The Agreement
shall be revised to replace the definitions found therein for the following
terms to be as follows:

(a)                                  “Schedule 1” shall be the schedule attached to
this Fourth Amendment as Exhibit A.

(b)                                  “Allocated Purchase Price” shall mean the
amounts set forth on the scheduled attached to this Fourth Amendment as Exhibit
A.

(c)                                  “Real Property” shall be revised to delete the
number “67” and replace it with the number “33”.

(d)                                 “Title Review Commencement Date” shall mean
the first business day after this Fourth Amendment is executed by both parties.

2.             Purchase Price. The first
full paragraph of Section 3 of the Agreement is deemed deleted and replaced
with the following:

The purchase price (the “Purchase Price”) to be paid by Buyer for
the purchase of the 33 Parcels comprising the Property is Four Hundred Fifty
Four Million Nine Hundred Seventy-Eight Thousand Nine Hundred Forty One and
No/100 Dollars ($454,978,941.00).

3.             Deposit Money. Within one
business day after execution of this Fourth Amendment, Buyer agrees to deposit
in immediately available funds with the Escrow Agent the sum of Six Million
Five Hundred Thousand Dollars ($6,500,000), which amount will then comprise the
Deposit as defined in the Agreement. The Deposit is nonrefundable to Buyer

unless Closing falls to occur due to default
by Seller or the failure of a condition of Closing to occur through no fault of
Buyer. If a Parcel becomes an Excluded Parcel under the Agreement or this
Fourth Amendment, then Buyer will be entitled to a refund of that portion of
the Earnest Money deposit equal to that Parcel’s portion of the Purchase Price
for the Property.

4.             Due Diligence. The parties
acknowledge that the Due Diligence Period has expired and, except for Buyer’s
rights specifically set forth herein, all of Buyer’s rights to terminate the
Agreement in Article 5 and/or to exclude Parcels in Sections 6.1, 6.6, 6.8,
6.10 and 6.11 have expired.

5.             Prepayment Charges. Section 3.4
of the Agreement shall be deemed deleted and replaced with the following:

Buyer agrees that obtaining
financing for Buyer’s purchase of any Parcel is not a condition to Buyer’s
obligations to close this Transaction. At Closing, Buyer agrees to assume the
existing indebtedness on Parcels 31 (Denver Highlands) and 70 (Union Venture)
(collectively, the “Assumed Mortgage Parcels”)
pursuant to one or more assignment, assumption and release agreements
(collectively, the “Mortgage Assignment Agreements”)
customarily required by the holders or servicers of those mortgages (the “Existing Mortgagees”).
Except for these two Parcels, at Closing Seller will convey the Property free
and clear of all mortgage indebtedness provided for in any note or other
evidence of indebtedness (“Note”) secured by a mortgage, deed
of trust or other financing agreement encumbering title to a Parcel (“Mortgage”),
including any and all defeasance costs, charges, premiums or other charges (“Prepayment Charges”)
due in connection therewith provided, however, that Seller’s obligation shall
be conditioned upon receipt of the Purchase Price and Seller is entitled to use
the proceeds of the Purchase Price to make such payments.

6.             Assumption Fees. Section 6.6
of the Agreement shall be deemed deleted and replaced with the following:

Seller has identified two (2)
parcels in the Portfolio listed on Exhibit A as Parcels that may be encumbered
by a Mortgage securing a Note which restricts prepayment (the “Prepayment Restricted
Parcels”).

Seller also agrees to pay the
Prepayment Charges, any and all fees and costs that are required to be paid to
lender in connection with Buyer’s assumption of the existing indebtedness on
Parcels 31 and 70 provided, however, that Seller’s obligation shall be
conditioned upon receipt of the Purchase Price and Seller is entitled to use
the proceeds of the Purchase Price to make such payments.

Seller and Buyer understand
and agree that the consent of the Existing Mortgagees (and if required, any
servicer or special servicer or similar party) is required to the transfer of
each Assumed Mortgage Parcel to, and the related assumption of the existing
mortgages by, Purchaser, and the finalization of all documents required to
effectuate such consent (collectively such consent and finalization of
documents is referred to herein as the “Lender Consent”). Seller agrees,
promptly following the date of this Agreement, to submit written requests to
the appropriate parties for the Lender Consent.

Buyer and Seller each agree to use commercially
reasonable efforts to obtain the Lender Consent Such reasonable efforts
include, without limitation. (i) in the case of Buyer, providing the Existing
Mortgagee (and if required, any servicer or special servicer or similar party)
with all reasonably requested financial and other information relating to Buyer
and its affiliates (including the entity that will assume the existing mortgage
and any replacement guarantor), and (ii) in the case of each of Seller and
Buyer, (x)

 2
 

complying with any other reasonable requests of the Existing Mortgagee
(and if required, any servicer or special servicer or similar party) to
facilitate the obtaining of the Lender Consent, and (y) using commercially
reasonable efforts to satisfy all the other requirements of the existing
mortgages that are applicable to such party in connection with the Lender
Consent. Seller will not be obligated to execute a Mortgage Assignment
Agreement unless the existing borrowers and non-recourse guarantors are
released upon the Closing of this transaction, other than for existing
environmental matters. With respect to the obtaining of the Lender Consent,
each of Seller and Buyer may conduct such conversations, meetings and
negotiations with the Existing Mortgagees (or any servicer or special servicer
or similar party) as it deems necessary or desirable, but each party (A) agrees
to keep the other party apprised of its conversations, meetings and
negotiations with the Existing Mortgagee (or any servicer or special servicer
or similar party), and, to the extent feasible, give the other party the right
to participate in such conversations, meetings and negotiations, and (B) copy
the other party on all correspondence between it and the Existing Mortgagees
(or any servicer or special servicer or similar party). Notwithstanding the foregoing,
Buyer is not required to take any of the following actions (whether pursuant to
the Mortgage Assignment Agreement or otherwise) in connection with the seeking
or granting of the Lender Consent (i) execute any document or instrument, or
otherwise take any action, that would increase (to more than a de minimis
extent) the obligations or liabilities of Buyer beyond the obligations and
liabilities of the borrower presently contained in the existing mortgage loan
documents; (ii) execute any non-recourse carve-out or similar guaranty (other
than a customary hazardous substances indemnity) that covers actions taken or
events occurring prior to the Closing Date; or (iii) increase the amount of
reserves held pursuant to the existing mortgage loan documents or otherwise
modify the existing mortgage loan documents in a manner that is adverse to
Purchaser.

7.             315 Kirk Road.
There is a title exception on Parcel 6 at 315 Kirk Road, St. Charles, Illinois,
which grants to the City of St. Charles the option to purchase Parcel 2 of such
Parcel 6 for $1 upon the termination of the lease with and possession by
DoPaco, Inc. Within one week from this date, Buyer must complete its due
diligence on this issue and Buyer may designate this Parcel an Excluded Parcel
by written notice to Seller within such period. Upon such notice, the Purchase
Price will be reduced by the Allocated Purchase Price for Parcel 6. Upon the
failure of Buyer to exercise such rights, then the title exception shall
constitute a Permitted Exception and Seller shall not be required to remove or
endorse over same.

8.             ROFO Rights.
The first two sentences of Section 6.2 of the Agreement shall be deemed deleted
and replaced with the following:

Seller has identified five (5) Parcels on Schedule
1 as Parcels each of which has a Lease in effect that grants to a tenant of
that Parcel a right of first refusal or right of first offer to purchase the
Parcel (the “ROFO Parcels”). Following the date this Fourth Amendment is fully
executed, Seller will give each of those tenants notice of the existence of
this Agreement and will require exercise or waiver of the tenants’ respective
purchase rights.

