Document:

Exhibit 4.3

 

SECOND SUPPLEMENTAL INDENTURE

 

Dated as of December 16, 2019

 

between

 

CANADIAN IMPERIAL BANK OF COMMERCE

 

As Issuer

 

and

 

DEUTSCHE BANK TRUST COMPANY AMERICAS,

 

As Trustee

 

to the

 

INDENTURE

 

Dated as of September 15, 2012

 

 

SECOND SUPPLEMENTAL INDENTURE, dated as of December 16, 2019 (this “Second Supplemental Indenture”), between Canadian Imperial Bank of Commerce, a Canadian chartered bank (the “Bank”), having its principal executive offices located at Commerce Court, Toronto, Ontario, Canada M5L 1A2, and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), under the Indenture dated as of September 15, 2012, as supplemented by the First Supplemental Indenture thereto, dated as of November 6, 2018 (as so supplemented, the “Indenture”). All capitalized terms used in this Second Supplemental Indenture and not otherwise defined herein have the meanings given to such terms in the Indenture.

 

RECITALS OF THE BANK

 

WHEREAS, the Bank and the Trustee entered into the Indenture, pursuant to which one or more series of Securities may be issued from time to time; and

 

WHEREAS, Section 901(5) of the Indenture provides that the Bank and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental thereto, in form satisfactory to the Trustee, to add to, change or eliminate any of the provisions of the Indenture in respect of one or more series of Securities, provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no Security described in clause (i) Outstanding;

 

WHEREAS, the Bank wishes to make certain changes to the Indenture that will apply only to Securities issued on or after the date of this Second Supplemental Indenture and that will not apply to or modify the rights of Holders of any other Securities; and

 

WHEREAS, the Bank has requested that the Trustee execute and deliver this Second Supplemental Indenture; and all requirements necessary to make this Second Supplemental Indenture a valid, binding and enforceable instrument in accordance with its terms have been satisfied; and the execution and delivery of this Second Supplemental Indenture has been duly authorized in all respects.

 

NOW, THEREFORE, in consideration of the covenants and other provisions set forth in this Second Supplemental Indenture and the Indenture, the Bank and the Trustee mutually covenant and agree with each other, and for the equal and proportionate benefit of the respective Holders of the applicable Securities from time to time, as follows:

 

ARTICLE I

 

PROVISIONS OF GENERAL APPLICATION

 

Section 1.1     Effect of Second Supplemental Indenture on Indenture.

 

This Second Supplement Indenture is a supplement to the Indenture. As supplemented by this Second Supplemental Indenture, the Indenture is in all respects ratified, approved and confirmed, and the Indenture and this Second Supplemental Indenture shall together constitute one and the same instrument.

 

Section 1.2     Governing Law.

 

This Second Supplement Indenture shall be governed by and construed in accordance with the laws of the State of New York.

 

 

ARTICLE II

 

AMENDMENTS

 

Section 2.1     Definition of Terms.

 

The following definitions shall be added to, or where applicable, replace in their entirety, the applicable definitions set forth in Section 101 of the Indenture.

 

The following definitions shall be added to the applicable definitions set forth in Section 101 of the Indenture:

 

“Pricing Supplement” means a pricing supplement relating to a Supplemental Obligation, together with the accompanying prospectus, prospectus supplement and any product-specific prospectus supplement, in each case if and to the extent applicable.

 

“Supplemental Obligation” means the obligations of the Bank, as described in a Pricing Supplement and represented by a Master Global Security, constituting a single “series” (or any part thereof), as such term is used in the Indenture. “Supplemental Obligations” refers to one or more series of such obligations. All references in the Indenture to the “Securities of any series,” the “Securities of the relevant series,” the “Securities of such series” or any substantially similar phrase shall also refer to a Supplemental Obligation or Supplemental Obligations, as the case may be.

 

The following definitions shall be amended in their entirety in Section 101 of the Indenture:

 

“Securities” has the meaning stated in the first recital of the Indenture and more particularly means any Securities authenticated and delivered under the Indenture; provided, that where the Indenture provides for a Security to be executed, authenticated or delivered, such execution, authentication or delivery will be deemed to occur in respect of a Supplemental Obligation upon the making, by the Trustee, the Paying Agent or any other agent of the Bank having custody of the Master Global Security, of the notation on Annex A to the Master Global Security required by the instructions specified in the Bank Order directing the authentication of the Master Global Security; and provided further, that where the Indenture provides for a Security to be delivered or surrendered for the purpose of cancellation, transfer or exchange, such delivery or surrender will be deemed to occur in respect of a Supplemental Obligation upon the deletion or other appropriate modification or amendment with respect to such Supplemental Obligation on such Annex A.

 

Section 2.2.     Amendment to Article Two of the Indenture.

 

The following shall be added as a new Sections 206 and 207 of the Indenture, after current Section 205:

 

“Section 206.  Form of Master Global Security.

 

(Face of Security)

 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF.  THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE REFERRED TO HEREIN.

 

THIS SECURITY IS A MASTER GLOBAL SECURITY WITHIN THE MEANING SPECIFIED HEREIN AND REPRESENTS AN INVESTMENT SECURITY WITHIN THE MEANING OF ARTICLE EIGHT OF THE NEW YORK UNIFORM COMMERCIAL CODE (“NY UCC”).  THIS SECURITY IS GOVERNED

 

3

 

AND SUBJECT TO SECTION 8-202 OF THE NY UCC. THE TERMS OF ANY SUPPLEMENTAL OBLIGATION REPRESENTED HEREBY ARE INCORPORATED BY REFERENCE TO THE APPLICABLE PRICING SUPPLEMENT REFERRED TO HEREIN. BY ACCEPTANCE OF THIS SECURITY, THE HOLDER IS DEEMED TO HAVE KNOWLEDGE OF SUCH TERMS AND TO HOLD SUCH SUPPLEMENTAL OBLIGATIONS SUBJECT TO AND IN ACCORDANCE WITH SUCH TERMS.

 

4

 

CANADIAN IMPERIAL BANK OF COMMERCE

 

Senior Global Medium-Term Notes

Equity Linked Securities

 

Title of Securities:  as provided in the relevant Pricing Supplement for each Supplemental Obligation

 

(MASTER GLOBAL SECURITY)

 

This Security will not constitute a deposit that is insured under

the Canada Deposit Insurance Corporation Act or by the

United States Federal Deposit Insurance Corporation

 

This Security is a Global Security (as defined in Section 101 of the Indenture referred to on the reverse of this Security) and represents one or more Supplemental Obligations, as such term is defined in the Indenture, of Canadian Imperial Bank of Commerce, a Schedule I bank under the Bank Act (Canada) (hereinafter called the “Bank,” which term includes any successor Person under the Indenture), as contemplated therein. The terms for each Supplemental Obligation are and will be reflected in this Security and in the applicable pricing supplement relating to such Supplemental Obligation identified and noted by the Trustee either on Annex A hereto or in the electronic system of the Trustee, and which pricing supplement(s) are on file with the Trustee.  With respect to each Supplemental Obligation, the description and terms of such Supplemental Obligation contained in the applicable pricing supplement (each such pricing supplement, together with such other prospectus, prospectus supplement and any product-specific prospectus supplement designated therein, a “Pricing Supplement”) are hereby incorporated by reference herein and are deemed to be a part of this Security as of the original issue date specified on Annex A hereto or in the electronic system of the Trustee; provided, however, that only the terms specified in the Pricing Supplement that describe the rights and obligations of Holders of this Security, including, but not limited to, Holders’ obligation to agree to treat, for U.S. federal income tax purposes, each Supplemental Obligation consistent with the U.S. federal income tax treatment set forth in the applicable Pricing Supplement, or the rights and obligations of the Bank with respect thereto, including payments due on this Security, are incorporated as terms of this Security and no hypothetical examples, risk factors, historical information or other information provided in the Pricing Supplement shall be used to determine the terms of this Security.  Each reference to “this Security” or a “Security(ies) of a series” includes and shall be deemed to refer to each Supplemental Obligation evidenced hereby that is referenced in a Pricing Supplement.  For the avoidance of doubt, a Pricing Supplement may bear a different name given to a similar document filed by the Bank under the U.S. Securities Act of 1933 pursuant to Rule 424(b) thereof.

