Document:

Contract of Sale

 Exhibit 10.9 

CONTRACT OF SALE 

THIS CONTRACT OF SALE (this “Agreement”) is made and entered into as of the 28th day of July, 2010,
by and between RICHMOND PINOLE POINT INDUSTRIAL, LLC, a Delaware limited liability company (“Pinole”), and FREMONT BAYSIDE INDUSTRIAL, LLC, a Delaware limited liability company (“Fremont”), each having
an address do Sares Regis Group, 18802 Bardeen Avenue, Irvine, California 92612 (individually, a “Seller”, and collectively, the “Sellers”) and lIT ACQUISITIONS LLC, a Delaware limited liability company,
having an address at 518 17th Street,
17th Floor, Denver, Colorado 80202
(“Purchaser”). Reference to the “Applicable Seller” with respect to a particular “Project Asset” (as defined below) shall mean the Seller that owns such Project Asset. 

W I T N E S S E T H: 

 

	 	A.	Sellers are the owners of each of the “Project Assets,” (which, as used herein, means the “Fremont Assets” and the “Pinole Point
Assets” (each as described below). 

  

	 	(i)	Fremont. “Fremont Assets” means collectively, (a) the land described in Exhibit A-1 attached hereto (collectively, the
“Fremont Land”), (b) the buildings, improvements, and structures located upon the Fremont Land (collectively, the “Fremont Improvements”), (c) all other easements and rights appurtenant to the Fremont
Land, together with any and all mineral and mineral rights, oil and gas and oil and gas rights, other hydrocarbon substances and rights, water and water rights, and wells, well rights and well permits pertaining to or benefiting the Fremont Land or
the Fremont Improvements, if any (collectively, the “Fremont Appurtenant Rights”, and together with the Fremont Land and the Fremont Improvements, the “Fremont Real Property”), (d) all right, title and interest
of Fremont in, to and under the “Leases” (as hereinafter defined) of the Fremont Real Property and, to the extent assignable, the “Contracts” (as hereinafter defined) relating to the Fremont Assets, (e) all right, title and
interest of Fremont, if any, in and to the fixtures, equipment and other tangible personal property attached, related or appurtenant to the Fremont Real Property (collectively, the “Fremont Personal Property”) and (f) to the
extent assignable without consent or payment of any kind, all right, title and interest of Fremont in, to and under any governmental permits, licenses and approvals, warranties and guarantees that Fremont has received in connection with any work or
services performed with respect to or equipment installed in, the Fremont Improvements, and all right, title and interest of Fremont to trade names and trademarks used in connection with the ownership, operation, use or occupancy of the Fremont Real
Property (collectively, the “Fremont Intangible Property”, and together with the Fremont Real Property, the applicable Leases, the applicable Contracts, and the Fremont Personal Property, the “Fremont Property”).
The Applicable Seller of the Fremont Property is Fremont. 

	 	(ii)	Pinole Point. “Pinole Point Assets” means collectively, (a) the land described in Exhibit A-2 attached hereto (collectively, the
“Pinole Point Land”), (b) the buildings, improvements, and structures located upon the Pinole Point Land (collectively, the “Pinole Point Improvements”), (c) all other easements and rights appurtenant to
the Pinole Point Land, together with any and all mineral and mineral rights, oil and gas and oil and gas rights, other hydrocarbon substances and rights, water and water rights, and wells, well rights and well permits pertaining to or benefiting the
Pinole Point Land or the Pinole Point Improvements, if any (collectively, the “Pinole Point Appurtenant Rights”, and together with the Pinole Point Land and the Pinole Point Improvements, the “Pinole Point Real
Property”), (d) all right, title and interest of Pinole in, to and under the “Leases” (as hereinafter defined) of the Pinole Point Real Property and, to the extent assignable, the “Contracts” (as hereinafter
defined) relating to the Pinole Point Assets, (e) all right, title and interest of Pinole, if any, in and to the fixtures, equipment and other tangible personal property owned by Pinole and attached, related or appurtenant to the Pinole Point
Real Property (collectively, the “Pinole Point Personal Property”) and (f) to the extent assignable without consent or payment of any kind, all right, title and interest of Pinole in, to and under any governmental permits,
licenses and approvals, warranties and guarantees that Pinole has received in connection with any work or services performed with respect to or equipment installed in, the Pinole Point Improvements, and all right, title and interest of Pinole Point
to trade names and trademarks used in connection with the ownership, operation, use or occupancy of the Pinole Point Real Property (collectively, the “Pinole Point Intangible Property”, and together with the Pinole Point Real
Property, the applicable Leases, the applicable Contracts, and the Pinole Point Personal Property, the “Pinole Point Property”). The Applicable Seller of the Pinole Point Property is Pinole. Reference to the “Applicable Real
Property” with respect to a particular Project Asset shall mean either the Fremont Real Property or the Pinole Point Real Property, as applicable, and any reference to the “Applicable Improvements” shall mean either the Fremont
Improvements or the Pinole Point Improvements, as applicable. 

  

	 	B.	Purchaser acknowledges that, except as expressly set forth in this Agreement or in any other documents or instruments delivered in connection herewith, the Project
Assets are being sold on an “AS IS”, “WHERE IS”, and “WITH ALL FAULTS” basis on the terms and conditions hereinafter set forth. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree as follows: 
 1. Purchase and Sale. Upon the terms and conditions hereinafter set forth, Sellers shall sell
to Purchaser, and Purchaser shall purchase from Sellers, the Project Assets. 
  

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 2. Certain Defined Terms. 

2.1 “Additional Deposit” shall mean the sum of Three Hundred Thousand Dollars ($300,000), together with all interest
thereon. 
 2.2 “Due Diligence Period” shall mean the period commencing upon the date hereof and continuing
through and including 5:00 p.m. (Pacific time) on August 20, 2010. 
 2.3 “Initial Deposit” shall mean the
sum of Three Hundred Thousand Dollars ($300,000), together with all interest thereon. 
 2.4 “Purchase Price”
shall mean the sum of Sixty Million Dollars ($60,000,000). 
 2.5 “Scheduled Closing Date” shall mean
August 31, 2010. 
 3. Payment of Purchase Price. The Purchase Price shall be paid to Sellers by Purchaser as
follows: 
 3.1 Deposits. 

3.1.1 Initial Deposit. Within one (1) “Business Day” (as hereinafter defined) after the date this Agreement is
executed by Sellers and Purchaser, Purchaser shall deposit with First American Title Insurance Company (in its capacity as escrow agent, “Escrowee”), by wire transfer of immediately available federal funds to an account designated
by Escrowee (the “Escrow Account”), the Initial Deposit, which Initial Deposit shall be held by Escrowee pursuant to the escrow agreement (the “Escrow Agreement”) attached hereto as Exhibit L. If Purchaser
shall fail to deposit the Initial Deposit with Escrowee within one (1) Business Day after the date this Agreement shall be executed and delivered by Sellers and Purchaser, then at Sellers’ election, this Agreement shall be null, void,
ab initio and of no force or effect. 
 3.1.2 Additional Deposit. Not later than the expiration of the Due
Diligence Period, Purchaser shall deposit with Escrowee, by wire transfer of immediately available federal funds to the Escrow Account, the Additional Deposit (which, together with the Initial Deposit, shall be referred to as the
“Deposit”), which Additional Deposit shall be held by Escrowee in accordance with the terms and conditions of the Escrow Agreement. If Purchaser shall fail to timely deposit the Additional Deposit as required herein, then Escrowee
shall promptly return the Initial Deposit to Purchaser, and this Agreement shall be automatically deemed terminated, and Sellers and Purchaser shall be released from further obligation or liability hereunder, except for those obligations and
liabilities which, pursuant to the terms of this Agreement, expressly survive such termination (collectively, the “Surviving Obligations”). 

3.2 Independent Consideration. A portion of the amount deposited by Purchaser pursuant to Section 3.1.1, in the amount of One
Hundred Dollars ($100) (the “Independent Consideration”) shall be earned by Sellers upon execution and delivery of this Agreement by Sellers and Purchaser. The Independent Consideration represents adequate bargained for
consideration for Sellers’ execution and delivery of this Agreement and 
  

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Purchaser’s right to have inspected the Project Assets pursuant to the terms hereof. The Independent Consideration is in addition to and independent of any other consideration or payment
provided for herein and is nonrefundable in all events. The Independent Consideration shall be released to Sellers three (3) Business Days after the mutual execution and delivery of this Agreement. If the “Closing” (as hereinafter
defined) occurs, then Purchaser shall receive a credit at Closing in the amount of the Independent Consideration. 
 3.3
Closing Payment. The Purchase Price, as adjusted by the application of the Deposit and by the prorations and credits specified herein, shall be paid by Purchaser, by wire transfer of immediately available federal funds to the Escrow Account
on the “Closing Date” (as hereinafter defined) (the amount being paid under this Section 3.3 being herein called the “Closing Payment”). 

3.4 Allocation of Purchase Price. The Purchase Price shall be allocated between each of the Project Assets as set forth below.
Within ten (10) days after the mutual execution and delivery of this Agreement, Sellers shall prepare an allocation among the real property, tangible personal property and intangible property related to each Project Asset, which allocation
shall be based on Sellers’ good faith determination of the proper value ascribed to each Project Asset and the property associated therewith, which allocation shall be subject to Purchaser’s consent, not to be unreasonably withheld or
delayed. 
  

	 	•	 	 Fremont Assets:         $22,750,000. 

 

	 	•	 	 Pinole Point Assets:   $37,250,000. 

4. Title Matters; Due Diligence Review; Estoppel Certificates; Conditions Precedent. 

4.1 Title Matters. 

4.1.1 Title to the Project Assets. 

(a) As a condition to the Closing, First American Title Insurance Company (in its capacity as title insurer, the “Title
Company”) shall have committed to insure Purchaser as the fee owner of the Applicable Real Property in the allocated amount of the Purchase Price to the Applicable Real Property associated with each Project Asset by issuance of a CLTA Form
2006 extended coverage owner’s title insurance policy (the “Owner’s Policy”), with an effective date not earlier than the Closing Date, and in the standard form issued by the Title Company in the State of California,
subject only to the “Permitted Exceptions” (as hereinafter defined). It is understood that Purchaser may request a number of endorsements to the Owner’s Policies. Purchaser shall satisfy itself prior to the expiration of the Due
Diligence Period that the Title Company will be willing to issue such endorsements at Closing, however, the issuance of such endorsements shall not be a condition to Closing for Purchaser’s benefit. Sellers shall execute the Title
Company’s so-called customary “Owner’s Affidavit” in connection with the issuance of the Owner’s Policies and Purchaser’s requested endorsements. 