9.             Environmental Matters.
Buyer has conducted environmental due diligence of all Parcels comprising the
Property and acknowledges that, except as provided below, the Parcels do not
contain any Environmental Condition as defined in Section 6.1 of the Agreement.
Notwithstanding the foregoing:

(a)          Parcel
33 (Faulkner Road Venture), Parcel 49 (Kinston LP), Parcel 53 (Luna Road
Venture), Parcel 57 (Tri-State Holding), Parcel 26 (Coloma Property), Parcel 52
(Libertyville Associates) and Parcel 38 (Glen Burnie)

 3
 

(collectively the “Phase II Parcels”)
require, in Buyer’s opinion, additional Phase II testing and investigation.
Buyer shall have the right to conduct such Phase II testing on the Phase II
Parcels at Buyer’s sole cost and expense. If the Phase II site investigations
on any one or more of the Phase II Parcels shows the existence of an
Environmental Condition, Buyer may elect to exclude one or more of such Parcels
from this Agreement by delivery of written notice to Seller which notice shall
identify the Parcel to be excluded from this Agreement and which notice must be
delivered to Seller not later than forty-five (45) days from the date of this
Fourth Amendment. If Buyer exercises such rights under this Section to exclude
one or more of the Phase II parcels, then (i) each identified Phase II Parcel
will then constitute an Excluded Parcel; (ii) Seller will amend Schedule 1 to
delete that Parcel from the definition of “Property”; and (iii) the Purchase
Price will be reduced by the Allocated Purchase Price for each such Parcel, but
the Confidentiality Agreement and the Access Agreement will remain in effect as
to those Excluded Parcels, other than the provisions of the Access Agreement
giving Buyer the right of entry onto the Parcel. If the Phase II site
investigations show the existence of a condition at a Phase II Parcel which (x)
involves the presence of hazardous materials or a potential violation of
environmental laws, and (y) would cost less than or equal to Fifty Thousand
Dollars ($50,000) to remediate, then at Seller’s option and subject to the
approval of Buyer’s lender, (A) Seller will either remediate and cure such
condition prior to Closing (and the Closing Date as to such parcel(s) will be
extended by up to 30 days to enable Seller to complete the remediation); (B) at
Seller’s option, Buyer will be entitled to a credit at Closing against the
Allocated Purchase Price for that Parcel in the amount reasonably necessary to
remedy and cure such condition; or (C) Seller may elect not to remediate and
cure or give Buyer a credit and, upon such election by Seller, Buyer may
exclude such Parcel from the Property and the Purchase Price will be reduced by
the Allocated Purchase Price of that Parcel; and

(b)          Buyer’s
duty to purchase Parcel 5 (294 Tollway) is conditioned on the receipt prior to
Closing of a so-called “no further action” letter from the Illinois
Environmental Protection Agency that is commercially reasonably acceptable to
Buyer (the “NFA Letter”). If the
NFA Letter is not received prior to Closing, then Buyer may exclude Parcel 5
and the Purchase Price will be reduced by the Allocated Purchase Price for
Parcel 5.

10.          Escrow. Paragraph
14 (c) of the Agreement is amended to read as follows:

If (i) the Closing does not occur due to a default by
Seller or due to the failure of one of the conditions of Closing to occur, the
Escrow Agent shall deliver the Escrow Deposits and all interest earned thereon
to Buyer; or (ii) If the Closing does not occur due to a default by Buyer the
Escrow Agent shall deliver the Escrow Deposits and all interest earned thereon
to Seller, but in either event only upon receipt of a written demand therefor from
such party, subject to the following provisions of this Section 14(c).
If for any reason the Closing does not occur and either party makes a
written demand upon the Escrow Agent for payment of the Escrow Deposits and the
interest earned thereon, the Escrow Agent shall give written notice to the
other party of such demand. If the Escrow Agent does not receive a written
objection from the other party to the proposed payment within five (5) days
after the giving of such notice, the Escrow Agent is authorized to make such
payment. If the Escrow Agent does receive such written objection within such
period, the Escrow Agent shall continue to hold such amount until otherwise
directed by written instructions signed by Seller and Buyer or a final judgment
of a court.

 4

11.       Deferred Maintenance Credits.

(a) The parties acknowledge that certain Parcels are
in need of immediate repairs that Seller elects not to make. In lieu of such
repairs, Seller agrees to grant the following credits to Seller at Closing:

	
  Parcel

  	
   

  	
  Deferred Maintenance Credit

  	
   

  
	
  62 (Newtown)

  	
   

  	
  $

  	
  31,000

  	
   

  
	
  39 (Glendale – 1)

  	
   

  	
  $

  	
  31,000

  	
   

  
	
  26 (Coloma)

  	
   

  	
  $

  	
  98,000

  	
   

  
	
  Total

  	
   

  	
  $

  	
  160,000

  	
   

  

(b) Reports obtained by Buyer suggest that the
following Parcels are also in need of repairs. The tenants may be responsible
for such repairs. Buyer promptly agrees to deliver to Seller engineering
reports and Seller agrees to notify the tenants of such deferred maintenance
items. If the tenants fail to acknowledge in writing prior to the Closing Date
that such items are the tenant’s responsibility under the lease, then at
Closing Seller agrees to deposit in escrow at Closing cash required to complete
any needed repair work, not to exceed the following sums:

	
  Parcel

  	
   

  	
  Amount

  	
   

  
	
  52 (Libertyville)

  	
   

  	
  $

  	
  346,000

  	
   

  
	
  5 (294 Tollway)

  	
   

  	
  $

  	
  360,000

  	
   

  
	
  Total

  	
   

  	
  $

  	
  706,000

  	
   

  

If either tenant fails to provide written
acknowledgement of its responsibility under the lease for such repairs, then
Seller may either complete some or all of the repairs itself subject to Buyer’s
commercially reasonable approval or may cause the respective tenants to do so
within a period of one year from the Closing Date. If Seller causes the repair
work to be performed before the Closing Date, then the work is also subject to
Buyer’s reasonably commercial approval. Seller reserves the right before and
after Closing to enforce all of landlord’s rights under the lease to compel
tenants to perform their respective repair and maintenance obligation under the
leases, but Seller may not terminate the tenant’s lease or right of possession.
Upon completion of all or part of the repairs by Seller or tenants, Seller will
be entitled to withdraw from the escrow reserve the amounts allocated for such
work toward the repairs.

12.       Lost
Rent Credit. A new lease has been signed for Parcel 41 (Glendale Heights –
3), but the new tenant is likely to start paying rent after the Closing Date.
At Closing, Seller agrees to grant a credit to Buyer equal to the rent and
related estimated Common Area Maintenance charges under the lease from the
Closing Date to the projected rent commencement date under the new lease.
Seller agrees to pay the leasing commission, tenant improvement allowance and
such other costs required of Landlord under the new lease to put the tenant in possession
of the Parcel.

13.       Reinstatement
and No Other Changes. The Agreement is reinstated and except as modified by
this Fourth Amendment, the Agreement is in full force and effect. To the extent
that the provisions of this Fourth Amendment and the Contract conflict, the
terms and provisions of this Fourth Amendment shall control.

14.       Tax
Credit Parcels. Seller provided Buyer with a list of Tax Credit Parcels
pursuant to Section 7.3(d), but Buyer has not yet responded and approved. Buyer
agrees to

 5
 

respond within five (5) days from this date. If Buyer fails to respond,
then only Parcel 25 (Clarion Venture) will be the Tax Credit Parcel. If Buyer
responds within such period and disagrees with Seller, then the parties agree
to cooperate in good faith to determine if other Parcels should be added as Tax
Credit, but if the parties cannot agree on additional Tax Credit parcels within
thirty (30) days from this date, then upon notice from Buyer, the disputed Tax
Credit Parcel may be excluded from the Property.

15.       Lease
Buyout Right. Office Max is the tenant of Parcel 63 (Ottawa Bradley), but
wishes to buyout of its lease. Seller will continue its discussions and
negotiations regarding the term of the contemplated lease buyout, but Seller
agrees not to conclude its negotiations without Buyer approval. If at Closing,
the terms as proposed are not approved by Buyer, then Buyer may exclude Parcel
63 from the Property and the Purchase Price will be reduced by the Allocated
Purchase Price for that Parcel 63.

16.       Counterparts.
This Fourth Amendment 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.

17.       Choice
of Law. This Fourth Amendment is governed by, and construed in accordance
with, the Laws of the State of Illinois, except to the extent required to be
governed by the Laws of the State where a Parcel is located.

18.       Management
Agreement. Neither party has submitted a proposed form of Management
Agreement. The last sentence of Section 3.5 of the Agreement is therefore
deleted and the following is substituted:

At least 10 business days prior to Closing, Buyer will
submit a proposed form of Management Agreement with Bradley Associates Limited
Partnership. The parties will cooperate in good faith to agree upon a mutually
acceptable form with terms as reflected in this Section 3.5. In the absence of
an approved agreement, the management fees will nevertheless be paid as
prescribed.

In addition, the management fee will be reduced to
1.5% from 2.0% per year.

19.       TIC
Approval. Seller’s right to exclude a Parcel under Section 6.9 of the
Agreement must be exercised, if at all, within 30 days from this date.

20.       Kinross
Due Diligence. Within one week from this date, Buyer has the right to
arrange an interview with the tenant of Parcel 48 (Kinross) and a
representative of Seller. Following such joint interview, Sherwin Jarol on
behalf of Seller and Joe Cosenza on behalf of Buyer agree to discuss the
meeting. If those persons do not agree tenant will likely stay at the Parcel
upon expiration of the lease term, then Buyer has the right for a period of one
week following such discussion to provide written notice to Seller that Buyer
elects to exclude Parcel 48 from the Property and, upon the exercise of such
right, the Purchase Price will be reduced by the Allocated Purchase Price for
that Parcel.

Each party has caused this Fourth Amendment to
Purchase and Sale Agreement to be duly executed effective as of the day and
year first above written.