 

With respect to each Supplemental Obligation, every term of this Security is subject to modification, amendment, supplementation or elimination through the incorporated terms of the applicable Pricing Supplement, whether or not the phrase “unless otherwise provided in the Pricing Supplement” or language of similar meaning precedes the term of this Security so modified, amended or eliminated. Without limiting the foregoing, in the case of each Supplemental Obligation, the Holder of this Security is directed to the applicable Pricing Supplement for a description of certain terms of such Supplemental Obligation, including the aggregate [principal amount] [units] of the Securities, the manner of determining the amount of cash payable or (if applicable) securities or other assets deliverable at maturity or at any other time (including, without limitation, information relating to any relevant security, securities or basket of securities, currency, currencies or basket of currencies, commodity, commodities or basket of commodities, index, indices or basket of indices, or any combination of the foregoing (each, an “Underlier”) that may be relevant to such determination); the method of determining, and the dates (if any) for the payment and resetting of, interest or other interim payments, if any, on such Supplemental Obligation (including, without limitation, information relating to any applicable interest rate and any Underlier that may be relevant to such determination); the dates, if any, on which the principal amount of and interest, if any, on such Supplemental Obligation is determined and payable; the amount payable upon any acceleration of such Supplemental Obligation; and the [principal amount] [units] of such Supplemental Obligation deemed to be Outstanding for purposes of determining whether Holders of the requisite [principal amount] [units] of Securities have made or given any request, demand, authorization, direction, notice, consent, waiver or other action under the Indenture, including any limitation on the ability of the Holder to seek to collect amounts due hereunder.

 

5

 

This Security is a “Master Global Security,” which means that the terms of each Supplemental Obligation are incorporated herein by reference to the applicable Pricing Supplements, substantially as contemplated herein.  To the extent lawful, in the event any of the terms of any Supplemental Obligation as set forth in the applicable Pricing Supplement are inconsistent with the terms set forth herein or in the Indenture, the terms set forth in the applicable Pricing Supplement shall control.

 

The Bank, for value received, hereby promises to pay to CEDE & CO., or its registered assigns, as nominee of The Depository Trust Company, or its registered assigns,  on each principal payment date, including each amortization date, redemption date, repayment date or maturity date, as applicable, of each Supplemental Obligation, in each case as specified in the applicable Pricing Supplement, and on each interest payment date and at maturity, the principal, settlement amount, interest and/or other amounts then due and payable with respect to such Supplemental Obligation, if any, as so specified in the applicable Pricing Supplement.  Unless otherwise set forth in the applicable Pricing Supplement, any premium and any such installment of interest that is overdue at any time shall also bear interest at the rate per annum at which the principal then bears interest (to the extent that the payment of such interest shall be legally enforceable), from the date any such overdue amount first becomes due until it is paid or made available for payment.  Notwithstanding the foregoing, interest on any principal, premium or installment of interest that is overdue shall be payable on demand.

 

Unless otherwise set forth in the applicable Pricing Supplement, any interest or other periodic distributions on any Supplemental Obligation so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Business Day immediately preceding such Interest Payment Date (a “Regular Record Date”) and the final interest payable at maturity or upon an early redemption, as applicable, will be payable to the Person in whose name this Security (or one or more Predecessor Securities) is registered on the maturity date or the early redemption date, as applicable.

 

Notwithstanding any provision of this Security or the Indenture, the Bank may make any and all payments on any Supplemental Obligation pursuant to the applicable procedures of the Depositary for this Security. Notwithstanding the foregoing, whenever the provisions hereof require that this Security be surrendered against payment of the principal and any premium and interest, such surrender may be effected by means of an appropriate adjustment to Annex A hereto or in the electronic system of the Trustee to reflect the discharge of such payment, such an adjustment shall be made by the Trustee in a manner not inconsistent with the procedures of the Depositary, and in such circumstances this Security need not be surrendered.

 

Notwithstanding any provision of this Security or the Indenture, where any payment date of any Supplemental Obligation shall not be a Business Day at any Place of Payment, then payment of interest or principal (and premium, if any) will be made on the first following Business Day.  No additional interest shall be payable in respect of such accelerated or delayed payment.

 

 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

6

 

IN WITNESS WHEREOF, the Bank has caused this instrument to be duly executed.

 

Dated: December 16, 2019

 

	
 
    	
CANADIAN IMPERIAL BANK   OF COMMERCE
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

7

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

 

Dated: December 16, 2019

 

	
 
    	
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

8

 

(Reverse of Security)

 

CANADIAN IMPERIAL BANK OF COMMERCE

 

Senior Global Medium-Term Notes

Equity Linked Securities

 

This Security is one of a duly authorized issue of securities of the Bank (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of September 15, 2012, as supplemented by the First Supplemental Indenture thereto dated as of November 6, 2018, and the Second Supplemental Indenture thereto dated as of December 16, 2019 (as so supplemented and as it may be amended or supplemented after the date hereof, referred to herein as the “Indenture,” which term shall have the meaning assigned to it in such instrument), among the Bank and Deutsche Bank Trust Company Americas (the “Trustee,” which term includes any successor trustee under the Indenture), Security Registrar and Paying Agent, and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Bank, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered.

 

Unless otherwise set forth in the applicable Pricing Supplement, each Supplemental Obligation is issuable only in registered form without coupons in denominations of [US$1,000] [Units] and any integral multiple of [US$1,000] [Units].  As provided in the Indenture and subject to certain limitations therein set forth, each Supplemental Obligation is exchangeable for a like aggregate [principal amount] [units] of such Supplemental Obligation and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.

 

Unless otherwise set forth in the applicable Pricing Supplement, any Supplemental Obligation represented hereby shall not be redeemable at the option of the Bank before the Maturity thereof.  In the event any Supplemental Obligation is redeemable automatically in accordance with its terms or the Bank elects to redeem (as evidenced by an Officer’s Certificate), notice will be given to Holders in the manner specified in the applicable Pricing Supplement (or if none is so specified, in the manner provided in the Indenture).  In the event of redemption of this Security in part only, appropriate annotation of such partial redemption shall be made on Annex A hereto or in the electronic system of the Trustee.  Unless otherwise set forth in the applicable Pricing Supplement, a sinking fund provision will not be applicable.

 

Article Fourteen of the Indenture relating to defeasance of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security shall not apply to this Security.

 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Bank and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Bank and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected or in certain cases the unanimous consent of each of such Holders. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Bank with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

 

Unless otherwise set forth in the applicable Pricing Supplement, if an Event of Default with respect to the Securities of any series evidenced hereby shall occur and be continuing, the principal of such Securities plus any accrued and unpaid interest (or such other amount as is specified in the applicable Pricing Supplement) may be declared due and payable in the manner and with the effect provided in the Indenture.  Upon payment (i) of the amount of principal and any accrued and unpaid interest so declared due and payable (or such other amount as is specified in the applicable Pricing Supplement) and (ii) of interest on any overdue amounts (in each case to the 

 

9

 

extent that payment of such interest shall be legally enforceable), all of the Bank’s obligations in respect of the payment of the principal of and any interest on such Securities shall terminate.

 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of a certain series, the Holders of not less than 25% in principal amount of the Securities of such series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of such series at the time Outstanding a direction inconsistent with such request and shall have failed to institute any such proceeding for 90 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment hereon on or after the respective due dates expressed herein.

 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Bank, which is absolute and unconditional, to pay the principal amount of this Security at the times, place and rate, and in the coin or currency, herein prescribed.

 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Bank in any place where the principal amount of this Security is payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Bank and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 

This Security shall be subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities. Any such exchange shall be recorded by the Trustee on Annex B hereto or in the electronic system of the Trustee.

 

This Security is a Master Global Security and may be exchanged at any time, solely upon the request of the Bank to the Trustee, for one or more Global Securities in the same aggregate [principal amount] [units], each of which may or may not be a Master Global Security, as requested by the Bank. Any such exchange shall be recorded by the Trustee on Annex B hereto or in the electronic system of the Trustee. Each such replacement Global Security that is a Master Global Security shall reflect such series of Securities that the Bank shall request. Each such replacement Global Security that is not a Master Global Security shall represent one (and only one) Security as requested by the Bank, and such Global Security shall be appropriately modified so as to reflect the terms of such Security.

 

No service charge shall be made for any such registration of transfer or exchange, but the Bank or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

 

Prior to due presentment of this Security for registration of transfer, the Bank, the Trustee and any agent of the Bank or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Bank, the Trustee nor any such agent shall be affected by notice to the contrary.