(b) With respect to each Project Asset, the Applicable Seller has delivered to Purchaser (i) a copy of a preliminary title report
for an owner’s fee title 
  

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insurance policy or policies with respect to the Applicable Real Property associated therewith, together with legible copies of each of the title exceptions noted therein (collectively, the
“Title Commitments”) from the Title Company and (ii) a survey of the Applicable Real Property associated therewith (collectively, the “Surveys”). If any exceptions(s) to title to the Applicable Real Property
should appear in the Title Commitments or the Surveys other than the “Permitted Exceptions” (as hereinafter defined) (such exception(s) being herein called, collectively, the “Unpermitted Exceptions”), subject to which
Purchaser is unwilling to accept title, and Purchaser shall provide Sellers with written notice (the “Title Objection Notice”) thereof within fifteen (15) days after receipt of the Title Commitments and the Surveys (or within
fifteen (15) days after the mutual execution and delivery of this Agreement, whichever is later), Sellers, in their sole and absolute discretion, may undertake to eliminate the same subject to the terms and conditions of this Section 4.1.
Purchaser waives any right Purchaser may have to advance, as objections to title or as grounds for Purchaser’s refusal to close this transaction, any Unpermitted Exception of which Purchaser does not notify Sellers within such fifteen
(15) day period unless (i) such Unpermitted Exception was first raised by the Title Company subsequent to the date of the applicable Title Commitment, and (ii) Purchaser shall notify Sellers of its objection to the same within five
(5) days after the Title Company shall notify Purchaser of such Unpermitted Exception (failure to so notify Sellers shall be deemed to be a waiver by Purchaser of its right to raise such Unpermitted Exception as an objection to title or as a
ground for Purchaser’s refusal to close the transaction contemplated by this Agreement). Notwithstanding anything to the contrary contained in this Agreement, Sellers, in their sole discretion, shall have the right, upon written notice to
Purchaser at least two (2) days prior to the Scheduled Closing Date, to adjourn the Closing for up to thirty (30) days to cure any Unpermitted Exception, provided that Sellers shall notify Purchaser, in writing, within ten (10) days
after receipt by Sellers of the Title Objection Notice, whether or not it will endeavor to eliminate any Unpermitted Exceptions (“Sellers Title Response”) and if Sellers fail to timely deliver Sellers Title Response, then Sellers
shall be deemed to have elected not to cure any of the Unpermitted Exceptions. Notwithstanding the foregoing or anything to the contrary set forth herein, Sellers shall not under any circumstance be required or obligated to cause the cure or removal
of any Unpermitted Exception including to bring any action or proceeding, to make any payments or otherwise to incur any expense in order to eliminate any Unpermitted Exception or to arrange for title insurance insuring against enforcement of such
Unpermitted Exception against, or collection of the same out of, the Project Asset, notwithstanding that Sellers may have attempted to do so, or may have adjourned the Scheduled Closing Date for such purpose; provided, however, Sellers shall satisfy
any mortgage or deed of trust or other monetary liens not created or suffered by Buyer or any “Purchaser Representative” (as hereinafter defined) that encumber the Applicable Real Property that can be satisfied with the payment of
money (such liens, “Monetary Liens”) and if any such Monetary Liens are not so satisfied by Sellers, they shall be paid at the Closing out of the proceeds otherwise payable to Sellers. 

(c) If Sellers are unable, elect not or are deemed to elect not to eliminate all Unpermitted Exceptions in accordance with the
provisions of this Section 4.1 .1, or to arrange for affirmative title insurance or special endorsements insuring against enforcement of such Unpermitted Exceptions against, or collection of the same out of, the Project Asset (without special
premium to Purchaser) (which affirmative title insurance or special endorsements shall be subject to Purchaser’s reasonable approval), and to convey title to the Applicable Real Property in accordance with the terms hereof on or before the
Closing Date (whether or not the Closing is 
  

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adjourned as provided in Section 4.1.1(b)), Sellers shall notify Purchaser that they are electing not to remove the same in Sellers’ Title Response, in which event Purchaser shall have
the right, as its sole remedy for such election of Sellers, by delivery of written notice to Sellers within three (3) Business Days following receipt of notice from Sellers of its election not to remove such Unpermitted Exceptions, to either
(i) terminate this Agreement by written notice delivered to Sellers (in which event Escrowee shall, provided that Purchaser is not otherwise in default of its obligations pursuant to this Agreement, return the Initial Deposit, and the
Additional Deposit, to the extent deposited with Escrowee, to Purchaser and no party hereto shall have any further obligations in connection herewith except for the Surviving Obligations), or (ii) accept title to the Applicable Real Property
subject to such Unpermitted Exception(s) without a reduction in, abatement of, or credit against, the Purchase Price. The failure of Purchaser to deliver timely any written notice of election under this Section 4.1.1(c) shall be conclusively
deemed to be an election under clause (ii) above. 
 (d) If, on the Closing Date, there are any liens or encumbrances that
Sellers are obligated to discharge under this Agreement, then Sellers shall have the right (but not the obligation) to either (i) arrange, at their cost and expense, for affirmative title insurance or special endorsements insuring against
enforcement of such liens or encumbrances against, or collection of the same out of, the Project Assets, without special premium to Purchaser, provided that such affirmative title insurance or special endorsements are reasonably approved by
Purchaser, or (ii) use any portion of the Purchase Price to pay and discharge the same, either by way of payment or by alternative manner reasonably satisfactory to the Title Company and Purchaser, and the same shall not be deemed to be
Unpermitted Exceptions. 
 4.1.2 Permitted Exceptions to Title. The Applicable Real Property shall be sold and conveyed
subject to the following exceptions to title (the “Permitted Exceptions”): 
 (a) any state of facts that an
accurate survey may show; 
 (b) all laws, ordinances, rules and regulations of the United States, the State of California, or
any agency, department, commission, bureau or instrumentality of any of the foregoing having jurisdiction over the Applicable Real Property (each, a “Governmental Authority”), as the same may now exist or may be hereafter modified,
supplemented or promulgated; 
 (c) real estate taxes not yet due and payable; 

(d) any exceptions that Purchaser shall have agreed or be deemed to have agreed to waive as an Unpermitted Exception; 

(e) subject to Section 7.1.1(k), all violations of laws, ordinances, orders, requirements or regulations of any Governmental
Authority applicable to the Applicable Real Property and existing on the Closing Date, whether or not noted in the records of or issued by any Governmental Authority; 

 

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 (f) all utility easements of record which do not interfere with the present use of the
Applicable Real Property and to which Purchaser has not objected as provided in Section 4.1.1(b) above; and 
 (g) the
Amended and Restated Declaration of Covenants, Conditions and Restrictions for the Pinole Point Business Park – Phases I and II, to be recorded against the Pinole Point Real Property in substantially the form provided to Purchaser as part of
its due diligence review. 
 4.2 Due Diligence Reviews. Except for title and survey matters (which shall be governed by
the provisions of Section 4.1 above), Purchaser shall have until the expiration of the Due Diligence Period to perform and complete all of Purchaser’s due diligence examinations, reviews and inspections of all matters pertaining to the
purchase of the Project Assets, including the Leases and the Contracts, and all physical, environmental and compliance matters and conditions respecting the Project Assets (collectively, the “Investigations”), which Investigations
shall at all times be subject to Purchaser’s compliance with the provisions of this Section 4.2. Prior to the execution of this Agreement, Sellers have provided Purchaser with access to its files at the property management offices of the
Project Assets and have provided Purchaser or the Purchaser Representatives with the reports and documents specifically described on Schedule 4.2 attached hereto. During the Due Diligence Period, Sellers shall provide Purchaser with reasonable
access to each Project Asset upon reasonable advance notice and shall also make available to Purchaser, at the offices of the property manager of each Project Asset, (i) copies of all Leases and all amendments, modifications, extensions or
notices related thereto as described on Exhibit I attached hereto, (ii) copies of all Contracts and all amendments, modifications, extensions or notices related thereto as described on Exhibit J attached hereto, and (iii) such other
documents, information and materials as generally listed on Schedule 4.2 attached hereto, to the extent such documents, information and materials are included in the files maintained in the property management offices of the Project Assets;
provided, however, in no event shall Sellers be obligated to make available: (1) any document or correspondence which would be subject to the attorney-client privilege; (2) any document or item which Sellers are contractually or otherwise
bound to keep confidential; (3) any documents pertaining to the marketing of the Project Assets for sale to prospective purchasers; (4) any internal memoranda, reports or assessments relating to the Project Assets (other than memoranda,
reports or assessments prepared by third parties); or (5) appraisals of the Project Assets whether prepared internally by Sellers or their affiliates or externally (collectively, “Confidential Information”). Any entry upon the
Project Assets and all Investigations shall be done in a commercially reasonable manner and in accordance with the provisions of this Agreement, shall be made or performed during normal business hours and at the sole risk and expense of Purchaser,
and shall not unreasonably interfere with the activities on or about the Project Assets, the tenants and their employees and invitees. 

In no event shall Purchaser or Purchaser’s Representatives, without the prior written consent of Sellers: (x) make any
intrusive physical or air testing (environmental, structural or otherwise) at the Project Assets (such as soil borings, indoor air samples, water samplings or the like) and/or (y) contact any tenant of the Project Assets, except for tenant
interviews; provided, however, that Purchaser shall notify Sellers of those tenants which Purchaser desires to interview, Sellers or their agent(s) shall schedule such tenant interviews, and 

 

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Sellers or their agent(s) shall have the right to be present at the tenant interview (Purchaser acknowledges that Purchaser shall have no right to directly notify any tenant of an interview
request, and that such interview requests shall be directed to Sellers, who shall, or shall direct its agent(s) to, schedule such tenant interviews). 