[Signatures on
next page.]

 6
 

 

	
  

  	
   

  	
  SELLER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BRADLEY ASSOCIATES LIMITED

  PARTNERSHIP, an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Sherwin, LLC, an Illinois limited liability

  company, Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Sherwin
  Jarol

  
	
   

  	
   

  	
   

  	
   

  	
  Sherwin Jarol, Sole Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BUYER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an

  Illinois corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ G. Joseph
  Cosenza

  
	
   

  	
   

  	
   

  	
  Name:

  	
  G. Joseph
  Cosenza

  
	
   

  	
   

  	
   

  	
  Title:

  	
  President

  
						

 

 7

EXHIBIT A

	
  Bradley #

  	
   

  	
  PARCEL NAME

  	
   

  	
  LOCATION

  	
   

  	
  PURCHASE

  PRICE

  	
   

  	
  ROFO

  PARCELS

  	
   

  	
  PREPAY

  RESTRICTED

  PARCELS

  	
   

  	
  PHASE II

  PARCELS

  
	
  4

  	
   

  	
  1800 Bruning Drive LLC

  	
   

  	
  Itasca, IL

  	
   

  	
  $

  	
  19,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  294 Tollway Venture LP

  	
   

  	
  Franklin Park, IL

  	
   

  	
  $

  	
  8,092,882.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6

  	
   

  	
  315 Kirk Road LLC

  	
   

  	
  St. Charles, IL

  	
   

  	
  $

  	
  14,362,684.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  500 Hartland LLC

  	
   

  	
  Hartland, WI

  	
   

  	
  $

  	
  10,801,167.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9

  	
   

  	
  55th Street Investments LLC

  	
   

  	
  Kenosha, WI

  	
   

  	
  $

  	
  13,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13

  	
   

  	
  Baymeadow Holding LLC

  	
   

  	
  Glen Burnie, MD

  	
   

  	
  $

  	
  26,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  25

  	
   

  	
  Clarion Venture LLC

  	
   

  	
  Clarion, IA

  	
   

  	
  $

  	
  5,241,409.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  26

  	
   

  	
  Coloma Property LLC

  	
   

  	
  Coloma, MI

  	
   

  	
  $

  	
  18,798,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  27

  	
   

  	
  Commons Drive LP

  	
   

  	
  Aurora, IL

  	
   

  	
  $

  	
  8,272,976.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  30

  	
   

  	
  Deerpark Seaco LLC

  	
   

  	
  Deer Park, TX

  	
   

  	
  $

  	
  5,851,190.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  31

  	
   

  	
  Denver Highlands Holdings LLC

  	
   

  	
  Highland Ranch, CO

  	
   

  	
  $

  	
  14,600,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  
	
  33

  	
   

  	
  Faulkner Road Venture LLC

  	
   

  	
  North Little Rock, AR

  	
   

  	
  $

  	
  45,674,520.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  36

  	
   

  	
  FR Edgerton LLC

  	
   

  	
  Brookfield, WI

  	
   

  	
  $

  	
  2,400,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  38

  	
   

  	
  Glen Burnie Venture LLC (2)

  	
   

  	
  Fountain Inn, SC

  	
   

  	
  $

  	
  5,268,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  39

  	
   

  	
  Glendale Heights LP (1)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  5,746,821.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40

  	
   

  	
  Glendale Heights LP (2)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,835,597.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  41

  	
   

  	
  Glendale Heights LP (3)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,889,661.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  44

  	
   

  	
  Houston Lakes Venture LP

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  17,266,669.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  46

  	
   

  	
  Industrial Drive LLC

  	
   

  	
  Horicon, WI

  	
   

  	
  $

  	
  7,378,804.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  48

  	
   

  	
  Kinross Lakes Venture LLC

  	
   

  	
  Richfield, OH

  	
   

  	
  $

  	
  17,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  49

  	
   

  	
  Kinston LP

  	
   

  	
  Kinston, NC

  	
   

  	
  $

  	
  16,265,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  51

  	
   

  	
  Lexington Road Venture LLC

  	
   

  	
  Athens, GA

  	
   

  	
  $

  	
  10,452,853.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  52

  	
   

  	
  Libertyville Associates LP

  	
   

  	
  Libertyville, IL

  	
   

  	
  $

  	
  26,500,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  
	
  53

  	
   

  	
  Luna Road Venture LLC

  	
   

  	
  Carollton, TX

  	
   

  	
  $

  	
  9,270,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  62

  	
   

  	
  Newtown LP

  	
   

  	
  Virginia Beach, VA

  	
   

  	
  $

  	
  1,695,693.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  63

  	
   

  	
  Ottawa Bradley LLC

  	
   

  	
  Ottawa, IL

  	
   

  	
  $

  	
  3,300,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  65

  	
   

  	
  Regional Road Venture LLC

  	
   

  	
  Greensboro, NC

  	
   

  	
  $

  	
  13,000,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  66

  	
   

  	
  Santee Investment Property LLC

  	
   

  	
  Santee, CA

  	
   

  	
  $

  	
  19,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  67

  	
   

  	
  Tri-State Holdings LLC (1)

  	
   

  	
  Wood Dale, IL

  	
   

  	
  $

  	
  9,272,149.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  68

  	
   

  	
  Tri-State Holdings LLC (2)

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  13,560,394.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  69

  	
   

  	
  Tri-State Holdings LLC (3)

  	
   

  	
  Mosinee, WI

  	
   

  	
  $

  	
  9,382,462.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  70

  	
   

  	
  Union Venture LLC

  	
   

  	
  Westchester, OH

  	
   

  	
  $

  	
  64,800,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  
	
  73

  	
   

  	
  Westport Investment LLC

  	
   

  	
  Mechanicsburg, PA

  	
   

  	
  $

  	
  7,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total

  	
   

  	
   

  	
   

  	
  $

  	
  454,978,941.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

FIFTH AMENDMENT TO
PURCHASE AND SALE AGREEMENT

This Fifth Amendment to
Purchase and Sale Agreement (“Fifth Amendment”)
is made effective as of August 4, 2006, by Bradley Associates Limited
Partnership, an Illinois limited partnership (“Seller”) and Inland Real Estate Acquisitions, Inc., an
Illinois corporation (“Buyer”).

RECITALS

A.                      On May 2,
2006, Bradley and Inland entered into that certain Purchase and Sale Agreement
(the “Original Agreement”) with
respect to those certain parcels of real property described in Schedule 1 of
the Agreement. On May 16, 2006, the parties entered into a First Amendment to
Purchase and Sale Agreement (the “First
Amendment”). On May 22, 2006, the parties entered into a Second
Amendment to Purchase and Sale Agreement (the “Second Amendment”) and effective May 22, 2006, the parties
entered into a Third Amendment to Purchase and Sale Agreement (the “Third Amendment”). On July 17, 2006, the parties entered into a Fourth
Amendment to Purchase and Sale Agreement (the “Fourth Amendment”). The Original Agreement as amended by the
First Amendment, the Second Amendment, the Third Amendment and the Fourth
Amendment is collectively referred to herein as the “Agreement”.

B.                        Any
capitalized terms not otherwise defined in this Fifth Amendment will have the meaning established in the Agreement.

Therefore, in
consideration of the mutual covenants and agreements set forth, the parties
agree as follows:

1.                         Definitions.
The Agreement shall be revised to replace the definitions found therein for the
following terms to be as follows:

(a)                    “Schedule
1” shall be the scheduled attached to this Fifth Amendment as Exhibit A.

(b)                   “Allocated
Purchase Price” shall mean the amounts set forth on the schedule attached to
this Fifth Amendment as Exhibit A.

(c)                    “Real
Property” shall be revised to delete the number “33” and replace it with the
number “34”.

2.                         Purchase
Price. The first full paragraph of Section 3 of the Agreement is deemed
deleted and replaced with the following:

The purchase price (the “Purchase Price”) to be paid by Buyer for the purchase of the
34 Parcels comprising the Property is Five Hundred Two Million One Hundred
Seventy Eight Thousand Nine Hundred Forty One and No/100 Dollars
($502,178,941.00).

3.                         Deposit
Money. Within One business day after execution of this Fifth Amendment,
Buyer agrees to deposit in immediately available funds with the Escrow Agent
the sum of Six Hundred Seventy Four Thousand Three Hundred Seventeen and No/100
Dollars ($674,317) (the “Additional Deposit”) which, together with the previous
Deposit of Six Million Five Hundred Thousand Dollars ($6,500,000.00), will then
comprise the Deposit as defined in the Agreement. The Deposit is nonrefundable
to Buyer unless Closing fails to occur due to default by Seller or the failure
of a condition of Closing to occur through no fault of Buyer.