 

No recourse under or upon any obligation, covenant or agreement of the Indenture or any of the Securities, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, shareholder, officer or director, as such, past, present or future, of the Bank or of any successor corporation, either directly or through the Bank, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that the Indenture and the obligations issued thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, shareholders, officers or directors, as such, of the Bank or of any successor

 

10

 

corporation, or any of them, because of the creation of the indebtedness authorized under the Indenture, or under or by reason of the obligations, covenants or agreements contained in the Indenture or any of the Securities or implied therefrom; and that any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, shareholder, officer or director, as such, because of the creation of the indebtedness authorized under the Indenture, or under or by reason of the obligations, covenants or agreements contained in the Indenture or in any of the Securities or implied therefrom, are expressly waived and released as a condition of, and as a consideration for, the execution of the Indenture and the issue of such Securities.

 

Except as otherwise defined herein, all terms used in this Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

This Security and the Indenture shall be governed by and construed in accordance with the laws of the State of New York.

 

11

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

 

TEN COM - as tenants in common

 

TEN ENT - as tenants by the entireties

 

JT TEN  - as joint tenants with right of survivorship and not as tenants in common

 

UNIF GIFT MIN ACT -

(Minor)

 

Custodian

(Cust)

 

Under Uniform Gifts to Minors Act

(State)

 

Additional abbreviations may also be used though not in the above list.

 

12

 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

 

	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    

 

the within Security and all rights thereunder, hereby irrevocably constituting and appointing                                      attorney to transfer said Security on the books of the Bank, with full power of substitution in the premises.

 

	
Dated:
    	
 
    	
 
    
	
Signature:
    	
 
    	
 
    

 

NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

 

13

 

ANNEX A

 

	
Pricing
   Supplement
   (Name and/or
   SEC Accession
   Number)
    	
 
    	
CUSIP
   Number and
   Title of
   Supplemental Obligation
    	
 
    	
Initial
   [Principal or Face
   Amount] [Units] of
   Supplemental Obligation
    	
 
    	
Original
   Issue Date
    	
 
    	
Decrease in
   [Principal or Face
   Amount] [Units]
    	
 
    	
Increase in
   [Principal or Face
   Amount] [Units]
    	
 
    	
Effective
   Date of
   Increase or
   Decrease
    	
 
    	
Trustee
   Notation
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

[Add additional pages if necessary]

 

 

ANNEX B

 

The following exchanges of a part of this Global Security for physical certificates or part of another Global Security have been made:

 

	
Date of Exchange
    	
 
    	
Amount of Decrease in
   [Principal Amount] [Units] of
   this Global Security
    	
 
    	
Amount of Increase in
   [Principal Amount] [Units] of
   this Global Security
    	
 
    	
[Principal Amount] [Units] of
   this Global Security
   following such
   Decrease (or Increase)
    	
 
    	
Signature of
   Authorized Signatory
   of Trustee
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

15

 

Section 207.     Responsibility of Trustee with respect to Master Global Securities.

 

In addition to all other duties of the Trustee in connection with the issuance of Securities hereunder, the Trustee shall be required to maintain each of the Pricing Supplements and other documents from which the terms of the Securities are incorporated by reference into any Master Global Security and to notate the issuance of any Supplemental Obligation thereunder as directed by the instructions specified in the Bank Order directing the authentication of the Master Global Security. Such notation shall, with respect to any Supplemental Obligation, be deemed to constitute the authentication of such Supplemental Obligation for purposes of the Indenture.

 

Section 2.3.     Amendment to Article Five of the Indenture.

 

Section 501(1) of the Indenture shall be deleted in its entirety and replaced with the following:

 

“(1) default in the payment of the principal of, or interest on, any Security of that series and, in each case, such default continues for a period of longer than 30 Business Days; or”.

 

Section 2.4.     Amendment to Article Eleven of the Indenture.

 

The second sentence of Section 1102 of the Indenture shall be deleted in its entirety and replaced with the following:

 

“In case of any redemption at the election of the Bank of the Securities of any series (including any such redemption affecting only a single Security), the Bank shall, at least 20 Business Days prior to the Redemption Date fixed by the Bank (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed.”

 

 

ARTICLE III

 

MISCELLANEOUS

 

Section 3.1. Counterparts.

 

This Second Supplemental Indenture may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

 

Section 3.2. Trustee.

 

The Trustee makes no representations or warranties as to the validity or sufficiency of this Second Supplemental Indenture.

 

17

 

IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly executed, all as of the day and year first above written.

 

	
 
    	
CANADIAN IMPERIAL BANK   OF COMMERCE
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ WOJTEK   NIEBRZYDOWSKI
    
	
 
    	
 
    	
Name: Wojtek   Niebrzydowski
    
	
 
    	
 
    	
Title: Vice-President,   Global Term Funding, Treasury
    
	
 
    	
 
    	
 
    
	
 
    	
DEUTSCHE BANK TRUST   COMPANY AMERICAS,
    
	
 
    	
as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ JEFFREY   SCHOENFELD
    
	
 
    	
 
    	
Name: Jeffrey   Schoenfeld
    
	
 
    	
 
    	
Title: Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ KATHRYN FISCHER
    
	
 
    	
 
    	
Name: Kathryn Fischer
    
	
 
    	
 
    	
Title: Vice PresidentPURCHASE AND SALE AGREEMENT

    

    

    THIS PURCHASE AND SALE AGREEMENT (this
      “Agreement”) is made as of October 24, 2019 (the “Effective Date”) by and between AEI Income & Growth Fund 24, LLC, a Delaware limited liability company (“Seller”) and DV WYOMING, LLC, a
      Minnesota limited liability company (“Buyer”). Seller desires to sell, and Buyer desires to purchase, all of Seller’s right, title and
      interest in the real property and improvements thereupon located at 3149 Farm Bank Way, Grove City, OH 43123, as more particularly described on Exhibi t “A”
      attached hereto (the “Property”).

    

    

    In consideration of the mutual covenants set forth herein and other good and valuable
      consideration, the receipt and sufficiency of which are hereby mutually acknowledged, the parties hereto covenant and agree as follows:

    

    

    1.   Property. 
      The property to be sold to Buyer in this transaction consists of an undivided 100%

    interest in the Property. Seller owns no interest in any personalty with respect to the Property.

    

    

    2.   Lease. 
      The Property is being sold subject to an existing Lease of the Property dated April 15,

    2008, as amended by that certain First Amendment to Lease dated November 21, 2008, as amended by that certain
      Second Amendment to Lease dated May 26, 2009, and as further amended by that certain Third Amendment to Lease dated October 5, 2012 by and between Seller, as lessor (pursuant to that certain Assignment and Assumption of Leases dated September 17,
      2008 by and between Broadway Professional Village, LLC, an Ohio limited liability company, and FMC Leasing LLC, an Ohio limited liability company, whose interest was subsequently assigned to Seller, as assignee, pursuant to that certain Assignment
      and Assumption of Lease dated September 11, 2014), and Bio-Medical Applications of Ohio, Inc.,

    , a Delaware corporation, d/b/a Fresenius Medical Care Grove City (the “Tenant”) (collectively, the “Lease”). The Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, all right,
      title, and interest of Seller in and to all leases and other agreements to occupy all or any portion of the Property that are in effect on the Effective Date or which Seller executed prior to Closing (as hereinafter defined) pursuant to the terms of
      this Agreement.

    

    

    

    

    

    

    3.   Purchase
          Price. The Purchase Price for the Property is $2,667,360 (the “Purchase Price”).

    If all conditions precedent to Buyer’s obligations to purchase have been satisfied, Buyer shall deposit the
      Purchase Price with the Closing Agent (as defined below) on or before the Closing Date.

    

    

    4.   Terms.  The Purchase Price will be paid by Buyer as follows:

    

    

    a) Within five (5) business days of the Effective Date of this Agreement,
      Buyer will deposit $50,000 (the “Earnest Money”) into an interest-bearing account with First American Title Insurance Company, 1125 17th Street, Denver, Colorado, 80202, Attn: Jordan Dunn; phone number: (303) 876-1152; email: jdunn@firstam.com (the “Closing Agent” or “Title Company”). Upon expiration of the Review Period (as

    
      Page 14 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    defined below), Earnest Money shall become non-refundable. The Earnest Money shall be credited
      against the Purchase Price when and if escrow closes and the sale is completed.

    

    

    b) Buyer will deposit the balance of the Purchase Price into escrow in sufficient time to allow
      escrow to close on the Closing Date.

    

    

    5.   Closing Date. Escrow shall close (the “Closing”) on or before twenty (20) days following the expiration of the
      Financing Contingency Period set forth below (the “Closing
          Date”), unless the parties mutually agree otherwise.