Without limitation on the foregoing, in connection with any testing or Investigations permitted hereunder or authorized by Sellers,
Purchaser shall: 
 (a) promptly repair any damage to the Project Assets resulting from any such Investigations and replace,
refill and regrade any holes made in, or excavations of, any portion of the Project Assets used for such Investigations so that the Project Assets shall be in substantially the same condition that it existed in prior to such Investigations;
provided, however, that Purchaser shall have no liability for and no obligation to repair any damages to the extent arising from or related to (i) any gross negligence or willful misconduct of Sellers or any tenant occupying space at the
Project Assets, (ii) any diminution in value in the Project Assets arising from, or related to, matters discovered by Purchaser or Purchaser’s Representatives during the Investigations (except to the extent Purchaser or Purchaser’s
Representatives exacerbated such matters), (iii) any latent defects in the Project Assets discovered by Purchaser or Purchaser’s Representatives, and (iv) any “Hazardous Materials” (as hereinafter defined) or regulated
substances which are discovered (but not deposited or spread) in, on, under or about the Project Assets by Purchaser or Purchaser’s Representatives (the “Purchaser Liability Exceptions”). As used herein, “Hazardous
Materials” means any material, waste, chemical, compound, substance, mixture, or byproduct that is identified, defined, designated, listed, restricted or otherwise regulated under environmental laws as a “hazardous constituent,”
“hazardous substance,” “hazardous material,” “extremely hazardous material,” “hazardous waste,” “acutely hazardous waste,” “hazardous waste constituent,” “infectious waste,”
“medical waste,” “biohazardous waste,” “extremely hazardous waste,” pollutant,” “toxic pollutant,” or “contaminant,” or any other formulation intended to classify substances by reason of
properties that are deleterious to the environment, natural resources or public health or safety including, without limitation, ignitability, corrosiveness, reactivity, carcinogenicity, toxicity, and reproductive toxicity. 

(b) fully comply with all laws applicable to the Investigations and all other activities undertaken in connection therewith; 

(c) permit Sellers to have a representative present during all Investigations undertaken hereunder; 

(d) take all actions and implement all protections necessary to ensure that the Investigations and the equipment, materials, and
substances generated, used or brought onto the Project Assets in connection with the Investigations, pose no threat to the safety or health of persons or the environment, and cause no damage to the Project Assets or other property of Sellers or
other persons; 
 (e) if this Agreement terminates prior to Closing (other than due to a Seller default), furnish to Sellers,
at no cost or expense to Sellers, copies of all surveys, soil test results, engineering, asbestos, environmental and other studies and reports (other than 

 

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internal analysis and proprietary information of Purchaser) relating to the Investigations which Purchaser shall obtain with respect to the Project Assets promptly after Purchaser’s receipt
of same, all without representation or warranty; 
 (f) maintain or cause to be maintained, at Purchaser’s expense, a
policy of commercial general liability insurance with coverages of not less than $1,000,000.00 for injury or death to any one person and $2,000,000.00 for injury or death to more than one person and $1,000,000.00 with respect to property damage, and
worker’s compensation insurance for its employees. The requirement to carry the insurance specified in the preceding sentence may be satisfied through Purchaser’s or its affiliates’ blanket or umbrella insurance policies.
Purchaser’s commercial general liability policy shall include Sellers, J.P. Morgan Investment Management Inc., and JPMorgan Chase Bank, N.A., as additional insureds; 

(g) not permit the Investigations or any other activities undertaken by Purchaser or Purchaser’s Representatives to result in any
liens, judgments or other encumbrances being filed or recorded against the Project Assets, and Purchaser shall, at its sole cost and expense, immediately discharge of record any such liens or encumbrances that are so filed or recorded (including,
without limitation, liens for services, labor or materials furnished); and 
 (h) indemnify Sellers and any agent, advisor,
representative, affiliate, employee, director, partner, member, beneficiary, investor, servant, shareholder, trustee or other person or entity acting on their behalf or otherwise related to or affiliated with Sellers (collectively, “Seller
Related Parties”) and hold harmless Sellers and all Seller Related Parties from and against any and all claims, demands, causes of action, losses, damages, liabilities, costs and expenses (including, without limitation, reasonable
attorneys’ fees and disbursements) (collectively, “Claims”), suffered or incurred by Sellers or any Seller Related Party and arising out of or in connection with (i) Purchaser’s and/or Purchaser’s
Representatives’ entry upon the Project Assets, (ii) any Investigations or other testing activities conducted on the Project Assets by Purchaser or Purchaser’s Representatives, (iii) any liens or encumbrances filed or recorded
against the Project Assets as a consequence of the Investigations or (iv) any and all other activities undertaken by Purchaser or Purchaser’s Representatives in connection with the Investigations or with Purchaser’s or
Purchaser’s Representatives entry on the Project Assets. The foregoing indemnity shall not include any Claims to the extent arising from the Purchaser Liability Exceptions. 

The provisions of this Section 4.2 shall survive the Closing or a termination of this Agreement. 

4.2.1 Project Assets Information and Confidentiality. All “Information” (as hereinafter defined) provided to Purchaser
shall be subject to the following terms and conditions: 
 (a) Any information provided or to be provided with respect to the
Project Assets is solely for Purchaser’s and Purchaser Representatives’ convenience and was or will be obtained from a variety of sources. Neither Sellers nor any Seller Related Party has made any independent investigation or verification
of such information and makes no (and 
  

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expressly disclaims all) representations and warranties as to the truth, accuracy or completeness of the Information provided to Purchaser hereunder and expressly disclaims any implied
representations as to any matter disclosed or omitted in the Information. Neither Sellers nor any Seller Related Party shall be liable for any mistakes, omissions, misrepresentations or any failure to investigate the Project Assets nor shall Sellers
or any Seller Related Party be bound in any manner by any verbal or written statements, representations, appraisals, environmental assessment reports, or other information pertaining to the Project Assets or the operation thereof, except as
expressly set forth in this Agreement or in any closing document delivered by Sellers. 
 (b) Prior to the Closing Date, except
as set forth below, neither Purchaser nor Purchaser’s Representatives shall, at any time or in any manner, either directly or indirectly, divulge, disclose or communicate to any person, entity or association the Information, or any other
knowledge or information acquired by Purchaser or Purchaser’s Representatives from Sellers, any Seller Related Party or by Purchaser’s own inspections and investigations, other than matters that were in the public domain at the time of
receipt by Purchaser or Purchaser’s Representatives. Prior to the Closing Date, except as set forth below, without Sellers’ prior written consent, Purchaser shall not disclose and Purchaser shall direct Purchaser’s Representatives not
to disclose to any person, entity or association or any of the terms, conditions or other facts with respect to this Agreement, including, without limitation, the status hereof, and shall not market or offer the Project Assets for sale.
Notwithstanding the foregoing or anything else herein to the contrary, Purchaser may disclose such of the Information and its other reports, studies, documents and other matters generated by it and the terms of this Agreement (i) as required by
law or court order (provided prior written notice of such disclosure shall be provided to Sellers) and (ii) as Purchaser deems necessary or desirable to Purchaser’s Representatives in connection with Purchaser’s Investigation and the
transaction contemplated hereby, provided that those to whom such Information is disclosed are informed of the confidential nature thereof and agree(s) to keep the same confidential in accordance with the terms and conditions hereof. 

(c) Purchaser shall indemnify and hold harmless Sellers and all Seller Related Parties from and against any and all Claims suffered or
incurred by Sellers or any Seller Related Party and arising out of or in connection with a breach by Purchaser or Purchaser’s Representatives of the provisions of this Section 4.2.1. 

(d) Purchaser and Purchaser’s Representatives shall use reasonable care to maintain in good condition all of the Information
furnished or made available to Purchaser and/or Purchaser’s Representatives in accordance with this Section 4.2. If this Agreement is terminated, then Purchaser and Purchaser’s Representatives shall promptly deliver to Sellers all
originals of the Information in the possession of Purchaser and Purchaser’s Representatives and shall destroy any copies in its possession of the same. 

(e) As used in this Agreement, the term “Information” shall mean any of the following: (i) all information and
documents in any way relating to the Project Assets, the operation thereof or the sale thereof, including, without limitation, all leases and contracts furnished to, or otherwise made available for review by, Purchaser or its directors, officers,
employees, affiliates, partners, members, brokers, agents or other representatives, including, without limitation, attorneys, accountants, contractors, consultants, engineers, 

 

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investors, lenders or potential lenders and financial advisors and their affiliates, counsel and agents (collectively, “Purchaser’s Representatives”), by Sellers or any
Seller Related Party or their agents or representatives, including, without limitation, their contractors, engineers, attorneys, accountants, consultants, brokers or advisors, and (ii) all analyses, compilations, data, studies, reports or other
information or documents prepared or obtained by Purchaser or Purchaser’s Representatives containing or based on, in whole or in part, the information or documents described in the preceding clause (i), the Investigations, or otherwise
reflecting their review or investigation of the Project Assets. 
 (f) In addition to any other remedies available to Sellers,
the Sellers shall have the right to seek equitable relief including, without limitation, injunctive relief or specific performance, against Purchaser or Purchaser’s Representatives in order to enforce the provisions of this Section 4.2.1.

 (g) The provisions of this Section 4.2.1 shall survive the Closing or a termination of this Agreement. 

4.2.2 Termination Right. If, on or before the expiration of the Due Diligence Period, based upon the Investigations and/or the
Information, Purchaser shall determine that it no longer intends to acquire the Project Assets for any reason or for no reason at all, then Purchaser shall promptly notify Sellers of such determination in writing on or before the expiration of the
Due Diligence Period (such notice being herein called the “Termination Notice”), whereupon, the Initial Deposit shall be promptly returned to Purchaser, and this Agreement and the obligations of the parties hereunder shall terminate
(and no party hereto shall have any further obligations in connection herewith except for the Surviving Obligations). If Purchaser shall fail to deliver the Termination Notice to Sellers on or before the expiration of the Due Diligence Period, then
Purchaser shall be deemed to have agreed that the foregoing matters are acceptable to Purchaser and that it intends to proceed with the acquisition of the Project Assets without a reduction in, or an abatement of or credit against, the Purchase
Price (and, thereafter, Purchaser shall have no further right to terminate this Agreement pursuant to this Section 4.2.2) and, except as expressly provided otherwise herein, the Deposit shall be nonrefundable to Purchaser. Notwithstanding
anything to the contrary in this Section 4.2, if this Agreement has not been terminated, Purchaser shall continue to have the right to access the Project Assets and to perform Investigations following the expiration of the Due Diligence Period
provided Purchaser complies with the requirements set forth in this Agreement relating thereto. 
 4.3 Estoppel
Certificates. 
 4.3.1 Tenant Estoppel Certificates. Not later than ten (10) days after the mutual execution and
delivery of this Agreement, Sellers shall request estoppel certificates (“Tenant Estoppel Certificates”) from each of the tenants occupying space at each Project Asset. It shall be a condition precedent to Purchaser’s
obligation to purchase the Project Assets that Tenant Estoppel Certificates shall have been received with respect to not less than (i) one hundred percent (100%) of the total net rentable square footage of the Fremont Project Asset and
(ii) eighty percent (80%) of the total net rentable square footage of the Pinole Point Project Asset, in each case covered by the Leases in effect at such Project Asset as of the Closing Date

  