4.                         Environmental
Matters. Parcel 33 (Faulkner Road Venture) is deleted from the list of
Phase II Parcels as described in the Fourth Amendment and Parcel 5 (294
Tollway) is added to that list.

5.                         Kinross
Due Diligence. In lieu of Section 20 to the Fourth Amendment the Buyer
has the right to receive the 2005 annual financial statements of Proquest
Business Solutions, Inc., the tenant in Parcel 48 (Kinross Lake Venture, LLC).
Buyer will have until the earlier of (a) 10 days from the date of receipt of
such financial statements; or (b) September 30, 2006 in order to exclude Parcel
48 from the Property. Upon exercise of the exclusion right, the Purchase Price
will be reduced by the Allocated Purchase Price for Parcel 48.

6.                         Closing
Date. The definition of Closing Date in Section 1 of the Purchase and
Sale Agreement dated May 2, 2006 is amended to read as follows:

“Closing Date” means for each Parcel that
date that is ten (10) business days following the end of the Title Review
Period for each Parcel, or such other date on which Seller and Buyer may
mutually agree for closing of the Transaction, or such later date as the
Closing may be extended to pursuant to the provisions of this Agreement;
provided, however, that upon written notice to Buyer, Seller shall have the
right to extend the Closing Date by up to thirty (30) days in order to fulfill
Seller’s obligations hereunder provided Seller is using commercially reasonable
efforts to do so. The parties agree to cooperate in the scheduling of multiple
Closings for the Parcels in a diligent and orderly manner.

7.                         Counterparts.
This Fifth Amendment 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.

8.                         Choice
of Law. This Fifth Amendment is governed by, and construed in
accordance with, the Laws of theState
of Illinois, except to the extent required to be governed by the Laws of the
State where a Parcel is located.

Each party has caused
this Fifth Amendment to Purchase and Sale Agreement to be duly executed
effective asof the day and year
first above written.

[Signatures on next page.]

 2
 

 

	
  

  	
   

  	
  SELLER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BRADLEY ASSOCIATES LIMITED
  PARTNERSHIP,

  an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Sherwin, LLC, an Illinois limited liability

  company, Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Sherwin
  Jarol

  
	
   

  	
   

  	
   

  	
   

  	
  Sherwin Jarol, Sole Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BUYER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INLAND REAL ESTATE
  ACQUISITIONS, INC., an

  Illinois corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
						

 

 3

	
  

  	
   

  	
  SELLER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BRADLEY ASSOCIATES LIMITED
  PARTNERSHIP,

  an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Sherwin, LLC, an Illinois limited liability

  company, Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Sherwin Jarol, Sole Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BUYER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INLAND REAL ESTATE
  ACQUISITIONS, INC., an

  Illinois corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Illegible

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
						

 

EXHIBIT A

 

	
  Bradley #

  	
   

  	
  PARCEL NAME

  	
   

  	
  LOCATION

  	
   

  	
  PURCHASE

  PRICE

  	
   

  	
  ROFO

  PARCELS

  	
   

  	
  PREPAY

  RESTRICTED

  PARCELS

  	
   

  	
  PHASE II

  PARCELS

  
	
  4

  	
   

  	
  1800 Bruning Drive LLC

  	
   

  	
  Itasca, IL

  	
   

  	
  $

  	
  19,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  294 Tollway Venture LP

  	
   

  	
  Franklin Park, IL

  	
   

  	
  $

  	
  8,092,882.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  6

  	
   

  	
  315 Kirk Road LLC

  	
   

  	
  St. Charles, IL

  	
   

  	
  $

  	
  14,362,694.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  500 Hartland LLC

  	
   

  	
  Hartland, WI

  	
   

  	
  $

  	
  10,801,167.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9

  	
   

  	
  55th Street Investments LLC

  	
   

  	
  Kenosha, WI

  	
   

  	
  $

  	
  13,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13

  	
   

  	
  Baymeadow Holding LLC

  	
   

  	
  Glen Burnie, MD

  	
   

  	
  $

  	
  26,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  25

  	
   

  	
  Clarion Venture LLC

  	
   

  	
  Clarion, IA

  	
   

  	
  $

  	
  5,241,409.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  26

  	
   

  	
  Coloma Property LLC

  	
   

  	
  Coloma, MI

  	
   

  	
  $

  	
  18,798,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  27

  	
   

  	
  Commons Drive LP

  	
   

  	
  Aurora, IL

  	
   

  	
  $

  	
  8,272,976.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  30

  	
   

  	
  Deerpark Seaco LLC

  	
   

  	
  Deer Park, TX

  	
   

  	
  $

  	
  5,851,190.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  31

  	
   

  	
  Denver Highlands Holdings LLC

  	
   

  	
  Highland Ranch, CO

  	
   

  	
  $

  	
  14,600,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  
	
  33

  	
   

  	
  Faulkner Road Venture LLC

  	
   

  	
  North Little Rock, AR

  	
   

  	
  $

  	
  45,674,520.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  36

  	
   

  	
  FR Edgerton LLC

  	
   

  	
  Brookfield, WI

  	
   

  	
  $

  	
  2,400,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  38

  	
   

  	
  Glen Burnie Venture LLC (2)

  	
   

  	
  Fountain Inn, SC

  	
   

  	
  $

  	
  5,268,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  
	
  39

  	
   

  	
  Glendale Heights LP (1)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  5,746,821.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40

  	
   

  	
  Glendale Heights LP (2)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,835,597.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  41

  	
   

  	
  Glendale Heights LP (3)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,889,681.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  44

  	
   

  	
  Houston Lakes Venture LP

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  17,266,669.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  46

  	
   

  	
  Industrial Drive LLC

  	
   

  	
  Horicon, WI

  	
   

  	
  $

  	
  7,378,804.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  48

  	
   

  	
  Kinross Lakes Venture LLC

  	
   

  	
  Richfield, OH

  	
   

  	
  $

  	
  17,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  49

  	
   

  	
  Kinston LP

  	
   

  	
  Kinston, NC

  	
   

  	
  $

  	
  16,285,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  51

  	
   

  	
  Lexington Road Venture LLC

  	
   

  	
  Athens, GA

  	
   

  	
  $

  	
  10,452,853.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  52

  	
   

  	
  Libertyville Associates LP

  	
   

  	
  Libertyville, IL

  	
   

  	
  $

  	
  26,500.000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  
	
  53

  	
   

  	
  Luna Road Venture LLC

  	
   

  	
  Carollton, TX

  	
   

  	
  $

  	
  9,270,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  55

  	
   

  	
  Mount Zion Road, LLC

  	
   

  	
  Lebanon, IN

  	
   

  	
  $

  	
  47,200,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  62

  	
   

  	
  Newtown LP

  	
   

  	
  Virginia Beach, VA

  	
   

  	
  $

  	
  1,895,693.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  63

  	
   

  	
  Ottawa Bradley LLC

  	
   

  	
  Ottawa, IL

  	
   

  	
  $

  	
  3,300,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  
	
  65

  	
   

  	
  Regional Road Venture LLC

  	
   

  	
  Greensboro, NC

  	
   

  	
  $

  	
  13,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  66

  	
   

  	
  Santee Investment Property LLC

  	
   

  	
  Santee, CA

  	
   

  	
  $

  	
  19,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  67

  	
   

  	
  Tri-State Holdings LLC (1)

  	
   

  	
  Wood Dale, IL

  	
   

  	
  $

  	
  9,272,149.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  
	
  68

  	
   

  	
  Tri-State Holdings LLC (2)

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  13,560,394.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  69

  	
   

  	
  Tri-State Holdings LLC (3)

  	
   

  	
  Mosinee, WI

  	
   

  	
  $

  	
  9,382,462.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  70

  	
   

  	
  Union Venture LLC

  	
   

  	
  Westchester, OH

  	
   

  	
  $

  	
  64,800,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  
	
  73

  	
   

  	
  Westport Investment LLC

  	
   

  	
  Mechanicsburg, PA

  	
   

  	
  $

  	
  7,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total

  	
   

  	
   

  	
   

  	
  $

  	
  502,178,941.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 2

SIXTH
AMENDMENT TO PURCHASE AND SALE AGREEMENT

This Sixth Amendment to
Purchase and Sale Agreement (“Sixth Amendment”)
is made effective as of August 30, 2006, by Bradley Associates Limited
Partnership, an Illinois limited partnership (“Seller”) and Inland Real Estate Acquisitions, Inc., an
Illinois corporation (“Buyer”).