    

    

    6.   Due Diligence. Buyer will have thirty (30) days from the Effective Date of this Agreement (the “Review Period”) to conduct all of its inspections and due
      diligence and satisfy itself regarding the Property and this transaction. Buyer agrees to indemnify and hold Seller harmless for any loss or damage to the Property or persons caused by Buyer or its agents arising out of such physical inspections of
      the Property, and this indemnity shall survive Closing or termination of this Agreement. Within three (3) business days of the Effective Date of this Agreement, Seller shall provide, to the extent such items are in its possession, the items listed on
      Exhibit “B”  (“Seller’s Materials”).

    

    

    Buyer may cancel this Agreement before the expiration of the Review Period for any reason in
      its sole discretion by delivering a cancellation notice to Seller and Closing Agent prior to the expiration of the Review Period. If this Agreement is not cancelled as set forth above, the Earnest Money shall be non-refundable unless Seller shall
      default hereunder, or in the event of a casualty or condemnation, subject to the provisions of Section 16 below.

    

    

    If Buyer cancels this Agreement before the expiration of the Review Period, as permitted under this Section, except
      for any escrow cancellation fees charged by the Title Company and any liabilities under the first paragraph of section 6 of this Agreement and those provisions stating otherwise (which will survive), Seller (after execution of such documents
      reasonably requested by Seller to evidence the termination hereof) shall return to Buyer its Earnest Money and Buyer will have absolutely no rights, claims or interest of any type in connection with the Property or this transaction, regardless of any
      alleged conduct by Buyer, Seller or anyone else.

    

    

    If Buyer fails to close this transaction at no fault of Seller, Buyer will be irrevocably deemed in default of this
      Agreement. Upon default by Buyer, Seller may, as its option, retain the Earnest Money as its sole and exclusive remedy and declare this Agreement null and void, in
      which event Buyer will be deemed to have cancelled this Agreement and relinquish all rights in and to the Property, or Seller may exercise its rights hereunder. The Review Period will be deemed satisfied if Buyer has deposited the Earnest Money as
      required by Section 4 hereof, and this agreement is not cancelled.

    

    

    

    

    

    

    Notwithstanding the foregoing with respect to the Review Period, Buyer shall have forty-five (45) days following
      the Effective Date to secure any necessary financing (the “Financing Contingency Period”. Buyer may cancel this Agreement before the expiration of the

    
      Page 15 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    Financing Contingency Period, in the event of Buyer’s failure to secure necessary financing
      for the contemplated purchase of the Property, by delivering a cancellation notice to Seller and Closing Agent prior to the expiration of the Financing Contingency Period. If this Agreement is not cancelled as set forth herein, the Earnest Money
      shall be non-refundable unless Seller shall default hereunder, or in the event of a casualty or condemnation, subject to the provisions of Section 16.

    

    

    Seller shall endeavor to secure and deliver to Buyer an estoppel certificate from Tenant under the Lease in
      substantially the form of Exhibit C attached hereto (the "Tenant
          Estoppel") with any alterations Tenant may make pursuant to its rights under the Lease. Buyer shall deliver the Tenant Estoppel to Seller within 5 days of the Effective Date of this Agreement. Seller reserves the right to make any
      corrections or changes to the document, which will then be approved by Buyer, before the Tenant Estoppel is sent to Tenant. Seller will deliver the final form of the Tenant Estoppel to Tenant within 7 days after receipt of the final form. Buyer's
      obligation to close the transaction contemplated under this Agreement is subject to the condition that as of Closing: (i) an estoppel certificate for the leased premises shall have been delivered to Buyer disclosing no material default or claim by
      landlord or Tenant; (ii) no material default or claim by landlord or Tenant shall have arisen under the Lease that was not specifically disclosed in writing to the Buyer; and (iii) Tenant shall not have initiated or had initiated against it any
      insolvency, bankruptcy, receivership, or other similar proceeding.   The failure of Seller to obtain and deliver the Tenant Estoppel shall constitute a failure of a condition precedent to Buyer’s obligations to close but shall not constitute a
      default under this Agreement.

    

    

    7.   Escrow. Escrow shall be opened upon execution of this Agreement by both parties. A copy of this Agreement will be delivered to the Title Company and will serve as escrow instructions together with the Title Company’s standard
      instructions, any additional instructions required by Seller and/or Buyer or their respective counsels, and any additional instructions required by the Title Company to clarify its rights and duties. The parties agree to sign these additional
      instructions. If there is any conflict between these other instructions and this Agreement, this Agreement shall control.

    

    

    8.   Title. Seller, at its sole expense, within three (3) business days of the Effective Date, shall order an updated title insurance commitment, along with underlying documents to include any easement or declarations/CAM affecting
      the Property, for an ALTA Owner’s Title Insurance Policy (collectively, the “Title Commitment”). Closing will be conditioned on the agreement of the Title Company to issue an
      Owner’s Title Insurance Policy, dated as of the Closing Date, in an amount equal to the Purchase Price, insuring that Buyer will own insurable fee simple title to the Property subject only to: the Title Company’s standard exceptions; current real
      property taxes and assessments; the rights of parties in possession pursuant to the Lease; the Permitted Exceptions, as defined herein. Buyer shall, at its sole expense, order and obtain an updated survey of the Property within one (1) business day
      following the Effective Date of this Agreement (the “Survey”). Seller shall have no obligation to execute any “no change” or equivalent
      affidavit with respect to the existing survey of the real property, nor shall Seller have any obligation to make any representations or warranties regarding such survey or any measurements or depictions thereon.

    
      Page 16 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    Buyer shall be allowed ten (10) days after receipt of the Title Commitment for examination and
      the making of any title objections thereto (the “Title Objections”), said Title Objections to be made in writing or deemed waived (such
      written notice of Buyer’s Title Objections to be hereinafter referred to as the “Notice of Objections”). Except as set forth below, any
      title exception disclosed by the Title Commitment or Buyer’s survey and not listed in such Notice of Objections shall be deemed a “Permitted Title
          Exception” under this Agreement.

    

    

    If Seller shall fail to cure (or commence to cure) or eliminate all the Title Objections listed
      in the Notice of Defect within fifteen (15) business days after receipt of the Notice of Objections (the “Title Cure Period”), then Buyer
      may elect either to: (a) accept the Property subject to the title exception(s) not cured (in which case such title exception(s) shall become a Permitted Title Exception(s) hereunder), or (b) terminate this Agreement.

    

    

    In the event that Seller agrees to cure a Title Objection and commences such cure, but the same cannot be cured
      within the Title Cure Period, the Buyer may, by written notice to Seller, preserve such Title Objection such that the cure of such Title Objection shall be a condition precedent to Buyer’s obligation to close. Buyer shall elect to either accept the
      Property subject to the Permitted Exceptions or terminate the Agreement by written notice to Seller delivered within three (3) business days following the end of the Title Cure Period, and the failure to deliver such election notice shall constitute
      an election to proceed under clause (a) above. Any mortgage, security deed, lien, lis pendens, judgment, or other claim in a liquidated amount incurred by Seller during Seller’s ownership of the Property and which constitutes an exception to the
      title to the Property shall not in any event be a Permitted Title Exception hereunder, but such claim shall be paid or satisfied out of the sums payable by Buyer at Closing, and the proceeds of sale payable to Seller shall be reduced accordingly;
      provided that such claim must have arisen directly from the acts or omissions of Seller, and not those of the Tenant.

    

    

    At any time after the Effective Date of this Agreement and prior to Closing, Buyer shall have the right to notify
      Seller of any additional title exception which first appears of record after the effective date of the Title Commitment, or otherwise becomes known to Buyer, including by receipt and examination of the Survey. Buyer shall be allowed three (3)
      business days after notice of such additional title exception for examination and the making of any new Title Objections thereto by written notice to Seller (“Notice of New Objections”). Except as set forth herein, any title exception disclosed to Buyer and not listed in such Notice of New Objections shall be deemed a Permitted Title Exception. If Seller shall fail to cure (or
      commence to cure) or eliminate all the new Title Objections listed in the Notice of New Objections within ten (10) business days after receipt of the Notice of New Objections (the “Second Title Cure Period”), then Buyer may elect either to: (a) accept the Property subject to the new title exception(s) not cured (in which case such new title exception(s) shall become a Permitted Title
      Exception(s) hereunder), or (b) terminate this Agreement.