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(collectively, the “Estoppel Threshold”), and that Tenant Estoppel Certificates have been received from the following tenants (the “Required Estoppels”): Super
Micro Computer, Inc. (“Super M”), Alan Ritchey, Inc. (“Alan R”), and Bio-Rad Laboratories, Inc. (collectively, the “Major Tenants”). Sellers shall use commercially reasonable efforts (and, as used
in this Agreement with respect to Sellers’ efforts, commercially reasonable efforts shall not be deemed to include any obligation to institute legal proceedings, deliver notices of default or to expend any monies) to obtain such Tenant Estoppel
Certificates, which certificates shall be (1) substantially in the form attached hereto as Exhibits B-1 through Exhibits B-5 for the following tenants, respectively, each as modified to make the statements contained therein factually correct:
Broadline Medical Inc., International Delicacies, FBA Holdings, Inc., Alan R. and Super M, (2) in the form, if any, prescribed in the applicable Lease or other operative document for any other Tenants, and (3) except for the tenants
included under subparagraph (A) or (B), in the form attached hereto as Exhibit B-6 in the event no form is proscribed in the Lease. All Tenant Estoppel Certificates shall be dated no more than thirty (30) days prior to the Closing
Date. Notwithstanding the foregoing, Sellers may, in compliance with their obligations hereunder, deliver a Tenant Estoppel Certificate in any form which does not materially vary from the representations made in the form of Tenant Estoppel
Certificate in Exhibit B-6 (as modified to make the statement contained therein factually correct). If any Tenant Estoppel Certificate discloses matters which (i) are materially adverse to the purchase of the Project Assets or
(ii) are materially inconsistent with the Leases delivered to, or approved by, Purchaser, and such matters have not been disclosed to Purchaser prior to the expiration of the Due Diligence Period, and, in each case, are not cured or satisfied
by Sellers prior to the Closing (which cure or satisfaction shall be acceptable to Purchaser in Purchaser’s reasonable discretion), then such Tenant Estoppel Certificate shall not count towards the Estoppel Threshold. Prior to delivering the
Tenant Estoppel Certificates to the tenants for execution, Sellers shall prepare and deliver the same to Purchaser for Purchaser’s reasonable approval. If Purchaser fails to notify Sellers in writing of Purchaser’s approval or reasonable
disapproval (with detailed proposed revisions that will be acceptable to Purchaser) of any Tenant Estoppel Certificate submitted by the Applicable Seller within three (3) Business Days after Purchaser’s receipt thereof, then Purchaser
shall be deemed to have approved the applicable Tenant Estoppel Certificates for submittal to the applicable tenant. Once a Tenant Estoppel Certificate has been executed by any tenant, Sellers shall submit such Tenant Estoppel Certificate to
Purchaser for Purchaser’s approval. Tenant Estoppel Certificates received by Purchaser shall be deemed acceptable unless Purchaser objects to such Tenant Estoppel Certificate not later than three (3) Business Days following actual receipt.
The failure of Sellers to satisfy the Estoppel Threshold and/or to deliver the Required Estoppels shall not be a breach or default by Sellers under this Agreement, and shall only be a failure of a condition to closing for Purchaser’s benefit,
in which event Purchaser’s sole recourse hereunder in the event of any such failure shall be, in Purchaser’s sole and absolute discretion, to either (i) waive some or all of the requirements regarding Tenant Estoppel Certificates and
accept the Tenant Estoppel Certificates that have been delivered and proceed to the Closing on the Scheduled Closing Date, or (ii) terminate this Agreement by written notice delivered to Sellers (in which event Escrowee shall return the Initial
Deposit, and the Additional Deposit, to the extent deposited with Escrowee, to Purchaser and no party hereto shall have any further obligations in connection herewith except for the Surviving Obligations). Notwithstanding anything contained in this
Agreement to the contrary, if Sellers are unable to obtain a Tenant Estoppel Certificate from any particular tenant under any Lease other than a Major Tenant, then 

 

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the Applicable Seller shall have the right (but not the obligation) to deliver to Purchaser on the Closing Date a certificate (a “Seller’s Estoppel Certificate”) in the form
attached hereto as Exhibit C, executed by the Applicable Seller, and in such event, the Applicable Seller shall be deemed to have delivered a Tenant Estoppel Certificate with respect to such tenant for purposes of satisfying the condition
under this Section 4.3. Sellers shall not have the right to deliver a Seller’s Estoppel Certificate in lieu of a Tenant Estoppel Certificate for any Major Tenant. The Applicable Seller shall be released from any liability with respect to
such Seller’s Estoppel Certificate upon the sooner to occur of (i) nine (9) months following the Closing Date and (ii) the date of delivery to Purchaser of a Tenant Estoppel Certificate executed by the tenant for which the
Applicable Seller has delivered such Seller’s Estoppel Certificate. Promptly following Purchaser’s request, Sellers shall request Subordination, Non-Disturbance and Attornment Agreements (“SNDA5”) in a form provided by Purchaser
from each of the Tenants occupying space at the Project Assets. Sellers shall have no other obligations with respect to the SNDAs; and the receipt of SNDAs shall not be a condition to Closing for Purchaser’s benefit under this Agreement.

 4.3.2 Closing Date Extension. Sellers, in their sole discretion, shall have the right, upon written notice to
Purchaser at least two (2) days prior to the Scheduled Closing Date, to adjourn the Scheduled Closing Date for up to thirty (30) days to satisfy the Estoppel Threshold, to deliver the Required Estoppels and/or to deliver a Tenant Estoppel
Certificate instead of a Seller’s Estoppel Certificate for any particular tenants. 
 4.4 Conditions Precedent to
Obligations of Purchaser. The obligation of Purchaser to consummate the transactions contemplated by this Agreement shall be subject to the performance and observance, in all material respects, by Sellers of all covenants and agreements of this
Agreement to be performed or observed by Sellers prior to or on the Closing Date and the fulfillment on or before the Closing Date of all other conditions precedent to Closing benefiting Purchaser specifically enumerated in this Agreement, any or
all of which may be waived by Purchaser in its sole discretion. If any of the representations and warranties of Seller are not true and correct in all material respects at the Closing due to a change in the facts or circumstances which do not
otherwise constitute a default of Sellers hereunder, the failure of such condition shall, subject to the terms of Section 7.2.3(b), constitute a failure of a condition to Closing and shall not constitute a default by Sellers hereunder, and
Purchaser’s sole remedy in connection therewith shall be to terminate this Agreement by written notice delivered to Sellers (in which event Escrowee shall return the Deposit to Purchaser and no party hereto shall have any further obligations in
connection herewith except for the Surviving Obligations). 
 4.5 Conditions Precedent to Obligations of Sellers. The
obligation of Sellers to consummate the transactions contemplated by this Agreement shall be subject to the performance and observance, in all material respects, by Purchaser of all covenants and agreements of this Agreement to be performed or
observed by Purchaser prior to or on the Closing Date (provided that Purchaser shall have delivered the full amount of the Closing Payment) and the fulfillment on or before the Closing Date of all other conditions precedent to Closing benefiting
Sellers specifically set forth in this Agreement, any or all of which may be waived by Sellers in their sole discretion. 
  

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 4.6 Termination Right. In any instance where Purchaser has the right to terminate
this Agreement, such right may only be exercised with respect to all of the Project Assets and not with respect to any individual Project Asset, and, accordingly, notwithstanding anything to the contrary contained herein, Purchaser shall have no
right hereunder to elect to terminate this Agreement as to less than all of the Project Assets and any exercise by Purchaser of such a termination right shall in all cases be (or shall be deemed to be) with respect to all of the Project Assets.

 5. Closing. The closing (the “Closing”) of the sale and purchase contemplated herein shall occur at
1:00 p.m. (Pacific Time) on or before the Scheduled Closing Date, as the same may be extended in accordance with this Agreement, TIME BEING OF THE ESSENCE with respect to Purchaser’s obligation to close on such date, at the offices of
Escrowee through an escrow and pursuant to escrow instructions consistent with the terms of this Agreement and otherwise mutually satisfactory to Sellers and Purchaser (the date on which the Closing shall occur being herein referred to as the
“Closing Date”). The Closing shall constitute approval by each party of all matters to which such party has a right of approval and a waiver of all conditions precedent. 

5.1 Seller Deliveries. At the Closing, Sellers shall deliver or cause to be delivered to Escrowee or to Purchaser, unless
otherwise noted to be delivered by Sellers on or prior to Closing, the following items for each Project Asset executed and acknowledged by the Applicable Seller or such other party, as appropriate: 

(a) an original duly executed and acknowledged deed (the “Deed”) in the form attached hereto as Exhibit D;

 (b) an assignment and assumption of leases and contracts (the “Assignment and Assumption of Leases and
Contracts”), in the form attached hereto as Exhibit E; 
 (c) a bill of sale and general assignment(the
“Bill of Sale”), in the form attached hereto as Exhibit F; 
 (d) a certification of non-foreign status
in the form attached hereto as Exhibit G, and any required state certificate that is sufficient to exempt each Seller from any state and local withholding requirements with respect to the transactions contemplated hereby; 

(e) all existing surveys, blueprints, drawings, plans and specifications for, or with respect to, the Project Assets or any part
thereof, to the extent the same are in Sellers’ possession or control; 
 (f) all Pinole Point Personal Property and
Fremont Personal Property, including all keys, pass cards, security codes, computer software and other devices relating to access to the Improvements, to the extent the same are in Sellers’ possession or control; 

(g) originals of all Leases and Contracts that shall remain in effect on the Closing Date, to the extent the same are in Sellers’
possession or control, and if originals are not in Sellers’ possession or control, then copies thereof shall suffice (all items in clauses (e) through (g) may be either delivered at Closing or left at the management office of each Project
Asset, to the extent not previously delivered to Purchaser); 
  

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 (h) Title Company’s so-called customary “Owner’s Affidavit” and such
further instruments as may be reasonably required by Purchaser or the Title Company in order to issue the Owner’s Policy as described in Section 4.1, including as may be required by the Title Company in order to delete all standard
exceptions to the Owner’s Policy, including, without limitation, the exceptions related to the parties in possession and mechanic’s liens; 

(i) notices to each of the tenants under the Leases (“Tenant Notices”) in the form attached hereto as Exhibit H,
advising such tenants of the sale of the Project Asset to Purchaser and directing them to make all payments to Purchaser or its designee, which Tenant Notices Purchaser shall at Purchaser’s sole cost and expense, mail by certified mail return
receipt requested or nationally recognized overnight carrier to each applicable tenant; 
 (j) a duly executed closing
settlement sheet to reflect the credits, prorations and adjustments contemplated by or specifically provided for in this Agreement; and 

(k) evidence reasonably satisfactory to the Title Company respecting the due organization of Sellers and the due authorization and
execution by Sellers of this Agreement and the documents required to be delivered hereunder. 
 5.2 Purchaser Deliveries.
At the Closing, Purchaser shall deliver or cause to be delivered to Escrowee the following items executed and acknowledged by Purchaser, as appropriate: 

(a) payment of the Closing Payment to be made in accordance with Section 3; 

(b) the Assignment and Assumption of Leases and Contracts; 

(c) all applicable transfer tax forms, if any; 

(d) such further instruments as may be reasonably required by Sellers and the Title Company to consummate the transactions hereunder;

 (e) a duly executed closing settlement sheet to reflect the credits, prorations and adjustments contemplated by or
specifically provided for in this Agreement; and 
 (f) evidence reasonably satisfactory to the Title Company respecting the
due organization of Purchaser and the due authorization and execution by Purchaser of this Agreement and the documents required to be delivered hereunder. 