RECITALS

A.                      On May 2,
2006, Bradley and Inland entered into that certain Purchase and Sale Agreement
(the “Original Agreement”) with
respect to those certain parcels of real property described in Schedule 1 of
the Agreement. On May 16, 2006, the parties entered into a First Amendment to
Purchase and Sale Agreement (the “First
Amendment”). On May 22, 2006, the parties entered into a Second
Amendment to Purchase and Sale Agreement (the “Second Amendment”) and effective May 22, 2006, the parties
entered into a Third Amendment to Purchase and Sale Agreement (the “Third Amendment”). On July 17, 2006, the
parties entered into a Fourth Amendment to Purchase and Sale Agreement (the “Fourth Amendment”). On August 4, 2006, the
parties entered into a Fifth Amendment to Purchase and Sale Agreement (the “Fifth Amendment”). The Original Agreement
as amended by the First Amendment, the Second Amendment the Third Amendment,
the Fourth Amendment and the Fifth Amendment is collectively referred to herein
as the “Agreement”.

B.                        Any
capitalized terms not otherwise defined in this Sixth Amendment will have the
meaning established in the Agreement.

Therefore, in
consideration of the mutual covenants and agreements set forth, the parties
agree as follows:

1.                         Definitions.
The Agreement shall be revised to replace the definitions found therein for the
following terms to be as follows:

(a)                     “Schedule 1”
shall be the scheduled attached to this Sixth Amendment as Exhibit A.

(b)                    “Allocated
Purchase Price” shall mean the amounts set forth on the schedule attached to
this Sixth Amendment as Exhibit A.

(c)                     “Real
Property” shall be revised to delete the number “34” and replace it with the
number “33”.

2.                         Deleted
Parcel. Parcel number 53 (Luna Road Venture) is deleted from the
Schedule 1 list of Parcels comprising the Property.

3.                         Purchase
Price. The first full paragraph of Section 3 of the Agreement is deemed
deleted and replaced with the following:

The purchase price (the “Purchase Price”) to be paid by Buyer for
the purchase of the 33 Parcels now comprising the Property is Four Hundred
Ninety-Two Million Nine Hundred Eight Thousand Nine Hundred Forty One and
No/100 Dollars ($492,908,941.00).

4.                         Environmental
Due Diligence. The site investigation period for Environmental
Conditions on the Phase II Parcels (as defined in the Fourth Amendment, except
now excluding Parcel 53) is extended to September 22, 2006.

5.                         Closing
Date. The definition of Closing Date in Section 1 of the Purchase and
Sales Agreement dated May 2, 2006 is further amended to read as follows:

“Closing Date” means for each Parcel that
date that is ten (10) business days following the end of the Title Review
Period for each Parcel, but in any event no sooner than September

25, 2005 or such other date on which Seller and Buyer may mutually
agree for closing of the Transaction, or such later date as the Closing may be
extended to pursuant to the provisions of this Agreement; provided, however,
that upon written notice to Buyer, Seller shall have the right to extend the
Closing Date by up to thirty (30) days in order to fulfill Seller’s obligations
hereunder provided Seller is using commercially reasonable efforts to do so.
The parties agree to cooperate in the scheduling of multiple Closings for the
Parcels in a diligent and orderly manner.

6.                         Counterparts.
This Sixth Amendment 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.

7.                         Choice
of Law. This Sixth Amendment is governed by, and construed in
accordance with, the Laws of the State of Illinois, except to the extent
required to be governed by the Laws of the State where a Parcel is located.

Each party has caused
this Sixth Amendment to Purchase and Sale Agreement to be duly executed
effective as of the day and year first above written.

[Signatures on
next page.]

 

 2
 

 

	
  

  	
   

  	
  SELLER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BRADLEY ASSOCIATES LIMITED PARTNERSHIP,

  
	
   

  	
   

  	
  an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Sherwin, LLC, an Illinois limited liability

  
	
   

  	
   

  	
   

  	
  company, Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By: 

  	
  /s/ Sherwin Jarol

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Sherwin Jarol, Sole Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BUYER:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an

  
	
   

  	
   

  	
  Illinois corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ G. Joseph Cosenza

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
									

 

 3

EXHIBIT
A

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  PREPAY

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  PURCHASE

  	
   

  	
  ROFO

  	
   

  	
  RESTRICTED

  	
   

  	
  PHASE II

  	
   

  
	
  Bradley #

  	
   

  	
  PARCEL NAME

  	
   

  	
  LOCATION

  	
   

  	
  PRICE

  	
   

  	
  PARCELS

  	
   

  	
  PARCELS

  	
   

  	
  PARCELS

  	
   

  
	
  4

  	
   

  	
  1800 Bruning Drive LLC

  	
   

  	
  Itasca, IL

  	
   

  	
  $

  	
  19,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  294 Tollway Venture LP

  	
   

  	
  Franklin Park, IL

  	
   

  	
  $

  	
  8,092,882.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  6

  	
   

  	
  315 Kirk Road LLC

  	
   

  	
  St. Charles, IL

  	
   

  	
  $

  	
  14,362,694.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  500 Hartland LLC

  	
   

  	
  Hartland, WI

  	
   

  	
  $

  	
  10,801,167.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9

  	
   

  	
  55th Street Investments
  LLC

  	
   

  	
  Kenosha, WI

  	
   

  	
  $

  	
  13,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13

  	
   

  	
  Baymeadow Holding LLC

  	
   

  	
  Glen Burnie, MD

  	
   

  	
  $

  	
  26,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  25

  	
   

  	
  Clarion Venture LLC

  	
   

  	
  Clarion, IA

  	
   

  	
  $

  	
  5,241,409.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  26

  	
   

  	
  Coloma Property LLC

  	
   

  	
  Coloma, Ml

  	
   

  	
  $

  	
  18,798,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  27

  	
   

  	
  Commons Drive LP

  	
   

  	
  Aurora, IL

  	
   

  	
  $

  	
  8,272,976.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  30

  	
   

  	
  Deerpark Seaco LLC

  	
   

  	
  Deer Park, TX

  	
   

  	
  $

  	
  5,851,190.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  31

  	
   

  	
  Denver Highlands
  Holdings LLC

  	
   

  	
  Highland Ranch, CO

  	
   

  	
  $

  	
  14,600,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  	
   

  
	
  33

  	
   

  	
  Faulkner Road Venture
  LLC

  	
   

  	
  North Little Rock, AR

  	
   

  	
  $

  	
  45,674,520.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  36

  	
   

  	
  FR Edgerton LLC

  	
   

  	
  Brookfield, WI

  	
   

  	
  $

  	
  2,400,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  38

  	
   

  	
  Glen Burnie Venture LLC
  (2)

  	
   

  	
  Fountain Inn, SC

  	
   

  	
  $

  	
  5,268,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  39

  	
   

  	
  Glendale Heights LP (1)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  5,746,821.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40

  	
   

  	
  Glendale Heights LP (2)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,835,597.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  41

  	
   

  	
  Glendale Heights LP (3)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,889,661.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  44

  	
   

  	
  Houston Lakes Venture LP

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  17,266,669.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  46

  	
   

  	
  Industrial Drive LLC

  	
   

  	
  Horicon, WI

  	
   

  	
  $

  	
  7,378,804.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  48

  	
   

  	
  Kinross Lakes Venture
  LLC

  	
   

  	
  Richfield, OH

  	
   

  	
  $

  	
  17,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  49

  	
   

  	
  Kinston LP

  	
   

  	
  Kinston, NC

  	
   

  	
  $

  	
  16,265,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  51

  	
   

  	
  Lexington Road Venture
  LLC

  	
   

  	
  Athens, GA

  	
   

  	
  $

  	
  10,452,853.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  52

  	
   

  	
  Libertyville Associates
  LP

  	
   

  	
  Libertyville, IL

  	
   

  	
  $

  	
  26,500,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  55

  	
   

  	
  Mount Zion Road, LLC

  	
   

  	
  Lebanon, IN

  	
   

  	
  $

  	
  47,200,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  62

  	
   

  	
  Newtown LP

  	
   

  	
  Virginia Beach, VA

  	
   

  	
  $

  	
  1,895,693.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  63

  	
   

  	
  Ottawa Bradley LLC

  	
   

  	
  Ottawa, IL

  	
   

  	
  $

  	
  3,300,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  65

  	
   

  	
  Regional Road Venture
  LLC

  	
   

  	
  Greensboro, NC

  	
   

  	
  $

  	
  13,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  66

  	
   

  	
  Santee Investment
  Property LLC

  	
   

  	
  Santee, CA

  	
   

  	
  $

  	
  19,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  67

  	
   

  	
  Tri-State Holdings LLC (1)

  	
   

  	
  Wood Dale, IL

  	
   

  	
  $

  	
  9,272,149.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  68

  	
   

  	
  Tri-State Holdings LLC (2)

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  13,560,394.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  69

  	
   

  	
  Tri-State Holdings LLC (3)

  	
   

  	
  Mosinee, WI

  	
   

  	
  $

  	
  9,382,462.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  70

  	
   

  	
  Union Venture LLC

  	
   

  	
  Westchester, OH

  	
   

  	
  $

  	
  64,800,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  	
   

  
	
  73

  	
   

  	
  Westport Investment LLC

  	
   

  	
  Mechanicsburg, PA

  	
   

  	
  $

  	
  7,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total

  	
   

  	
   

  	
   

  	
  $

  	
  492,908,941.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

SEVENTH
AMENDMENT TO PURCHASE AND SALE AGREEMENT

This Seventh Amendment to Purchase and Sale Agreement
(“Seventh
Amendment”) is made effective as of December 7, 2006, by
Bradley Associates Limited Partnership, an Illinois limited partnership (“Seller”)
and Inland Real Estate Acquisitions, Inc., an Illinois corporation (“Buyer”).