    

    

    Although Seller is not obliged to deliver a new survey or pay for extended coverage, Seller agrees to execute
      customary Title Company-required documents, which Seller finds acceptable upon review, necessary for the Title Company to remove non-survey related standard exceptions and to insure the gap period from the date of the Title Commitment until the date
      of recording of the deed.

    
      Page 17 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    

    

    9.   Closing Costs. Seller shall pay the Standard Owner’s Title Insurance Policy premium in the full amount of the Purchase Price along with any title search and exam fees. Seller shall pay all transfer taxes
      (state, county, and municipal, as applicable). Seller shall pay any and all brokerage commissions to Matthews Retail Group, Inc., d/b/a Matthews Real Estate Investment Services per separate agreement. Except as set forth above, both parties represent
      to the other that they have not been represented by a broker, and agree to hold the other harmless from any claim of brokerage commission by, through, or as a result of representation of the other party.

    

    

    Buyer shall pay the full cost of any endorsements to the Owner’s Title Insurance Policy and the full cost of any
      extended coverage as Buyer may require for such policy. Buyer will pay any and all recording fees. Buyer will pay the cost of updating any due diligence provided by Seller, including the cost of an updated survey to be ordered by Buyer as set forth
      in Section 8 above. Buyer and Seller will split all escrow and closing fees equally. Each party will pay its own attorney’s fees and costs to document and close this transaction.

    

    

    10. Real Estate Taxes, Special Assessments and Prorations.  The responsibility for all real property taxes for the current tax period and all expenses (including but not limited to common area maintenance expenses and fees), if
      any, that are the responsibility of Seller, shall be prorated between Buyer and Seller as of the Closing Date.

    

    

    All income and all operating expenses from the Property, if any, shall be prorated between the parties and adjusted
      by them as of the Closing Date. Seller shall be entitled to all income earned, and shall be responsible for all expenses incurred, prior to the Closing Date. Buyer shall be entitled to all income earned, and shall be responsible for all operating
      expenses of the Property incurred, on and after the Closing Date.

    

    

    11.  S ell er’s  Rep r esen tation s  an d Agreem en ts  .

    

    

    a) Seller represents and warrants as of this date that:

    

    

    i.   Seller has been duly organized, is validly existing, and is in good standing as a
      Minnesota limited partnership. Seller is in good standing and is qualified to do business in the state where the Real Property is located. Seller has the full right and authority and has obtained any and all consents required to enter into this
      Agreement and to consummate or cause to be consummated the transactions contemplated hereby. This Agreement has been, and all of the documents to be delivered by Seller at the Closing will be, authorized and properly executed and constitutes, or will
      constitute, as appropriate, the valid and binding obligation of Seller, enforceable in accordance with their terms.

    

    

    ii.   The documents constituting the Seller Materials that are delivered to Buyer pursuant to
      Paragraph 6 are true, correct, and complete copies of the such materials.

    
      Page 18 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    iii. Except for the existing Lease with the existing Tenant, Seller has
      not entered into any other leases of the Property. Seller has not received any notice from the Tenant asserting the existence of a default on the part of the landlord under the Lease, and Seller is not aware of any default on the part of Tenant or
      other event that with the passage of time or giving of notice (or both) would constitute a default by Tenant.

    

    

    iv.  Except as previously disclosed to Buyer and as permitted in paragraph (b) below,
      Seller is not aware of any contracts Seller has executed that would be binding on Buyer after the Closing Date.

    

    

    v. Seller has not received notice of any pending litigation or condemnation proceedings
      against the Property or Seller’s interest in the Property, nor is Seller aware that such proceedings are threatened or contemplated. There is no agreement to which Seller is a party or, to Seller's knowledge, binding on Seller which is in conflict
      with this Agreement.

    

    

    vi.   Except as expressed in the Phase I Environmental Assessment report delivered to Buyer,
      Seller has no actual knowledge of any violation of Environmental Laws related to the Property or the presence or release of Hazardous Materials on or from the Property. Seller has no actual knowledge of any underground storage tanks located on the
      Property. Seller has not manufactured, introduced, released, or discharged from or onto the Property any Hazardous Materials or any toxic wastes, substances, or materials (including, without limitation, asbestos).   The term "Environmental Laws"
      includes without limitation the Resource Conservation and Recovery Act, the Comprehensive Environmental Response Compensation and Liability Act, and other federal laws governing the environment as in effect on the Date of this Agreement together with
      their implementing regulations and guidelines as of the Date of this Agreement, and all state, regional, county, municipal, and other local laws, regulations, and ordinances that are equivalent or similar to the federal laws recited above or that
      purport to regulate Hazardous Materials.  The term "Hazardous Materials" includes petroleum, including crude oil or any fraction thereof, natural gas, natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel (or mixtures of
      natural gas or such synthetic gas), asbestos, and asbestos containing materials, and any substance, material waste, pollutant, or contaminant listed or defined as hazardous or toxic under any Environmental Law.

    

    

    vii.   The Property is an independent unit which does not currently rely on any facilities
      (other than facilities covered by Permitted Exceptions or facilities of municipalities or public utilities) located on any property that is not part of the Property to fulfill any municipal or other governmental requirement, or for the furnishing to
      the Property of any essential building systems or utilities (including drainage facilities, catch basins, and retention ponds).   No other building or other property that is not part of the Property relies upon any part of the Property to fulfill any
      municipal or other governmental requirement, or to

    
      Page 19 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    provide any essential building systems or utilities (other than facilities covered by Permitted
      Exceptions or facilities of municipalities or public utilities).

    

    

    viii.   Neither Seller nor any of its affiliates, nor any of their respective partners,
      members, shareholders or other equity owners, and none of their respective employees, officers, directors, representatives or agents is, nor will they become, a person or entity with whom U.S. persons or entities are restricted from doing business
      under regulations of the Office of Foreign Assets Control ("OFAC") of the Department  of the Treasury (including  those  named on OFAC's Specially Designated Nationals and Blocked Persons List) or under any statute, 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 other governmental action and is not and will not engage in any dealings or transactions or be
      otherwise associated with such persons or entities.

    

    

    ix.   Seller is not transferring any employees to Buyer in this transaction.

    

    

    b) Provided that Buyer performs its obligations as required, Seller agrees that it will not
      enter into any new contracts that would materially affect the Property and be binding on Seller after the Closing Date without Buyer’s prior consent, which will not be unreasonably withheld or delayed.

    

    

    12. Disclosures.

    

    

    a) As of the Effective Date hereof, Seller has not received any notice of
      any material, physical, or mechanical defects of the Property, including without limitation, the plumbing, heating, air conditioning, and ventilating, electrical system. To the best of Seller’s knowledge without inquiry, all such items are in good
      operating condition and repair and in compliance with all applicable governmental, zoning, and land use laws, ordinances, regulations and requirements. If Seller shall receive any notice to the contrary prior to the Closing Date, Seller will inform
      Buyer prior to the Closing Date, and Buyer may terminate this Agreement and the Earnest Money will be returned.

    

    

    b) As of the Effective Date hereof, Seller has not received any notice that the use and
      operation of the Property is not in full compliance with applicable building codes, safety, fire, zoning, and land use laws, and other applicable local, state and federal laws, ordinances, regulations and requirements. If Seller shall receive any
      such notice prior to the Closing Date, Seller will inform Buyer prior to the Closing Date, and Buyer may terminate this Agreement and the Earnest Money will be returned.

    

    

    c) As of the Effective Date hereof, Seller has not received any notice that the Property is in
      violation of any federal, state or local law, ordinance, or regulations relating to industrial hygiene or the environmental conditions on, under, or about the Property, including, but not limited to, soil, and groundwater conditions, and Seller has not used the Property or any part thereof for the generation, treatment, storage, handling, or disposal of any Hazardous Materials, in violation of any
        Environmental Laws. To the best of Seller’s

    
      Page 20 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    knowledge, there is no proceeding or inquiry by any governmental authority with respect to the
      presence of Hazardous Materials on the Property or the migration of Hazardous Materials from or to other property. Buyer agrees that Seller will have no liability of any type to Buyer or Buyer’s successors, assigns, or affiliates in connection with
      any Hazardous Materials on or in connection with the Property either before or after the Closing Date, except such Hazardous Materials on or in connection with the Property arising out of Seller’s gross negligence or intentional misconduct. If Seller
      shall receive any notice to the contrary prior to the Closing Date, Seller will inform Buyer prior to the Closing Date, and Buyer may terminate this Agreement and the Earnest Money will be returned.