5.3 Closing Costs. Sellers shall pay (a) all state and county documentary, stamp, use, transfer or similar taxes, and fifty
percent (50%) of all city transfer taxes, payable in connection with the transaction contemplated herein, (b) the title insurance premium for a CLTA extended coverage policy with coverage in the amount of the Purchase Price, (c) the
premium for any title insurance endorsements obtained by Sellers to cure any Purchaser Title Objections, and 
  

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(d) fifty percent (5 0%) of the costs of Escrowee. Purchaser shall pay (a) the amount by which the title insurance premium for the Owner’s Policy and all endorsements exceeds the cost
of CLTA extended coverage (excluding any endorsements obtained by Sellers to cure any Purchaser Title Objections), (b) all recording charges payable in connection with the recording of the Deeds, (c) fifty percent (5 0%) of the costs of
Escrowee, (d) fifty percent (5 0%) of all city transfer taxes payable in connection with the transaction contemplated herein, and (e) all fees, costs or expenses in connection with Purchaser’s due diligence reviews hereunder. Any
other closing costs shall be allocated in accordance with local custom. Except as expressly provided in the indemnities and other remedies set forth in this Agreement, Sellers and Purchaser shall pay their respective legal, consulting and other
professional fees and expenses incurred in connection with this Agreement and the transactions contemplated hereby and their respective shares of prorations as hereinafter provided. The provisions of this Section 5.3 shall survive the Closing
or a termination of this Agreement. 
 5.4 Prorations. 

5.4.1 The following provisions shall govern the adjustments and prorations that shall be made at Closing and the allocation of income and
expenses from each Project Asset between the Applicable Seller and Purchaser. The prorations set forth in this Section 5.4 shall be on a Project Asset-by-Project Asset basis between the Applicable Seller and Purchaser and not among, or between,
all Project Assets. Each Seller shall prepare a proration schedule and provide such schedule to Purchaser for review and approval at least five (5) Business Days prior to the Closing. Except as expressly provided in this Section 5.4.1, all
items of operating revenue and operating expenses of each Project Asset, with respect to the period prior to 12:00 a.m. local time (the “Cut-off Time”) at each Project Asset on the Closing Date, shall be for the account of the
Applicable Seller and all items of operating revenue and operating expenses of each Project Asset with respect to the period from and after the Cut-off Time, shall be for the account of Purchaser. Without limitation on the foregoing the following
shall be prorated between Purchaser and the Applicable Seller as of the Cut-off Time: 
 (a) All non-delinquent real estate
taxes, water charges, sewer rents, vault charges and assessments on the Project Asset on the basis of the fiscal year for which assessed. In no event shall the Applicable Seller be charged with or be responsible for any increase in the taxes on the
Project Asset resulting from the sale of the Project Asset or from any improvements made or leases entered into on or after the Closing Date. If any assessments on the Project Asset are payable in installments, then the installment for the current
period shall be prorated (with Purchaser assuming the obligation to pay any installments due after the Closing Date). 
 (b)
Subject to this Section 5.4.1(b), all fixed rent and regularly scheduled items of additional rent under the Leases, and other tenant charges if, as and when received as of the Cut Off Time. Sellers shall deliver or provide a credit in an amount
equal to all prepaid rentals for periods after the Closing Date and all refundable cash security deposits (to the extent the foregoing were made by tenants under the Leases and are not applied or forfeited prior to the Closing Date), including
interest on the deposits if required by law or the applicable Lease, to Purchaser on the Closing Date. Sellers shall also deliver or provide a credit in an amount equal to any amounts owed by Sellers to any tenant pursuant to Leases entered into
prior 
  

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to the date hereof for work which occurred prior to the Closing. Rents which are delinquent as of the Closing Date shall not be prorated on the Closing Date. Purchaser shall include such
delinquencies in accordance with its normal billing procedures and shall use commercially reasonable efforts to pursue the collection thereof in good faith after the Closing Date for a period of six months following the Closing Date (but Purchaser
shall not be required to litigate or declare a default in any Lease). To the extent Purchaser receives rents or other amounts from tenants under the Leases on or after the Closing Date, such payments shall be applied first toward the rents and other
amounts that shall then be due and payable to Purchaser, second to the month in which the Closing occurs, and third to any delinquent rents owed to Sellers, with Sellers’ share thereof being held by Purchaser in trust for Sellers and promptly
delivered to Sellers by Purchaser. Purchaser shall be entitled to deduct its reasonable, third party out-of-pocket costs of collection from any amounts owed to Sellers. During the six month period following Closing, Purchaser may not waive any
delinquent rents owed to Sellers nor modify a Lease so as to reduce or otherwise affect amounts owed to Sellers thereunder for any period in which Sellers are entitled to receive a share of charges or amounts without first obtaining Sellers’
written consent. Sellers reserve the right to pursue any remedy against any tenant owing delinquent rents and any other amounts owed to Sellers (but shall not be entitled to terminate any lease or any tenant’s right to possession), which right
shall include the right to continue or commence legal actions or proceedings against any tenant. Delivery of the Assignment and Assumption of Leases and Contracts shall not constitute a waiver by Sellers of such right, and such right shall survive
the Closing. Purchaser shall reasonably cooperate with Sellers in any collection efforts hereunder (but shall not be required to litigate or declare a default under any Lease). With respect to delinquent rents and any other amounts or other rights
of any kind respecting tenants who are no longer tenants of the Project Assets as of the Closing Date, Sellers shall retain all rights relating thereto. 

(c) Sellers shall, at Purchaser’s sole cost and expense, transfer to Purchaser any security deposits which are held in the form of
letters of credit (the “Letters of Credit”) if the same are transferable by delivery of originals of the same to Escrowee together with an executed original of any prescribed instrument of transfer, transferring the same to
Purchaser, in each case prior to the Closing Date. If any of the Letters of Credit are not transferable, Sellers shall, immediately after the Closing, request the tenants obligated under such Letters of Credit to cause new letters of credit to be
issued in favor of Purchaser in replacement thereof and Purchaser shall use commercially reasonable efforts to pursue such replacement after Closing and Sellers shall take all reasonable action, as directed by Purchaser and at Purchaser’s
expense, in connection with the presentment of such Letters of Credit for payment as permitted under the terms of the applicable Lease, and in consideration of such agreement as aforesaid, Purchaser shall indemnify, defend and hold Sellers harmless
from any Claims arising out of the Letters of Credit after the Closing. The provision of this Section 5.4.1(c) shall survive the Closing. 

(d) Tenants of the Applicable Real Property may be obligated to pay, as additional rent, certain percentage rent, escalations in base
rent and pass throughs of operating and similar expenses pursuant to the terms of the Leases (collectively, “Additional Rents”). As to any Additional Rents that are based on estimates and that are subject to adjustment or
reconciliation pursuant to the Leases after the Closing Date, Sellers shall perform a reconciliation for the portion of calendar year 2010 ending on the Closing Date with respect to 

 

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Additional Rents received for such period from tenants and the underlying operating expenses to which they relate (a “Reconciliation”). Sellers shall provide a copy of the
Reconciliation to Purchaser at least ten (10) days prior to the Closing Date. If, during the period commencing on January 1, 2010 and ending on the Closing Date, Sellers collected estimated Additional Rents in excess of any tenant’s
share of such expenses as shown on the Reconciliation, then Sellers shall credit Purchaser for such excess at Closing and Purchaser shall be responsible for crediting or repaying such amounts to the tenants in accordance with the terms of the
Leases. The parties shall “re-prorate” such Additional Rents (including any portions thereof that may be required to be refunded to tenants) at the time that such estimates are actually adjusted or reconciled pursuant to the terms of the
Leases (taking into account the credit, if any, given at Closing related thereto). Any amounts that may be due Sellers as a result of such re-prorations shall be paid by Purchaser to Sellers within ten (10) Business Days after Purchaser
collects such amounts from the tenants (which Purchaser shall use commercially reasonable efforts to obtain), and any amounts that may be due the tenants from Sellers as a result of such re-prorations shall be paid by Sellers to Purchaser within ten
(10) Business Days after written request therefor is delivered to Sellers by Purchaser (to the extent not previously credited at Closing as provided above). Sellers shall be entitled to collect any Additional Rents directly from the applicable
tenants to the extent relating to its period of ownership, subject to the limitations set forth in subsection (b) above. 

(e) Charges and payments under Contracts or permitted renewals or replacements thereof assigned to Purchaser pursuant to the Assignment
and Assumption of Leases and Contracts and any fees or expenses in connection with any agreements recorded against any Project Asset and which are not eliminated as an Unpermitted Exception pursuant to Section 4.1. 

(f) Any prepaid items, including, without limitation, fees for licenses which are transferred to Purchaser at the Closing and annual
permit and inspection fees. 
 (g) Utilities, including, without limitation, telephone, steam, electricity and gas, on the
basis of the most recently issued bills therefor, subject to adjustment after the Closing when the next bills are available, or if current meter readings are available, on the basis of such readings. 

(h) Deposits with telephone and other utility companies, and any other persons or entities who supply goods or services in connection
with the Project Assets if the same are assigned to Purchaser at the Closing, which shall be credited in their entirety to Sellers. 