RECITALS

A.                      On
May 2, 2006, Bradley and Inland entered into that certain Purchase and Sale
Agreement (the “Original Agreement”) with respect to
those certain parcels of real property described in Schedule 1 of the
Agreement. On May 16, 2006, the parties entered into a First Amendment to
Purchase and Sale Agreement (the “First Amendment”). On May 22, 2006,
the parties entered into a Second Amendment to Purchase and Sale Agreement (the
“Second
Amendment”) and effective May 22, 2006, the parties entered
into a Third Amendment to Purchase and Sale Agreement (the “Third
Amendment”). On July 17, 2006, the parties entered into a
Fourth Amendment to Purchase and Sale Agreement (the “Fourth Amendment”).
On August 4, 2006, the parties entered into a Fifth Amendment to Purchase and
Sale Agreement (the “Fifth Amendment”). On August 30,
2006, the parties entered into a Sixth Amendment to Purchase and Sale Agreement
(the “Sixth
Amendment”). The Original Agreement as amended by the First
Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the
Fifth Amendment and the Sixth Amendment is collectively referred to herein as
the “Agreement”.

B.                        Any
capitalized terms not otherwise defined in this Seventh Amendment will have the
meaning established in the Agreement.

Therefore, in consideration of the mutual covenants
and agreements set forth, the parties agree as follows:

1.                          Definitions.
The Agreement shall be revised to replace the definitions found therein for the
following terms to be as follows:

(a)                    “Schedule 1”
shall be the scheduled attached to this Seventh Amendment as Exhibit A.

(b)                   “Allocated
Purchase Price” shall mean the amounts set forth on the schedule attached to
this Seventh Amendment as Exhibit A.

(c)                    “Real Property”
shall be revised to delete the number “33” and replace it with the number “32”.

2.                          Purchase
Price. The first full paragraph of Section 3 of the Agreement is deemed
deleted and replaced with the following:

The purchase price (the “Purchase Price”) to
be paid by Buyer for the purchase of the 32 Parcels comprising the Property is
Four Hundred Eighty Seven Million Six Hundred Forty Thousand Nine Hundred Forty
One and No/100 Dollars ($487,640,941.00).

3.                          Deleted
Parcel; Deposit. Parcel Number 38, (Glen Burnie Venture LLC, Fountain Inn,
South Carolina) is deleted from the Schedule 1 list of Parcels comprising the
Property. The Escrow Agent is authorized to disburse to Purchaser the sum of
Seventy-Six Thousand Six Hundred Seventy-Six and 03/100ths Dollars
($76,676.03), representing the portion of the Deposit allocated to Parcel
Number 38.

4.                          Counterparts.
This Seventh Amendment 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.

5.                          Choice
of Law. This Seventh Amendment is governed by, and construed in accordance
with, the Laws of the State of Illinois, except to the extent required to be
governed by the Laws of the State where a Parcel is located.

Each party has caused
this Fifth Amendment to Purchase and Sale Agreement to be duly executed
effective as of the day and year first above written.

[Signatures on next
page.]

 

 2
 

 

	
  

  	
  SELLER:

  
	
   

  	
   

  
	
   

  	
  BRADLEY
  ASSOCIATES LIMITED PARTNERSHIP, 

  an Illinois limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Sherwin, LLC, an
  Illinois limited liability

  
	
   

  	
   

  	
  company, Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Sherwin Jarol

  	
   

  
	
   

  	
   

  	
   

  	
  Sherwin Jarol,
  Sole Member

  
	
   

  	
   

  
	
   

  	
  BUYER:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL
  ESTATE ACQUISITIONS, INC., an Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ G. Joseph Cosenza

  	
   

  
	
   

  	
   

  	
  Name:

  	
  G. Joseph
  Cosenza

  	
   

  
	
   

  	
   

  	
  Title:

  	
  President

  	
   

  
						

 

 3

EXHIBIT A

	
  Bradley
  #

  	
   

  	
  PARCEL NAME

  	
   

  	
  LOCATION

  	
   

  	
  PURCHASE

  PRICE

  	
   

  	
  ROFO

  PARCELS

  	
   

  	
  PREPAY

  RESTRICTED

  PARCELS

  	
   

  	
  PHASE II

  PARCELS

  	
   

  
	
  4

  	
   

  	
  1800 Bruning Drive LLC

  	
   

  	
  Itasca, IL

  	
   

  	
  $

  	
  19,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  294 Tollway Venture LP

  	
   

  	
  Franklin Park, IL

  	
   

  	
  $

  	
  8,092,882.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  6

  	
   

  	
  315 Kirk Road LLC

  	
   

  	
  St. Charles, IL

  	
   

  	
  $

  	
  14,362,694.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  500 Hartland LLC

  	
   

  	
  Hartland, WI

  	
   

  	
  $

  	
  10,801,167.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9

  	
   

  	
  55th Street Investments
  LLC

  	
   

  	
  Kenosha, WI

  	
   

  	
  $

  	
  13,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13

  	
   

  	
  Baymeadow Holding LLC

  	
   

  	
  Glen Burnie, MD

  	
   

  	
  $

  	
  26,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  25

  	
   

  	
  Clarion Venture LLC

  	
   

  	
  Clarion, IA

  	
   

  	
  $

  	
  5,241,409.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  26

  	
   

  	
  Coloma Property LLC

  	
   

  	
  Coloma, MI

  	
   

  	
  $

  	
  18,798,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  27

  	
   

  	
  Commons Drive LP

  	
   

  	
  Aurora, IL

  	
   

  	
  $

  	
  8,272,976.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  30

  	
   

  	
  Deerpark Seaco LLC

  	
   

  	
  Deer Park, TX

  	
   

  	
  $

  	
  5,851,190.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  31

  	
   

  	
  Denver Highlands
  Holdings LLC

  	
   

  	
  Highland Ranch, CO

  	
   

  	
  $

  	
  14,600,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  	
   

  
	
  33

  	
   

  	
  Faulkner Road Venture
  LLC

  	
   

  	
  North Little Rock, AR

  	
   

  	
  $

  	
  45,674,520.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  36

  	
   

  	
  FR Edgerton LLC

  	
   

  	
  Brookfield, WI

  	
   

  	
  $

  	
  2,400,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  39

  	
   

  	
  Glendale Heights LP (1)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  5,746,821.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40

  	
   

  	
  Glendale Heights LP (2)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,835,597.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  41

  	
   

  	
  Glendale Heights LP (3)

  	
   

  	
  Glendale Heights, IL

  	
   

  	
  $

  	
  1,889,661.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  44

  	
   

  	
  Houston Lakes Venture LP

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  17,266,669.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  46

  	
   

  	
  Industrial Drive LLC

  	
   

  	
  Horicon, WI

  	
   

  	
  $

  	
  7,378,804.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  48

  	
   

  	
  Kinross Lakes Venture
  LLC

  	
   

  	
  Richfield, OH

  	
   

  	
  $

  	
  17,500,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  49

  	
   

  	
  Kinston LP

  	
   

  	
  Kinston, NC

  	
   

  	
  $

  	
  16,265,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  51

  	
   

  	
  Lexington Road Venture
  LLC

  	
   

  	
  Athens, GA

  	
   

  	
  $

  	
  10,452,853.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  52

  	
   

  	
  Libertyville Associates
  LP

  	
   

  	
  Libertyville, IL

  	
   

  	
  $

  	
  26,500,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  55

  	
   

  	
  Mount Zion Road, LLC

  	
   

  	
  Lebanon, IN

  	
   

  	
  $

  	
  47,200,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  62

  	
   

  	
  Newtown LP

  	
   

  	
  Virginia Beach, VA

  	
   

  	
  $

  	
  1,895,693.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  63

  	
   

  	
  Ottawa Bradley LLC

  	
   

  	
  Ottawa, IL

  	
   

  	
  $

  	
  3,300,000.00

  	
   

  	
  X

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  65

  	
   

  	
  Regional Road Venture
  LLC

  	
   

  	
  Greensboro, NC

  	
   

  	
  $

  	
  13,000,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  66

  	
   

  	
  Santee Investment
  Property LLC

  	
   

  	
  Santee, CA

  	
   