    

    

    d) Buyer agrees that it is purchasing the Property in its present condition, “as is, where is,”
      and Seller has no obligations to construct or repair any improvements thereon or to perform any other act regarding the Property, except as expressly provided herein.

    

    

    e) Buyer acknowledges that, having been given the opportunity to inspect the Property, Buyer is
      relying solely on its own investigation of the Property and not on any representations or information provided by Seller or to be provided by Seller, except as set forth herein. Buyer further acknowledges that the information provided, or to be
      provided, by Seller with respect to the Property was obtained from a variety of sources and Seller has not (a) made independent investigation or verification of such information, and (b) makes no representations as to the accuracy or completeness of
      such information, except as herein set forth. The sale of the Property as provided for herein is made on an “as-is, where-is” basis and Buyer expressly acknowledges that, in consideration of the agreements of Seller herein, except as otherwise
      specified herein, Seller makes no warranty or representation, express or implied, or arising by operation of law, including, but not limited to, any warranty of condition, habitability, suitability for lease, suitability for commercial purposes,
      merchantability, or fitness for a particular purpose, in respect of the Property. Seller makes no representations of any sort that ownership of the Property will result in a profit to any Buyer.

    

    

    
      
        	

              	f)	
                Buyer acknowledges that Seller cannot, and does not, make any representation as to (a) the success, or lack thereof, of the Property or continuation of the Lease
                  post-Closing, or (b) the appropriateness of purchasing the Property for the Buyer’s individual tax or financial situation or tax or financial objectives. Buyer acknowledges that he or she is relying solely upon his or her own examination
                  of the Property and all facts surrounding the purchase of the Property including the merits and risks involved therein.

              

      

    

    

    

    The Parties agree that the provisions of this Section 12, subsections (a) through (f), shall survive the Closing
      Date.

    

    

    13. Closing.

    

    

    a) Before the Closing Date, Seller will deposit into escrow an executed
      limited warranty deed warranting title against lawful claims by, through, or under a conveyance from

    
      Page 21 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    Seller, but not further or otherwise, conveying insurable title of the Property to Buyer, subject to
      the exceptions provided herein.

    

    

    b) On or before the Closing Date, Buyer will deposit into escrow the balance of the Purchase
      Price when required hereunder and any additional funds required of Buyer (pursuant to this Agreement or any other agreement executed by Buyer) to close escrow. Both parties will deliver to the Title Company any other documents reasonably required by
      the Title Company to close escrow.

    

    

    c) On or before the Closing Date, Seller and Buyer will deliver or cause to be delivered to
      Escrow Agent an  Assignment and Assumption of Leases and Contracts in the form attached hereto as Exhibit D, duly executed and acknowledged by Seller and
      Buyer, assigning all of Seller’s interest in, to, and under the Lease to Buyer.

    

    

    d) If required by the terms of the Lease, on or before the Closing Date, Seller will deposit
      into escrow a notice to Tenant of the sale of the Property to Buyer and of the Assignment and Assumption of Lease, such notice to be delivered by the Title Company to Tenant upon Closing.

    

    

    e) On the Closing Date, if escrow is ready to close, the Title Company will: record the deed
      in the official records of the county where the Property is located; cause the Title Company to commit to issue the title policy; immediately deliver to Seller the portion of the Purchase Price deposited into escrow by cashier’s check or wire
      transfer (less debits and prorations, if any); deliver to Seller and Buyer a signed counterpart of the Title Company’s certified Closing statement and take all other actions necessary to close escrow.

    

    

    14. Defaults.  IN THE EVENT THE SALE OF THE PROPERTY AS CONTEMPLATED HEREUNDER IS NOT CONSUMMATED BY REASON OF A DEFAULT OF BUYER UNDER THIS AGREEMENT, THE EARNEST MONEY (INCLUDING ALL INTEREST EARNED FROM THE INVESTMENT THEREOF)
      SHALL BE PAID TO AND RETAINED BY SELLER AS LIQUIDATED DAMAGES, AS SELLER’S SOLE AND EXCLUSIVE REMEDY UNDER THIS AGREEMENT, AT LAW OR IN EQUITY AS A RESULT OF SUCH DEFAULT. THE PARTIES ACKNOWLEDGE THAT SELLER’S ACTUAL DAMAGES IN THE EVENT THAT THE
      SALE IS NOT CONSUMMATED WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE.  THE PARTIES ACKNOWLEDGE THAT THE EARNEST MONEY HAS BEEN AGREED UPON AFTER NEGOTIATION AS THE PARTIES’ REASONABLE ESTIMATE OF SELLER’S DAMAGES AND AS  SELLER’S SOLE
      AND EXCLUSIVE REMEDY UNDER  THIS AGREEMENT, AT LAW OR IN EQUITY AGAINST BUYER IN THE EVENT THE CLOSING DOES NOT OCCUR BY REASON OF BUYER’S DEFAULT. BUYER AND SELLER ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTOOD THE ABOVE PROVISIONS COVERING
      LIQUIDATED DAMAGES, AND THAT EACH PARTY WAS REPRESENTED BY COUNSEL OR HAD THE OPPORTUNITY TO SEEK COUNSEL TO UNDERSTAND THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION AT THE TIME THIS AGREEMENT WAS EXECUTED.

    
      Page 22 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    

    

    IF SELLER SHALL DEFAULT HEREUNDER, THEN BUYER MAY TERMINATE THIS AGREEMENT, WHEREUPON THE
      ENTIRE EARNEST MONEY SHALL BE RETURNED TO BUYER (TOGETHER WITH ALL INTEREST, IF ANY, EARNED THEREON) OR BUYER MAY INSTITUE AN ACTION FOR SEPCIFIC PERFORMANCE, BUYER WAIVING ALL OTHER RIGHTS OR REMEDIES IN THE EVENT OF A DEFAULT BY SELLER

    

    

    15.  Buyer’s Representations and Warranties  .

    

    

    a) Buyer represents and warrants to Seller as follows:

    

    

    i. In addition to the acts and deeds recited herein and contemplated to be performed,
      executed, and delivered by Buyer, Buyer shall perform, execute and deliver or cause to be performed, executed, and delivered at the closing or after the Closing Date, any and all further acts, deeds and assurances as Seller or the Title Company may
      require and be reasonable in order to consummate the transactions contemplated herein.

    

    

    ii.   Buyer has all requisite power and authority to consummate the transaction contemplated
      by this Agreement and has by proper proceedings duly authorized the execution and delivery of this Agreement and the consummation of the transaction contemplated hereby.

    

    

    iii. To Buyer’s knowledge, neither the execution and delivery of this Agreement nor the
      consummation of the transaction contemplated hereby will violate or be in conflict with (a) any applicable provisions of law, (b) any order of any court or other agency of government having jurisdiction hereof, or (c) any agreement or instrument to
      which Buyer is a party or by which Buyer is bound.

    

    

    16. Damages, Destruction and Eminent Domain.

    

    

    a) If, prior to the Closing Date, the Property or any part thereof be
      destroyed or further damaged by fire, the elements, or any cause, due to events occurring subsequent to the date of this Agreement to the extent that the cost of repair exceeds $10,000.00, this Agreement shall become null and void, at Buyer’s option
      exercised, if at all, by written notice to Seller within ten (10) days after Buyer has received written notice from Seller of said destruction or damage. Seller, however, shall have the right to adjust or settle any insured loss until (i) all
      contingencies set forth in Paragraph 6 hereof have been satisfied, or waived; and (ii) any ten-day period provided for above in this Subparagraph 16a for Buyer to elect to terminate this Agreement has expired or Buyer has, by written notice to
      Seller, waived Buyer’s right to terminate this Agreement. If Buyer elects to proceed and to consummate the purchase despite said damage or destruction, there shall be no reduction in or abatement of the Purchase Price, Seller shall assign to Buyer
      the Seller’s right, title, and interest in and to all insurance proceeds (pro-rata in relation to the Property) resulting from said damage or destruction to the

    
      Page 23 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    extent that the same are payable with respect to damage to the Property, subject to rights of
      any Tenant of the Property, and Seller shall credit Buyer at Closing for the deductible amount under the Seller’s insurance.

    

    

    b) If the cost of repair is less than $10,000.00, Seller shall credit Buyer for the cost of the
      repairs. Buyer shall then be obligated to otherwise perform hereunder.