5.4.2 Items to be prorated at the Closing shall include the costs and expenses incurred by Sellers in connection with any new Leases or
any extension, renewal or expansion of any existing Leases entered into after the date hereof in accordance with the terms and conditions set forth in Section 7.2.3(a), to be prorated over the term of the Lease or the extension, renewal or
expansion. Such costs and expenses shall be borne entirely by Purchaser unless Seller has received rents under such new Leases or any extension, renewal or expansion, in which event, Purchaser’s share of such costs shall be based on the portion
of the Lease term, or the term of the extension, renewal or expansion, as the case may be, occurring on or after the 

 

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Closing, which amount shall be credited to Seller at Closing, to the extent paid by Seller prior thereto. Without limitation on the foregoing, Purchaser shall be responsible for and expressly
assumes the obligation to pay its share of all brokerage and leasing commissions, tenant improvement costs and other costs and expenses including attorney’s fees for any new leases entered into from and after the date hereof and any extension,
renewal or expansion of any existing Lease exercised or entered into from and after the date hereof, provided in all such instances, the term of such Lease, or extension, renewal or expansion or the regularly scheduled payment of rent commences from
and after the date of this Agreement (collectively, “Purchaser Leasing Costs”). If, at the Closing, Sellers have paid any Purchaser Leasing Costs, then the prorations at the Closing shall include an appropriate credit to the
Sellers. Sellers shall be responsible for all tenant improvement costs, tenant incentives and leasing commissions for all Leases and extension, renewal or expansion of any existing Leases which occurred prior to the date of this Agreement, provided
that Purchaser shall receive a credit at Closing in the amount of $53,830 for costs relating to tenant improvement work associated with the currently vacant space in the Pinole Point Improvements. 

5.4.3 If any of the items described in Section 5.4.1 cannot be apportioned at the Closing because of the
unavailability of information as to the amounts which are to be apportioned or otherwise, or are incorrectly apportioned at Closing or subsequent thereto, such items shall be apportioned or reapportioned, as the case may be, as soon as practicable
after the Closing Date or the date such error is discovered, as applicable; provided that (i) with the exception of any item required to be apportioned pursuant to Section 5.4.1(a), (b) or (g), neither party shall have the right to
request apportionment or reapportionment of any such item at any time following the one hundred eightieth (180th
) day after the closing date and (ii) with respect to the items required to be apportioned pursuant to Section 5.4.1(a), (b) or (g), neither party shall have the right to
request apportionment or reapportionment of any such item at any time following the one (1) year anniversary of the Closing Date. If the Closing shall occur before a real estate tax rate or assessment is fixed for the tax year in which the
Closing occurs, the apportionment of taxes at the Closing shall be upon the basis of the tax rate or assessment for the preceding fiscal year applied to the latest assessed valuation. Promptly after the new tax rate or assessment is fixed, the
apportionment of taxes or assessments shall be recomputed and any discrepancy resulting from such recomputation and any errors or omissions in computing apportionments at Closing shall be promptly corrected and the proper party reimbursed, which
obligations shall survive the Closing. 
 5.4.4 The provisions of this Section 5.4 shall, subject to Section 5.4.3,
survive the Closing. 
 6. Condemnation or Destruction of Project Assets. If after the date hereof but prior to the
Closing Date, either any portion of the Applicable Real Property is taken or threatened to be taken pursuant to eminent domain proceedings or condemnation or any of the Applicable Improvements are damaged or destroyed by fire or other casualty, then
Sellers shall promptly deliver, or cause to be delivered, to Purchaser, notice of any such eminent domain proceedings or casualty. Except as otherwise provided by law, Sellers shall have no obligation to restore, repair or replace any portion of the
Applicable Real Property or any such damage or destruction. The Applicable Seller shall, at the Closing, assign to Purchaser all of the Applicable Seller’s interest in all awards or other proceeds for such taking by eminent domain or
condemnation or the 
  

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proceeds of any insurance collected by the Applicable Seller for such damage or destruction (unless the Applicable Seller shall have repaired such damage or destruction prior to the Closing and
except to the extent any such awards, proceeds or insurance are attributable to lost rents or items applicable to any period prior to the Closing), less the amount of all costs incurred by the Applicable Seller in connection with the repair of such
damage or destruction or collection costs of the Applicable Seller respecting any awards or other proceeds for such taking by eminent domain or condemnation or any uncollected insurance proceeds which the Applicable Seller may be entitled to receive
from such damage or destruction, as applicable. In connection with any assignment of awards, proceeds or insurance hereunder, Sellers shall credit Purchaser with an amount equal to the applicable deductible amount under the Applicable Seller’s
insurance; provided, however, if (i) the amount of the damage or the value of the taking or threatened taking with respect to the Project Assets (in each case as determined by an independent third party contractor or engineer selected by the
Applicable Seller and reasonably approved by Purchaser) shall exceed the sum of Two Million Four Hundred Thousand Dollars ($2,400,000) in the aggregate or (ii) any Major Tenant has the right to terminate its Lease as a result of such casualty
or such a temporary or permanent taking (or threatened taking) under the power or threat of eminent domain (which right has not lapsed or expired in accordance with the terms of the applicable Lease), then Purchaser shall have the right to terminate
this Agreement by notice to Sellers given within ten (10) days after the first written notice from Sellers to Purchaser (x) indicating the estimated amount of the damage or the value of the taking or threatened taking (if such amount is in
excess of Two Million Four Hundred Thousand Dollars ($2,400,000)) or (y) notifying Purchaser that a Major Tenant has the right to terminate its Lease as a result of such casualty, taking or threatened taking. In any instance where this
Agreement is terminated pursuant to this Section 6, the Deposit shall be promptly returned to Purchaser, and this Agreement and the obligations of the parties hereunder shall terminate (and no party hereto shall have any further obligations in
connection herewith except for the Surviving Obligations). The parties hereby waive the provisions of any statute which provides for a different outcome or treatment in the event of a casualty or a condemnation or eminent domain proceeding. The
provisions of this Section 6 shall survive the Closing. 
 7. Representations, Warranties and Covenants. 

7.1 Representations, Warranties and Covenants of Sellers. 

7.1.1 Representations and Warranties of Sellers. Subject to the provisions of this Section 7.1.1, each Applicable Seller
hereby represents to Purchaser either as to itself or as to the applicable Project Asset, as of the date hereof which representations shall be deemed to be remade as of the Closing (subject to Section 4.4. above), that: 

(a) Leases. The Applicable Seller has not entered into any leases, licenses or other occupancy agreements to which the Applicable
Seller is a party or is bound affecting any portion of the applicable Project Assets which will be in force after the Closing, other than the Leases. The Applicable Seller has not granted to any party any option, right of first refusal or other
agreement with respect to the purchase and sale of the Applicable Real Property. As used herein, “Leases” shall mean, collectively, (i) subject to the provisions of Section 7.2.3(b), the leases described on Exhibit
I attached hereto (the “Lease Exhibit”) with respect to the applicable Project Asset, and (ii) the leases entered into after the date hereof in 

 

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accordance with the terms hereof. To the Applicable Seller’s knowledge, (1) the Leases are in full force and effect and (2) there is no monetary default or material non-monetary
default thereunder by the Applicable Seller or any tenant thereunder, and (3) except as set forth in the Lease Exhibit, the Leases have not been amended and there are no security deposits under the Leases, except as set forth in the Lease
Exhibit. Except as set forth in the Lease Exhibit, the Applicable Seller has not received from any tenant any written notice to cancel or terminate any Lease. 

(b) Litigation. There is no pending, or to the best of the Applicable Seller’s knowledge, threatened action, suit,
proceeding or claim before any court, commission, regulatory body, administrative agency or other governmental or quasi governmental body with respect to the applicable Project Asset or against the Applicable Seller with respect to such Project
Asset other than routine personal injury, property damage or worker’s compensation matters which are covered by Sellers’ insurance policy for the Property. 

(c) No Insolvency. No petition in bankruptcy (voluntary or otherwise) attachment, execution proceeding, assignment for the
benefit of creditors or petition seeking reorganization or insolvency or any other action or proceeding under state or federal bankruptcy law is pending against, or, to the Applicable Seller’s knowledge, threatened by or against the Applicable
Seller or any general partner or managing member of the Applicable Seller. 
 (d) Non-Foreign Person/Patriot Act. The
Applicable Seller is not a foreign person, foreign corporation, foreign partnership, foreign trust or foreign estate, as those terms are defined in (a) the Code and the corresponding income tax regulations, and (b) similar provisions of
state law. Purchaser has no duty to collect withholding taxes for the Applicable Seller pursuant to the Foreign Investors Real Property Tax Act of 1980, as amended, or any applicable Law. The Applicable Seller is not a “Prohibited Person”
(as hereinafter defined). To the Applicable Seller’s Knowledge, (i) none of its members is a Prohibited Person, (ii) the assets the Applicable Seller will transfer to Purchaser under this Agreement are not the property of, and are not
beneficially owned, directly or indirectly, by a Prohibited Person, and (iii) the assets that the Applicable Seller will transfer to Purchaser under this Agreement are not the proceeds of specified unlawful activity as defined by 18 U.S.C.
§1956(c)(7). “Prohibited Person” means any of the following: (a) a person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, Executive Order No. 13224 on Terrorist Financing
(effective September 24, 2001) (the “Executive Order”); (b) a person or entity owned or controlled by, or acting for or on behalf of any person or entity that is listed in the Annex to, or is otherwise subject to the
provisions of, the Executive Order; (c) a person or entity that is named as a “specially designated national” or “blocked person” on the most current list published by the U.S. Treasury Department’s Office of Foreign
Assets Control (“OFAC”) at its official website, http://www.treas.gov/offices/enforcement/ofac; (d) a person or entity that is otherwise the target of any economic sanctions program currently administered by OFAC; or (e) a
person or entity that is affiliated with any person or entity identified in clause (a), (b), (c) and/or (d) above. 

(e) Contracts. The Applicable Seller has not entered into any service or equipment leasing contracts relating to the applicable
Project Asset which will be in force after the Closing, other than the Contracts, and to the Applicable Seller’s knowledge, each 

 

 -21- 

 
of the Contracts is in full force and effect and there is no monetary default or material non-monetary default thereunder by the Applicable Seller or any other party thereto. As used herein,
“Contracts” shall mean, collectively, (i) the contracts described on Exhibit J attached hereto with respect to the applicable Project Asset, (ii) service contracts which are cancelable on thirty (30) days
notice or less without premium or penalty, and (iii) service contracts entered into by the Applicable Seller after the date hereof in accordance with the terms hereof. 

(f) Lease Brokerage Agreements; Leasing Commission Agreements. The Applicable Seller has not entered into any lease brokerage
agreements or lease commission agreements other than as described on Exhibit K attached hereto or in the Leases that shall be binding upon Purchaser following Closing. Except in connection with any new leases or modifications to existing
leases entered into after the date hereof and approved by Purchaser, there are no outstanding tenant improvement allowances, moving allowances or other concessions owed to any Tenant that shall be binding upon Purchaser following Closing.