  	
  $

  	
  19,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  67

  	
   

  	
  Tri-State Holdings LLC
  (1)

  	
   

  	
  Wood Dale, IL

  	
   

  	
  $

  	
  9,272,149.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  X

  	
   

  
	
  68

  	
   

  	
  Tri-State Holdings LLC
  (2)

  	
   

  	
  Houston, TX

  	
   

  	
  $

  	
  13,560,394.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  69

  	
   

  	
  Tri-State Holdings LLC
  (3)

  	
   

  	
  Mosinee, WI

  	
   

  	
  $

  	
  9,382,462.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  70

  	
   

  	
  Union Venture LLC

  	
   

  	
  Westchester, OH

  	
   

  	
  $

  	
  64,800,000.00

  	
   

  	
  X

  	
   

  	
  X

  	
   

  	
   

  	
   

  
	
  73

  	
   

  	
  Westport Investment LLC

  	
   

  	
  Mechanicsburg, PA

  	
   

  	
  $

  	
  7,900,000.00

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total

  	
   

  	
   

  	
   

  	
  $

  	
  487,640,941.00Exhibit 10.148

1800
Bruning Drive LLC

1800
Bruning Drive West

Itasca,
Illinois

Bradley
Number 4

Inland Number 1

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 17th day of November, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  4

  
	
  Inland Parcel
  No.

  	
  1

  
	
  Bradley Parcel
  Name:

  	
  1800 Bruning Drive LLC

  
	
  Location:

  	
  Itasca, Illinois

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By acceptance
hereof, Assignee accepts the foregoing Assignment and agrees, from and after
the date hereof, to (i) perform all of the obligations of Purchaser under the
Agreement, and (ii) indemnify, defend, protect and hold Assignor harmless from
and against all claims and liabilities arising under the Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
									

 

 2

315 Kirk
Road LLC

315 Kirk
lRoad

St.
Charles, Illinois

Bradley
Number 6

Inland Number 13

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 9th day of November, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  6

  
	
  Inland Parcel No.

  	
  13

  
	
  Bradley Parcel Name:

  	
  315 Kirk Road LLC

  
	
  Location:

  	
  St. Charles, Illinois

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Lori J. Foust

  	
   

  
	
   

  	
  Name:

  	
  Lori J. Foust

  	
   

  
	
   

  	
  Title:

  	
  Treasurer

  	
   

  
							

 

 2

500
Hartland LLC

500 West
North Shore Drive

Hartland,
Wisconsin

Bradley
Number 7

Inland Number 14

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 19th day of October, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  7

  
	
  Inland Parcel
  No.

  	
  14

  
	
  Bradley Parcel
  Name:

  	
  500 Hartland LLC

  
	
  Location:

  	
  500 West North Shore Drive, Hartland, Wisconsin

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
							

 

 2

55th Street Investments LLC

9625 55th Street

Kenosha,
Wisconsin

Bradley
Number 9

Inland Number 38

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this           
day of October, 2006 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois
corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  9

  
	
  Inland Parcel
  No.

  	
  38

  
	
  Bradley Parcel
  Name:

  	
  55th Street Investments LLC

  
	
  Location:

  	
  Kenosha, Wisconsin

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
							

 

 2

Baymeadow
Holding LLC

6752
Baymeadow Drive

Glen
Burnie, Maryland

Bradley
Number 13

Inland Number 40

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 29th day of November, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB MARYLAND BP PORTFOLIO,
L.L.C., a Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  13

  
	
  Inland Parcel
  No.

  	
  40

  
	
  Bradley Parcel
  Name:

  	
  Baymeadow Holding LLC

  
	
  Location:

  	
  Glen Burnie, Maryland

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB MARYLAND BP PORTFOLIO, L.L.C., a Delaware 

  limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Scott W. Wilton

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Scott W. Wilton

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Secretary

  	
   

  
							

 

 2

Clarion
Venture LLC

300 10th Street NW

Clarion,
Iowa

Bradley
Number 25

Inland Number 8

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 13th day of December, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  25

  
	
  Inland Parcel
  No.

  	
  8

  
	
  Bradley Parcel
  Name:

  	
  Clarion Venture LLC

  
	
  Location:

  	
  Clarion, Iowa

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
							

 

 2

Commons
Drive LP

3901
Liberty Street

Aurora,
Illinois

Bradley
Number 27

Inland Number 52

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 13th day of November, 2006 by INLAND REAL ESTATE ACQUISITIONS,
INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  27

  
	
  Inland Parcel No.

  	
  52

  
	
  Bradley Parcel Name:

  	
  Commons Drive LP

  
	
  Location:

  	
  Aurora, Illinois

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  	
   

  
							

 

 2

Deerpark
Seaco LLC

1114
Seaco Blvd.

Deerpark,
Texas

Bradley
Number 30

Inland Number 41

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 8th day of November, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB TEXAS BP PORTFOLIO LIMITED
PARTNERSHIP, an Illinois limited partnership (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  30

  
	
  Inland Parcel No.

  	
  41

  
	
  Bradley Parcel Name:

  	
  Deerpark Seaco LLC

  
	
  Location:

  	
  Deerpark, Texas

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB Texas BP Portfolio Limited Partnership,

  an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  MB Texas BP Portfolio Gp, L.L.C.,

  a Delaware limited liability company,its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  	
   

  
							

 

Faulkner
Road Venture LLC

9201
Faulkner Lake Road

North
Little Rock, Arkansas

Bradley
Number 33

Inland Number 23

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 12th day of January, 2007 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  33

  
	
  Inland Parcel
  No.

  	
  23

  
	
  Bradley Parcel
  Name:

  	
  Faulkner Road Venture, LLC

  
	
  Location:

  	
  North Little Rock, Arkansas

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
							

 

 2

FR
Edgerton LLC

21875
Doral Road

Brookfield,
Wisconsin

Bradley
Number 36

Inland Number 25

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 18th day of October, 2006 by INLAND REAL ESTATE ACQUISITIONS,
INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  36

  
	
  Inland Parcel
  No.

  	
  25

  
	
  Bradley Parcel
  Name:

  	
  FR Edgerton LLC

  
	
  Location:

  	
  21875 Doral Road, Wisconsin

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
							

 

 2

Glendale
Heights, L.P.

125, 135
and 145 Army Trail Road

Glendale
Heights, Illinois

Bradley
Number 39, 40 and 41

Inland Number 63, 64 and 65

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”)
is made and entered into this 3rd day
of November, 2006 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois
corporation (“Assignor”) and MB BP
PORTFOLIO, L.L.C., a Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  39, 40 and 41

  
	
  Inland Parcel
  No.

  	
  63, 64 and 65

  
	
  Bradley Parcel
  Name:

  	
  Glendale Heights, L.P.

  
	
  Location:

  	
  Glendale Heights, IL

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability

  company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida

  corporation, its sole member

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
						

 

 2

Houston
Lakes Venture LP

8900 The
Lakes at 610 Drive

Houston,
Texas

Bradley
Number 44

Inland
Number 54

 

 

ASSIGNMENT OF CONTRACT

 

This ASSIGNMENT OF
CONTRACT (the “Assignment”) is
made and entered into this 18th day of December,
2006 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB TEXAS BP PORTFOLIO LIMITED PARTNERSHIP, an Illinois
limited partnership (“Assignee”).

 

Assignor does hereby
sell, assign, transfer, set over and convey unto Assignee all of its right,
title and interest as Purchaser under that certain agreement dated as of May 2,
2006, as amended, and entered into by Bradley Associates Limited Partnership,
an Illinois limited partnership, as Seller, and Assignor, as Purchaser (collectively,
the “Agreement”), with respect to the
following Parcel:

 

	
  Bradley Parcel No.:

  	
  44

  
	
  Inland Parcel
  No.

  	
  54

  
	
  Bradley Parcel
  Name:

  	
  Houston Lakes Venture LP

  
	
  Location:

  	
  Houston, Texas

  

 

All capitalized terms not
defined herein shall have the meanings ascribed to them in the Agreement. 

 

Assignor represents and
warrants that it is the Purchaser under the Agreement, and that it has not
sold, assigned, transferred, or encumbered such interest in any way to any
other person or entity.  By acceptance
hereof, Assignee accepts the foregoing Assignment and agrees, from and after
the date hereof, to (i) perform all of the obligations of Purchaser under the
Agreement, and (ii) indemnify, defend, protect and hold Assignor harmless from
and against all claims and liabilities arising under the Agreement.