    

    

    c) If, prior to the Closing Date, the Property, or any part thereof, is taken by eminent
      domain, this Agreement shall become null and void at Buyer’s option. If Buyer elects to proceed to consummate the purchase despite said taking, there shall be no reduction in, or abatement of, the Purchase Price, and Seller shall assign to Buyer the
      Seller’s right, title, and interest in and to any award made, or to be made, in the condemnation proceeding pro-rata in relation to the Property, subject to rights of any Tenant of the Property.

    

    

    d) In the event that this Agreement is terminated by Buyer pursuant to this Agreement, the
      Earnest Money shall be immediately returned to Buyer after execution by Buyer of such documents reasonably requested by Seller to evidence the termination hereof.

    

    

    17. 1031 Exchange. Buyer hereby acknowledges that Seller desires and intends to structure this transaction as a tax-deferred exchange pursuant to Section 1031 of the Internal Revenue Code, as amended. Accordingly, Buyer agrees that
      Buyer shall, at no additional cost, obligation, or liability to Buyer, cooperate with and assist Seller in perfecting such an exchange, provided that the consummation of the transaction contemplated hereby is not thereby delayed by fault of Seller.

    

    

    Seller is selling the Property for purposes of a tax-deferred exchange, and Seller acknowledges that Buyer has
      made no representations, warranties, or agreements to Seller or Seller’s agents that the transaction contemplated by this Agreement will qualify for such tax treatment, nor has there been any reliance thereon by Seller respecting the legal or tax
      implications of the transaction contemplated hereby. Seller further represents that it has sought and obtained such third-party advice and counsel as it deems necessary regarding the tax implications of this transaction.

    

    

    If Seller wishes to novate/assign the ownership rights and interest of this Purchase Agreement to a third party
      who will act as accommodator to perfect the 1031 exchange by preparing an agreement of exchange of real property, the accommodator will be an independent third party to be chosen by Seller in Seller’s sole discretion, purchasing the Seller’s interest
      in the Property from Seller and selling such ownership interest in the Property to Buyer under the same terms and conditions as documented in this Agreement. No such assignment by Seller with respect to an exchange or otherwise shall serve to
      eliminate or diminish Seller’s personal liability under this Agreement.

    

    

    If Buyer is purchasing the Property in relation to a tax-deferred exchange, Buyer acknowledges that Seller has
      made no representations, warranties, or agreements to Buyer or Buyer’s agents that the transaction contemplated by this Agreement will qualify for such tax treatment, nor

    
      Page 24 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    has there been any reliance thereon by Buyer respecting the legal or tax implications of the
      transaction contemplated hereby. Buyer further represents that it has sought and obtained such third-party advice and counsel as it deems necessary regarding the tax implications of this transaction.

    

    

    18. Cancellation. If any party elects to cancel this Agreement because of any breach by another party or because escrow fails to close by the agreed date, the party electing to cancel shall deliver to escrow agent a notice
      containing the address of the party in breach and stating that this Agreement shall be cancelled unless the breach is cured within three (3) days following the delivery of the notice to the breaching party. Within three (3) days after receipt of such
      notice, the escrow agent shall send it by United States Mail to the party in breach at the address contained in the Notice and no further notice shall be required. If the breach is not cured within three (3) days following the delivery of the notice
      to the breaching party, this Agreement shall be cancelled.

    

    

    19. Counterparts. This Agreement may be executed and delivered in any number of counterparts, each of which, when so executed and delivered, shall be deemed to be an original, and all of which shall constitute one and the same
      instrument.

    

    

    20. Expiration. Buyer is submitting this offer by signing a copy of this Agreement and delivering it to Seller, and Seller has five (5) days from receipt hereof within which to accept this offer. When executed by both parties, this
      Agreement will be a binding agreement for valid and sufficient consideration which will bind and benefit Buyer, Seller, and their respective successors and assigns.

    

    

    21. Choice of Law. This Agreement shall be governed by, and construed in accordance with the laws of the state of Minnesota.

    

    

    22. Notices. All notices from either of the parties hereto to the other shall be in writing and shall be considered to have been duly given or served if sent by first class certified mail, or by a nationally recognized courier
      service guaranteeing overnight delivery to the party at his or its address set forth below, or by email to the respective email address set forth below, or to such other address as such party may hereafter designate by written notice to the other
      party. Refusal, rejection, or return of any notice otherwise properly delivered as set forth herein shall be deemed to constitute delivery of such notice. Notice given in accordance herewith shall be deemed effectively given upon delivery to the
      address of the addressee.

    

    

    

    

    	
            If to Seller:

          	
            AEI Accredited Investor Fund 2002 Limited Partnership

          
	 	
            1300 Wells Fargo Place

          
	 	
            30 East Seventh Street

          
	 	
            St. Paul, MN 55101

          
	 	
            Attn: Kyle Hagen

          
	 	
            Email: khagen@aeifunds.com

          

    

    

    	
            With a copy to:

          	
            AEI Accredited Investor Fund 2002 Limited Partnership

          
	 	
            1300 Wells Fargo Place

          

    

    

    
      Page 25 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    
    	 	
            30 East Seventh Street

          
	 	
            St. Paul, MN 55101

          
	 	
            Attn: Matthew Swartzer

          
	 	
            Email: mswartzer@aeifunds.com

          

    

    

    

    

    	
            If to Buyer:

          	
            DV Wyoming, LLC

          
	 	
            4700 Merilane Ave

          
	 	
            30 East Seventh Street

          
	 	
            Edina, MN 55436

          
	 	
            Phone:

          
	 	
            Email:

          

    

    

    

    

    

    

    	
            With a copy to:

          	 
	 	 
	 	 
	 	 
	 	 
	 	 

    

    

    

    

    

    

    

    

    

    

    23. Miscellaneous.

    

    

    a) This Agreement may be amended only by written agreement signed by both
      Seller and Buyer, and all waivers must be in writing and signed by the waiving party. Time is of the essence. This Agreement will not be construed for or against a party whether or not that party has drafted this Agreement. If there is any action or
      proceeding between the parties relating to this Agreement the prevailing party will be entitled to recover attorney’s fees and costs. This is an integrated agreement containing all agreements of the parties about the Property and the other matters
      described and it supersedes any other agreements or understandings. Exhibits attached to this Agreement are incorporated into this Agreement.

    

    

    b) If this escrow has not closed by the Closing Date through no fault of Seller, Seller may, at
      its election, extend the Closing Date or exercise any remedy available to it by law, including terminating this Agreement.

    

    

    c) Funds to be deposited or paid by Buyer must be good and clear funds in the form of cash,
      cashier’s checks or wire transfers, subject to the Title Company’s requirements.

    

    

    d) Buyer shall have the right to assign this Contract at Closing to any entity or entities
      affiliated with or related to Buyer without the consent of Seller (provided that Buyer shall notify Seller at least five (5) days prior to Closing to allow the parties to modify the Closing documentation accordingly).  Other than the foregoing, Buyer
      shall not be entitled to assign any of its right, title, and interest herein without Seller’s prior consent. Any assignee shall expressly assume all of Buyer’s duties, obligations, and liabilities hereunder, and Buyer shall not be released from any
      of its obligations hereunder.

    

    

    

    

    e) Whenever the last day for the exercise of any right or the discharge of any obligation under
      this Contract shall fall upon a Saturday, Sunday, or any public or legal holiday, the party having such right or obligation shall have until 5:00 p.m. (Central Standard

    
      Page 13 of 22 Fresenius Medical Care - Grove
          City, OH

      
        

    

    

    

    Time) on the next succeeding regular business day to exercise such right or discharge such
      obligation.  Time is of the essence of this Contract.

    

    

    

    

    

    

    [SIGNATURES PAGES FOLLOW]

    
      Page 14 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    

    

    IN WITNESS WHEREOF, the Seller and Buyer have executed this Agreement to be effective as of the Effective Date.