 (g) Due Authority. This Agreement and all agreements, instruments and documents herein provided to be executed or to
be caused to be executed by the Applicable Seller are, or on the Closing Date will be, duly authorized, executed and delivered by and are binding upon the Applicable Seller. The Applicable Seller is a Delaware limited liability company, duly
organized and validly existing and in good standing under the laws of the State of Delaware, and is duly authorized and qualified to do all things required of it under this Agreement. 

(h) No Conflicts. The execution, delivery and performance by the Applicable Seller of this Agreement and the instruments
referenced herein and the transaction contemplated hereby will not conflict with, or result in a breach of, violate any term or provision of, or constitute a default under any articles of formation, bylaws, partnership agreement (oral or written),
operating agreement, indenture, deed of trust, mortgage, contract, agreement, judicial or administrative order, or any law to which the Applicable Seller or any portion of its Project Assets are bound. 

(i) Taxes and Special Assessments. The Applicable Seller has not submitted an application for the creation of any special taxing
district affecting the Applicable Project Assets, or annexation thereby, or inclusion therein. The Applicable Seller has not received written notice that any governmental or quasi-governmental agency or authority has commenced or intends to commence
construction of any special or off-site improvements or has imposed or increased or intends to impose or increase any special or other assessment against the Applicable Project Assets, or any part thereof, including assessments attributable to
revaluations of the Applicable Project Assets. 
 (j) Employees. There are no employees of Sellers employed in
connection with the use, management, maintenance or operation of the Project Assets whose employment will continue after the Closing Date. There is no bargaining unit or union contract relating to any employees of Sellers. 

(k) Compliance. The Applicable Seller has not received any written notice from any Governmental Authority having jurisdiction
over the applicable Project 
  

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Asset which remains uncured (i) as to the violation of any federal, state or local laws, statutes, codes, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations,
permits, licenses, authorizations, directions, zoning ordinances, fire safety laws and regulations, building codes, health code or building pollution laws, or (ii) that there is asbestos or lead located on such Project Asset in violation of any
federal, state or local law or regulation. 
 Notwithstanding and without limiting the foregoing, (i) if any of the
representations or warranties of the Applicable Seller that survive Closing contained in this Agreement or in any document or instrument delivered in connection herewith are materially false or inaccurate, or the Applicable Seller is in material
breach or default of any of its obligations under this Agreement that survive Closing, and Purchaser nonetheless closes the transactions hereunder and purchases the Project Assets, then the Sellers shall have no liability or obligation respecting
such false or inaccurate representations or warranties or other breach or default (and any cause of action resulting therefrom shall terminate upon the Closing) if either (x) on or prior to Closing, Purchaser shall have had actual knowledge of
the false or inaccurate representations or warranties or other breach or default, or (y) the accurate state of facts pertinent to such false or inaccurate representations or warranties or other breach or default was contained in any of the
Information furnished or made available to or otherwise obtained by Purchaser, and (ii) to the extent the copies of the Leases, the Contracts or any other Information furnished or made available to or otherwise obtained by Purchaser prior to
the expiration of the Due Diligence Period contain provisions or information that are inconsistent with the foregoing representations and warranties, Sellers shall have no liability or obligation respecting such inconsistent representations or
warranties (and Purchaser shall have no cause of action or right to terminate this Agreement with respect thereto), and such representations and warranties shall be deemed modified to the extent necessary to eliminate such inconsistency and to
conform such representations and warranties to such Leases, Contracts and other Information. 
 References to the
“knowledge”, “best knowledge” and/or “actual knowledge” of the Applicable Seller or words of similar import shall refer only to the current actual (as opposed to implied or constructive) knowledge
of Peter Rooney and Larry Lukanish (collectively, the “Designated Individual”) and shall not be construed, by imputation or otherwise, to refer to the knowledge of the Applicable Seller or any parent, subsidiary or affiliate of the
Applicable Seller or to any other officer, agent, manager, representative or employee of the Applicable Seller or to impose upon the Designated Individual any duty to investigate the matter to which such actual knowledge, or the absence thereof,
pertains. Sellers represent and warrant to Purchaser that the Designated Individual is in an official position on behalf of the Sellers to have the information or the obligation to investigate and/or obtain such information and/or the responsibility
on behalf of the Sellers for the matters and information which are the subject of the Sellers’ representations and warranties. Notwithstanding anything to the contrary contained in this Agreement, the Designated Individual shall have no
personal liability hereunder. The provisions of this Section 7.1.1 shall survive the Closing for a period of nine (9) months, unless written notice of such claim is delivered to the Applicable Seller by Purchaser with respect hereto within
nine (9) months after Closing, in which case all rights and remedies with respect to the matters which are the subject of such notice shall survive until full and final resolution of the matters identified in the notice and full payment of any
amounts owed by the Applicable Seller as a result thereof. 
  

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 7.1.2 GENERAL DISCLAIMER. EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT OR IN
ANY CLOSING DOCUMENT DELIVERED BY SELLERS, THE SALE OF THE PROJECT ASSETS HEREUNDER IS AND WILL BE MADE ON AN “AS IS”, “WHERE IS,” AND “WITH ALL FAULTS” BASIS, WITHOUT REPRESENTATIONS AND WARRANTIES OF ANY KIND OR
NATURE, EXPRESS, IMPLIED OR OTHERWISE, INCLUDING ANY REPRESENTATION OR WARRANTY CONCERNING TITLE TO THE PROJECT ASSETS, THE PHYSICAL CONDITION OF THE PROJECT ASSETS (INCLUDING THE CONDITION OF THE SOIL, AIR, WATER OR THE IMPROVEMENTS), THE
ENVIRONMENTAL CONDITION OF THE APPLICABLE REAL PROPERTY (INCLUDING THE PRESENCE OR ABSENCE OF HAZARDOUS SUBSTANCES ON OR AFFECTING THE APPLICABLE REAL PROPERTY), THE COMPLIANCE OF THE PROJECT ASSETS WITH APPLICABLE LAWS AND REGULATIONS (INCLUDING
ZONING AND BUILDING CODES OR THE STATUS OF DEVELOPMENT OR USE RIGHTS RESPECTING THE PROJECT ASSETS), THE FINANCIAL CONDITION OF THE PROJECT ASSETS OR ANY OTHER REPRESENTATION OR WARRANTY RESPECTING ANY INCOME, EXPENSES, CHARGES, LIENS OR
ENCUMBRANCES, RIGHTS OR CLAIMS ON, AFFECTING OR PERTAINING TO THE PROJECT ASSETS OR ANY PART THEREOF. PURCHASER ACKNOWLEDGES THAT, DURING THE DUE DILIGENCE PERIOD, PURCHASER WILL EXAMINE, REVIEW AND INSPECT ALL MATTERS WHICH IN PURCHASER’S
JUDGMENT BEAR UPON THE PROJECT ASSETS AND THEIR VALUE AND SUITABILITY FOR PURCHASER’S PURPOSES. PURCHASER IS A SOPHISTICATED PURCHASER WHO IS FAMILIAR WITH THE OWNERSHIP AND OPERATION OF REAL ESTATE PROJECTS SIMILAR TO THE PROJECT ASSETS AND
THAT PURCHASER HAS OR WILL HAVE ADEQUATE OPPORTUNITY TO COMPLETE ALL PHYSICAL AND FINANCIAL EXAMINATIONS (INCLUDING ALL OF THE EXAMINATIONS, REVIEWS AND INVESTIGATIONS REFERRED TO IN SECTION 4) RELATING TO THE ACQUISITION OF THE PROJECT ASSETS
HEREUNDER IT DEEMS NECESSARY, AND WILL ACQUIRE THE SAME SOLELY ON THE BASIS OF AND IN RELIANCE UPON SUCH EXAMINATIONS AND THE TITLE INSURANCE PROTECTION AFFORDED BY THE OWNER’S POLICY FOR EACH OF THE FREMONT REAL PROPERTY AND THE PINOLE POINT
REAL PROPERTY AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY SELLERS (OTHER THAN AS EXPRESSLY PROVIDED HEREIN OR IN ANY CLOSING DOCUMENT DELIVERED BY SELLERS. EXCEPT AS TO MATTERS SPECIFICALLY SET FORTH IN THIS AGREEMENT OR IN ANY CLOSING
DOCUMENT DELIVERED BY SELLERS: (A) PURCHASER WILL ACQUIRE THE PROJECT ASSETS SOLELY ON THE BASIS OF ITS OWN PHYSICAL AND FINANCIAL EXAMINATIONS, REVIEWS AND INSPECTIONS AND THE TITLE INSURANCE PROTECTION AFFORDED BY THE OWNER’S POLICY FOR
EACH APPLICABLE REAL PROPERTY, AND (B) WITHOUT LIMITING THE FOREGOING, PURCHASER WAIVES ANY RIGHT IT OTHERWISE MAY HAVE AT LAW OR IN EQUITY, INCLUDING, WITHOUT LIMITATION, THE RIGHT TO SEEK DAMAGES FROM SELLERS OR SELLERS’ RELATED PARTIES
OR PRIOR OWNERS (AS DEFINED IN SECTION 8.1 BELOW) IN CONNECTION WITH THE ENVIRONMENTAL CONDITION OF THE PROJECT ASSETS, INCLUDING ANY RIGHT OF CONTRIBUTION UNDER THE COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND LIABILITY ACT. THE PROVISIONS
OF THIS SECTION 7.1.2 SHALL SURVIVE THE CLOSING. 
  

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 7.2 Interim Covenants of Sellers. Until the Closing Date or the sooner termination of
this Agreement in accordance with the terms hereof: 
 7.2.1 Each Seller shall maintain the applicable Project Asset in
substantially the same manner as prior hereto pursuant to the Applicable Seller’s normal course of business (such maintenance obligations not including capital expenditures or expenditures not incurred in such normal course of business),
subject to reasonable wear and tear and further subject to destruction by casualty or other events beyond the control of the Applicable Seller. 

7.2.2 Subject to the terms set forth in this Section 7.2.2, the Applicable Seller may cancel, modify, extend, renew or permit the
expiration of contracts or enter into any new service contract without Purchaser’s consent. After the date which is five (5) days prior to the expiration of the Due Diligence Period, the Applicable Seller shall not modify, extend, renew or
cancel (except as a result of a default by the other party thereunder) or enter into any additional service contracts or other similar agreements without the prior consent of Purchaser, which consent shall not be unreasonably withheld or delayed;
provided, however, Purchaser’s consent shall not be required if such contract is entered into in the ordinary course of Sellers’ business and is terminable upon not more than thirty (30) days notice without premium or penalty
(provided that Seller shall promptly disclose any such new contract in writing to Purchaser) Purchaser’s failure to disapprove any request for consent by the Applicable Seller under this Section 7.2.2 within three (3) Business Days
following the Applicable Seller’s request therefor shall be deemed to constitute Purchaser’s consent thereto. 