 

[signatures begin on next page]

SIGNATURE PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB TEXAS BP PORTFOLIO LIMITED PARTERNSHIP,

  an Illinois limited partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  MB Texas BP Portfolio GP, L.L.C.,

  a Delaware limited liability company, its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida

  corporation, its sole member

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Scott W. Wilton

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Scott W. Wilton

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Secretary

  
							

 

 2

  Industrial Drive LLC

301 W. Industrial Drive

Horicon, Wisconsin

Bradley Number 46

Inland Number 29
  ASSIGNMENT
OF CONTRACT
  This
ASSIGNMENT OF CONTRACT (the “Assignment”)
is made and entered into this        day of October,
2006 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).
  Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:
  	  Bradley Parcel No.:
  	  46
  
	  Inland Parcel
  No.
  	  29
  
	  Bradley Parcel
  Name:
  	  Industrial Drive LLC
  
	  Location:
  	  Horicon, Wisconsin
  

   
  All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.
  Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.
  [signatures
begin on next page]

    SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT
  	  
  	  ASSIGNOR:
  
	   
  	   
  
	   
  	  INLAND REAL ESTATE ACQUISITIONS, INC., an

  Illinois corporation
  
	   
  	   
  
	   
  	  By:
  	  /s/ Karen Kautz
  	   
  
	   
  	  Name:
  	  Karen Kautz
  
	   
  	  Title:
  	  Senior Vice President
  
	   
  	   
  	   
  
	   
  	   
  	   
  
	   
  	  ASSIGNEE:
  
	   
  	   
  
	   
  	  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability

  company
  
	   
  	   
  
	   
  	  By:
  	  Minto Builders (Florida), Inc., a Florida

  corporation, its sole member
  
	   
  	   
  
	   
  	   
  	  By:
  	  /s/ Valerie Medina
  	   
  
	   
  	   
  	  Name:
  	  Valerie Medina
  	   
  
	   
  	   
  	  Title:
  	  Assistant Secretary
  
						

   

 2

  Kinross
Lakes Venture LLC
  3900
Kinross Lakes Parkway
  Richfield,
Ohio
  Bradley
Number 48
  Inland
Number 55
   
   
  ASSIGNMENT OF CONTRACT
   
  This ASSIGNMENT OF
CONTRACT (the “Assignment”) is
made and entered into this 10th day of January,
2007 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a Delaware limited liability
company (“Assignee”).
   
  Assignor does hereby
sell, assign, transfer, set over and convey unto Assignee all of its right,
title and interest as Purchaser under that certain agreement dated as of May 2,
2006, as amended, and entered into by Bradley Associates Limited Partnership,
an Illinois limited partnership, as Seller, and Assignor, as Purchaser (collectively,
the “Agreement”), with respect to the
following Parcel:
   
  	  Bradley Parcel No.:
  	  48
  
	  Inland Parcel
  No.
  	  55
  
	  Bradley Parcel
  Name:
  	  Kinross Lakes Venture LLC
  
	  Location:
  	  Richfield, Ohio
  

   
  All capitalized terms not
defined herein shall have the meanings ascribed to them in the Agreement. 
   
  Assignor represents and
warrants that it is the Purchaser under the Agreement, and that it has not
sold, assigned, transferred, or encumbered such interest in any way to any
other person or entity.  By acceptance
hereof, Assignee accepts the foregoing Assignment and agrees, from and after
the date hereof, to (i) perform all of the obligations of Purchaser under the
Agreement, and (ii) indemnify, defend, protect and hold Assignor harmless from
and against all claims and liabilities arising under the Agreement.
   
  [signatures begin on next page]

    SIGNATURE PAGE FOR ASSIGNMENT OF
CONTRACT
   
  	  
  	  ASSIGNOR:
  
	   
  	   
  
	   
  	  INLAND REAL ESTATE ACQUISITIONS, INC., an

  Illinois corporation
  
	   
  	   
  
	   
  	  By:
  	  /s/ Karen Kautz
  	   
  
	   
  	  Name:
  	  Karen Kautz
  
	   
  	  Title:
  	  Senior Vice President
  
	   
  	   
  	   
  
	   
  	   
  	   
  
	   
  	  ASSIGNEE:
  
	   
  	   
  
	   
  	  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability

  company
  
	   
  	   
  
	   
  	  By:
  	  Minto Builders (Florida), Inc., a Florida

  corporation, its sole member
  
	   
  	   
  
	   
  	   
  	  By:
  	  /s/ Valerie
  Medina
  	   
  
	   
  	   
  	  Name:
  	  Valerie Medina
  	   
  
	   
  	   
  	  Title:
  	  Assistant
  Secretary
  	   
  
						

   

 2

Lexington Road Venture LP

1575 Lexington Road

Athens, Georgia

Bradley Number 51

Inland Number 66

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”)
is made and entered into this       day of November,
2006 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  51

  
	
  Inland Parcel
  No.

  	
  66

  
	
  Bradley Parcel
  Name:

  	
  Lexington Road Venture LP

  
	
  Location:

  	
  Athens, Georgia

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability

  company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida

  corporation, its sole member

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  	
   

  
						

 

 2

Newtown
LP

629
Newtown Road

Virginia
Beach, VA

Bradley
Number 62

Inland Number 67

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 1st day of December, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  62

  
	
  Inland Parcel
  No.

  	
  67

  
	
  Bradley Parcel
  Name:

  	
  Newtown LP

  
	
  Location:

  	
  Virginia Beach, Virginia

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Scott W. Wilton

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Scott W. Wilton

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Secretary

  	
   

  
							

 

 2

Ottawa
Bradley LLC

421 E.
Stevenson

Ottawa,
Illinois

Bradley
Number 63

Inland Number 12

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 12th day of January, 2007 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  63

  
	
  Inland Parcel No.

  	
  12

  
	
  Bradley Parcel Name:

  	
  Ottawa Bradley LLC

  
	
  Location:

  	
  Ottawa, IL

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them in
the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie
  Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
							

 

 2

Regional
Road Venture LLC

725
Regional Road

Greensboro,
North Carolina

Bradley
Number 65

Inland Number 60

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 7th day of November, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  65

  
	
  Inland Parcel
  No.

  	
  60

  
	
  Bradley Parcel
  Name:

  	
  Regional Road Venture LLC

  
	
  Location:

  	
  Greensboro, NC

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
   

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/  Lori J.
  Foust

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  	
   

  
							

 

 2

Santee
Investment Property LLC

101 Civic
Center Drive

Santee,
California

Bradley
Number 66

Inland Number 61

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 30th day of November, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB BP PORTFOLIO, L.L.C., a
Delaware limited liability company (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  66

  
	
  Inland Parcel
  No.

  	
  61

  
	
  Bradley Parcel
  Name:

  	
  Santee Investment Property LLC

  
	
  Location:

  	
  Santee, California

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB BP PORTFOLIO, L.L.C., a Delaware limited
  liability 

  company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Valerie Medina

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Valerie Medina

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
							

 

 2

4500
Westport Drive

Mechanicsburg,
PA

Bradley
No. 67

Inland No. 4

ASSIGNMENT
OF CONTRACT

This
ASSIGNMENT OF CONTRACT (the “Assignment”) is made and entered into this 9th day of November, 2006 by INLAND REAL ESTATE
ACQUISITIONS, INC., an Illinois corporation (“Assignor”) and MB PENNSYLVANIA BP PORTFOLIO, DST,
a Delaware statutory trust (“Assignee”).

Assignor
does hereby sell, assign, transfer, set over and convey unto Assignee all of its
right, title and interest as Purchaser under that certain agreement dated as of
May 2, 2006, as amended, and entered into by Bradley Associates Limited
Partnership, an Illinois limited partnership, as Seller, and Assignor, as
Purchaser (collectively, the “Agreement”), with
respect to the following Parcel:

	
  Bradley Parcel No.:

  	
  67

  
	
  Inland Parcel No.

  	
  4

  
	
  Bradley Parcel Name:

  	
  Westport Investments

  
	
  Location:

  	
  Mechanicsburg, PA

  

 

All
capitalized terms not defined herein shall have the meanings ascribed to them
in the Agreement.

Assignor
represents and warrants that it is the Purchaser under the Agreement, and that
it has not sold, assigned, transferred, or encumbered such interest in any way
to any other person or entity.  By
acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from
and after the date hereof, to (i) perform all of the obligations of Purchaser
under the Agreement, and (ii) indemnify, defend, protect and hold Assignor
harmless from and against all claims and liabilities arising under the
Agreement.

[signatures
begin on next page]

SIGNATURE
PAGE FOR ASSIGNMENT OF CONTRACT

	
  

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  INLAND REAL ESTATE ACQUISITIONS, INC., an 

  Illinois corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen Kautz

  	
   

  
	
   

  	
  Name:

  	
  Karen Kautz

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  
	
   

  	
  MB PENNSYLVANIA BP PORTFOLIO, DST, a 

  Delaware statutory trust

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Minto Builders (Florida), Inc., a Florida 

  corporation, its signatory trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Lori J. Foust

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  	
   

  
							

 

 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]