    

    

    SELLER:

    

    

    

    

    AEI INCOME & GROWTH FUND 24,
      LLC

    a Delaware limited liability company

    

    

    

    

    By: AEI Fund Management XXI, Inc. a Minnesota corporation

    Its: Managing Member

    

    

    

    

    By: /s/ Marni Nygard

                Marni Nygard, Chief Investment Officer

    

    

    Date: October 18, 2019

    
      Page 15 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    BUYER:

    

    

    

    

    

    

    DV WYOMING, LLC

    a Minnesota limited liability company

    

    

    

    

    By: /s/ William Scott Stuart

    William Scott Stuart, Jr

    Manager

    

    

    

    

    

    

    Date: October 24, 2019

    
      Page 16 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    Exhibit A

    

    

    

    

    (Legal Description)

    

    

    

    

    

    

    Situated in the State of Ohio, County of Franklin and in the City of Grove City and bounded and described as follows:

    

    

    And known as being Unit 3161 of the BROADWAY PROFESSIONAL VILLAGE CONDOMINIUM, as the same is numbered and delineated upon the recorded
      plat thereof, of record in Condominium Plat Book 161, page 8-11 and Instrument Number 200601250015626, and as amended in that First Amendment to the Broadway Professional Village Condominium, of record in Condominium Plat Book 205, page 89 and
      Instrument Number 200807280114624, Recorder’s office, Franklin County, Ohio , together with undivided interest in Common Elements as set forth in the Declaration and Bylaws thereof in Instrument Number 200601250015624, and as amended in that Frist
      Amendment to Declaration of the Broadway Professional Village Condominium of record in Instrument Number 200807280114623, Recorder’s Office, Franklin County, Ohio.

    

    

    

    

    

    

    
      Page 17 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    Exhibit B

    

    

    (Due Diligence Items)

    

    

    The following Seller’s Materials will be provided by Seller, to the extent such items exist in

    Seller’s possession:

    

    

    a) A copy of Seller’s existing Owner’s Title Policy for the Property, with copies of its
      underlying documents;

    

    

    b) A copy of Seller’s existing as-built ALTA survey of the Property;

    

    

    c) A complete copy of the Lease, and any amendments thereto, including but not limited to
      guaranties, amendments, assignments of lease and/or letter agreements, commencement agreements, memorandum of leases, and project acceptance letter;

    

    

    d) A copy of Seller’s existing Phase I Environmental Site Assessment report;

    

    

    e) A copy of the Tenant’s existing insurance certificate(s) for the Property;

    

    

    f)  A copy of the Certificate of Occupancy from the governing municipality;

    

    

    g) Copies of the existing final building plans and specifications for the improvements; and h) A copy of the most
      recent real estate tax statement for the Property.

    
      Page 18 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    
      

      

      Exhibit C

      

      

      (Form of Tenant Estoppel)

      

      

      ESTOPPEL CERTIFICATE

      

      

      TO:      Buyer

      

      

      

      

      

      

      

      

                          ("Tenant") does hereby certify as follows:

      

      

      1.          The Tenant is the tenant under that certain lease agreement (the "Lease Agreement")

      dated           between              
           as Landlord ("Landlord") and Tenant.

      

      

      2.          The Lease is presently in full force and effect and there are
        no amendments  or modifications to the Lease except for that certain [insert the title of all documents Tenant is to certify are complete and accurate] (collectively, the "Lease").
        There are no understandings, contracts, agreements or commitments of any kind whatsoever with respect to the Lease except as expressly provided in the Lease.

      

      

      3.          The lease term has commenced and full rental is now accruing thereunder. The Lease is

    

    

    

    for   a   total   term   of    

    (          )  years  beginning               
                    ,  and  ending

    
      

      

                        
                            , with                (          )
        options to extend for                            (                  
        ) years each, unless sooner terminated or extended pursuant to the provisions of the Lease.

      

      

      4.          The Tenant has accepted possession of the leased premises under the Lease, and
        except as noted on the Schedule hereto, all improvements required by the Lease to be made by the Landlord have been completed to the satisfaction of the Tenant, and there is no construction completed, ongoing, or planned for which Landlord is
        obligated to reimburse Tenant. The Tenant presently occupies _                                                                              _

    

    

    

    [street address], comprising                        [total square feet] square feet of space, and is paying $_

    [rental

    
      

      

      amount] per  
                     as rental to Landlord under the Lease. Any additional rent payable pursuant to the Lease on account of                                        
                                  , has been paid through                                          [month and year].

      

      

      5.          Landlord is not in any respect in default in the performance of the terms and
        provisions of the Lease, nor to Tenant's knowledge, is there now any fact or condition which, with notice or lapse of time or both, will become such a default. Tenant is not in any respect in default of the Lease (nor is there now any fact or
        condition which, with notice or lapse of time or both, will become such a default).

      

      

      6.          No rent under the Lease has been paid more than thirty (30) days in advance of its
        due date and there are no defenses, offsets, counterclaims or credits against rents or other charges due or to become due under the Lease.

      

      

      7.          Tenant has paid to Landlord $        as a security deposit under the Lease. To Tenant's knowledge, no portion of the security deposit has been applied by Landlord to any obligation under the Lease.

      

      

      8.          Except as stated otherwise herein, Tenant does not have any right to renew or
        extend the term of the Lease, nor does Tenant have any option or preferential right to purchase all or any part of the leased premises or all or any part of the building and premises of which the leased premises are a part, nor any right, title or
        interest with respect to the leased premises other than Tenant’s rights under the Lease.

      

      

      9.          Tenant has not subleased any portion of the leased premises or assigned,
        transferred or hypothecated its interest in the Lease.

    

    
      Page 19 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    The foregoing provisions may be relied on by and shall inure to the benefit
      of the addressees set forth above and their successors, assigns, grantees and mortgagees and shall be binding upon the undersigned and its successors and assigns.

    

    

    DATED:_                                  ,
      201_.

    

    

    [TENANT NAME]

    

    

    

    

    

    

    

    

    By 

    

    

    

    

    

    

    

    

    

    

    (Name)                                                                                                         
      (Title)

    
      Page 20 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    Exhibit D

    

    

    (Form of Assignment)

    

    

    ASSIGNMENT AND ASSUMPTION OF LEASES AND CONTRACT

    

    

    This instrument is executed and delivered as of the        day of                  , 201_ pursuant to that certain Agreement of Purchase and Sale ("Agreement") dated                       , 201_, by and between                                    , a                                         
      ("Seller"), and                                 , a                        
                   ("Buyer"), covering the real property described in Exhibit A attached hereto ("Real Property").

    

    

    1.          Sale of Personality. For good and valuable consideration, Seller hereby sells, transfers, sets over and conveys to Buyer the following:

    

    

    (a)        Intangible
          Personality. All the right, title and interest of Seller in and to any and all of the intangible personal property related to the Real Property, including, without limitation, the plans and specifications and other architectural and
      engineering drawings for the Real Property and improvements located on the Real Property; warranties; contract rights related to the construction, operation, ownership or management of the Real Property (but excluding Seller's obligations under
      contracts except those expressly assumed in this instrument); governmental permits, approvals and licenses to the extent assignable; and telephone exchange numbers (if assignable).

    

    

    2.          Assignment
          of Leases and Contracts. For good and valuable consideration, Seller hereby assigns, transfers, sets over and conveys to Buyer, and Buyer hereby accepts the following:

    

    

    (a)        Leases.
      All of the landlord's right, title and interest in and to the tenant leases ("Leases") covering the Real Property, as set forth on the Rent Roll attached
      hereto as Exhibit B, which Seller certifies is true and correct as of the date indicated thereon, and Buyer hereby assumes all of the landlord's obligations under the Leases arising from and after the Closing Date (as defined in the Agreement) but,
      as to the landlord's obligations with regard to security deposits and other deposits, only to the extent the security deposits and other deposits have been transferred or credited to Buyer and, as to landlord's obligations to construct tenant
      improvements and incur other tenant procurement costs, only to the extent expressly provided in the Agreement;

    

    

    (b)        Service
          Contracts.   The service contracts described in Exhibit C attached hereto (the "Service Contracts"), and Buyer hereby assumes the obligations of Seller under such service contracts arising from and after the Closing Date; and

    

    

    3.          Warranty.  
      Seller hereby represents and warrants to Buyer that it is the owner of the property described above, that such property is free and clear of all liens, charges and encumbrances other than the Permitted Exceptions (as defined in the Agreement), and
      Seller warrants and defends title to the above-described property unto Buyer, its successors and assigns, against any person or entity claiming, or to claim, the same or any part thereof by, through or under Seller, subject only to the Permitted
      Exceptions as defined in the Agreement.

    

    

    IN WITNESS WHEREOF, the undersigned have caused this Assignment of Leases and Contracts to be
      executed as of the date written above.

    

    

    SELLER:

    

    

    

    

    

    

    

    

    By:  Name: 
        Title: 

    
      Page 21 of 22 Fresenius Medical Care - Grove City, OH

      
        

    

    

    

    

    

    BUYER:

    

    

    

    

    

    

    

    

    By:  Name: 
        Title: 

        

  

  Page 22 of 22 Fresenius Medical Care - Grove City, OH

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00302-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00302-of-00352.parquet"}]]