7.2.3 
 (a)
Subject to the terms set forth in this Section 7.2.3, the Applicable Seller shall have the right to continue to offer the Project Assets for lease in the same manner as prior hereto pursuant to its normal course of business and shall keep
Purchaser reasonably informed as to the status of leasing prior to the Closing Date. Up until the date which is five (5) days prior to the expiration of the Due Diligence Period, the Applicable Seller shall be entitled to enter into any new
leases, or modifications of existing Leases at its sole option, exercisable in the Applicable Seller’s sole and absolute discretion, and shall keep Purchaser reasonably informed of any such lease negotiations and provide copies of same to
Purchaser promptly after the execution thereof. On and after the date which is five (5) days prior to the expiration of the Due Diligence Period, the Applicable Seller shall not enter into any new leases or, unless required by the term of
existing Leases, material modifications of existing Leases, nor apply or refund any security deposits held by Sellers pursuant to any Lease, without the prior written consent of Purchaser, which consent shall not be unreasonably withheld or delayed.
On the date that is five (5) days prior to the expiration of the Due Diligence Period, Seller shall provide Purchaser with an update to the Lease Exhibit reflecting any new Leases entered into by Sellers after the date hereof. Notwithstanding
the foregoing or anything to the contrary set forth in this Agreement, (x) Purchaser’s failure to disapprove any request for consent by the Applicable Seller under this Section 7.2.3 within five (5) days following the Applicable
Seller’s request therefor shall be deemed to constitute Purchaser’s consent thereto, and (y) except as set 
  

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forth in Section 5.4.2, Purchaser shall bear all costs and expenses related to any new leases or modifications of existing Leases or service contracts entered into after the date hereof in
accordance with the provisions of this Section 7.2.3 (including tenant improvement costs and leasing commissions and other costs and expenses including attorney’s fees, but excluding free rent allocable to any period prior to the Closing
Date) and, without limiting the foregoing, the prorations at the Closing shall include an appropriate credit to the Applicable Seller consistent with the foregoing and otherwise in accordance with Section 5.4.2. 

(b) Notwithstanding anything to the contrary contained in this Agreement but subject to Purchaser’s rights under Section 4.3.1
above: (i) neither Seller makes any representations or assumes any responsibility with respect to the continued occupancy of the Project Assets or any part thereof by any tenant, (ii) the removal of a tenant whether by summary proceedings
or otherwise prior to the Closing Date shall not give rise to any claim on the part of Purchaser and (iii) it shall not be grounds for Purchaser’s refusal to close this transaction that any tenant is a holdover tenant or in default under
its Lease on the Closing Date and Purchaser shall accept title subject to such holding over or default without an abatement in or credit against the Purchase Price. 

7.2.4 Sellers shall use commercially reasonable efforts to keep in force and effect with respect to the Project Assets the general
liability and property insurance policies currently carried by the Applicable Seller or polices providing similar coverage through the Closing Date. 

7.2.5 Sellers shall remove the Project Assets from the market for sale, and not solicit, accept, entertain or enter into any
negotiations or agreements with respect to the sale or disposition of any or all of the Project Assets, or any interest therein, or sell, contribute or assign any interest in the Project Assets. 

7.2.6 Sellers shall not remove any material item of personal property from the Project Assets unless the same is obsolete and is
replaced by tangible personal property of equal or greater utility and value. 
 7.2.7 Any property management contracts for
the Project Assets shall be terminated prior to the Closing. 
 7.2.8 Sellers agree to terminate by written notice to the other
party thereto, effective as of the Closing, any of the Contracts that Purchaser, pursuant to written notice to Sellers, requests Sellers to terminate, including those executed pursuant to Section 7.2.3. Sellers shall deliver copies of all
notices of termination given by Sellers hereunder to Purchaser. With respect to any Contracts which Purchaser requires to be terminated and provided Purchaser has delivered written notice to Sellers at least thirty (30) days prior to Closing of
such request, Sellers shall pay all termination costs, liquidated damages, fees and/or expenses related thereto. 
 7.3
Representations, Warranties and Covenants of Purchaser. Purchaser hereby represents and warrants to Sellers that this Agreement and all agreements, instruments and documents herein provided to be executed or caused to be executed by Purchaser
are, or on 
  

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the Closing Date will be, duly authorized, executed and delivered by and are binding upon Purchaser. Purchaser is a limited liability company, duly organized and validly existing and in good
standing under the laws of the State of Delaware and is duly authorized and qualified to do all things required of it under this Agreement. Purchaser is not a debtor in any state or federal insolvency, bankruptcy or receivership proceeding. The
representations and warranties of Purchaser shall survive the Closing. 
 8. Release. 

8.1 RELEASE. EFFECTIVE AS OF THE CLOSING, EXCEPT AS OTHERWISE SET FORTH TN ANY CLOSING DOCUMENT DELIVERED BY SELLERS, PURCHASER
SHALL BE DEEMED TO HAVE FOREVER, ABSOLUTELY, UNCONDITIONALLY AND COMPLETELY RELEASED AND DISCHARGED SELLERS AND ALL SELLER RELATED PARTIES AND THE FOLLOWING PRIOR OWNERS OF THE PROJECT ASSETS: PINOLE POINT PROPERTIES, INC., PPBP #1, LLC, PPBP II,
LLC AND PPBP III, LLC (COLLECTIVELY, “PRIOR OWNERS”) FROM AND AGAINST ANY AND ALL CLAIMS, WHETHER ACCRUED OR UNACCRUED, KNOWN OR UNKNOWN, EXISTING OR CONTINGENT, AND WHETHER SOUNDING IN TORT, INDEMNITY, CONTRACT, EQUITY OR
OTHERWISE, AND SHALL BE DEEMED TO HAVE WAIVED ANY AND ALL SUCH CLAIMS, WHICH PURCHASER OR ANY AGENT, REPRESENTATIVE, AFFILIATE, EMPLOYEE, DIRECTOR, OFFICER, PARTNER, MEMBER, SERVANT, SHAREHOLDER OR OTHER PERSON OR ENTITY ACTING ON PURCHASER’S
BEHALF OR OTHERWISE RELATED TO OR AFFILIATED WITH PURCHASER (EACH, A “PURCHASER RELATED PARTY”) HAS OR MAY HAVE ARISING FROM OR RELATED TO ANY MATTER OR THING RELATED TO OR IN CONNECTION WITH THE PROJECT ASSETS INCLUDING THE
DOCUMENTS AND INFORMATION REFERRED TO HEREIN, THE LEASES AND THE TENANTS THEREUNDER, ANY CONSTRUCTION DEFECTS, ERRORS OR OMISSIONS IN THE DESIGN OR CONSTRUCTION OF ALL OR ANY PORTION OF THE PROJECT ASSETS, HAZARDOUS MATERIALS AT, BENEATH, ON OR
ABOUT THE PROJECT ASSETS, COMPLIANCE OR NON-COMPLIANCE WITH LAWS, AND ANY ENVIRONMENTAL CONDITIONS, AND PURCHASER SHALL NOT LOOK TO SELLERS OR ANY SELLER RELATED PARTIES OR ANY PRIOR OWNERS IN CONNECTION WITH THE FOREGOING FOR ANY REDRESS OR RELIEF.
THIS RELEASE SHALL BE GIVEN FULL FORCE AND EFFECT ACCORDING TO EACH OF ITS EXPRESSED TERMS AND PROVISIONS, INCLUDING THOSE RELATING TO UNKNOWN AND UNSUSPECTED CLAIMS, DAMAGES AND CAUSES OF ACTION, PROVIDED THAT THIS RELEASE SHALL NOT BE APPLICABLE
TO CLAIMS AGAINST SELLERS ARISING OUT OF THE EXPRESS COVENANTS, REPRESENTATIONS, OR WARRANTIES SET FORTH IN THIS AGREEMENT THAT SHALL EXPRESSLY SURVIVE THE CLOSING OR ARISING OUT OF THE COVENANTS, REPRESENTATIONS, WARRANTIES OR INDEMNITIES IN ANY
CLOSING DOCUMENT DELIVERED BY SELLERS. 
 AS PART OF THE PROVISIONS OF THIS SECTION, BUT NOT AS A LIMITATION THEREON, PURCHASER
HEREBY AGREES, REPRESENTS AND WARRANTS THAT THE MATTERS RELEASED HEREIN ARE NOT LIMITED TO MATTERS WHICH ARE KNOWN OR DISCLOSED, AND EXCEPT AS OTHERWISE SET 
  

 -27- 

 
FORTH IN THIS AGREEMENT OR IN ANY CLOSING DOCUMENT DELIVERED BY SELLERS, PURCHASER HEREBY WAIVES ANY AND ALL RIGHTS AND BENEFITS WHICH IT NOW HAS, OR IN THE FUTURE MAY HAVE CONFERRED UPON IT, BY
VIRTUE OF THE PROVISIONS OF FEDERAL, STATE OR LOCAL LAW, RULES OR REGULATIONS, INCLUDING WITHOUT LIMITATION SECTION 1542 OF THE CIVIL CODE OF THE STATE OF CALIFORNIA, WHICH PROVIDES AS FOLLOWS: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE
RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 IN THIS CONNECTION
AND TO THE FULLEST EXTENT PERMITTED BY LAW, PURCHASER HEREBY AGREES, REPRESENTS AND WARRANTS THAT PURCHASER REALIZES AND ACKNOWLEDGES THAT FACTUAL MATTERS NOW UNKNOWN TO PURCHASER MAY HAVE GIVEN OR MAY HEREAFTER GIVE RISE TO CAUSES OF ACTION,
CLAIMS, DEMANDS, DEBTS, CONTROVERSIES, DAMAGES, COSTS, LOSSES AND EXPENSES WHICH ARE PRESENTLY UNKNOWN, UNANTICIPATED AND UNSUSPECTED, AND PURCHASER FURTHER AGREES, REPRESENTS AND WARRANTS THAT THE WAIVERS AND RELEASES HEREIN HAVE BEEN NEGOTIATED
AND AGREED UPON IN LIGHT OF THAT REALIZATION AND THAT PURCHASER NEVERTHELESS HEREBY INTENDS TO RELEASE, DISCHARGE AND ACQUIT SELLERS AND ALL SELLER RELATED PARTIES AND PRIOR OWNERS FROM ANY SUCH UNKNOWN CAUSES OF ACTION, CLAIMS, DEMANDS, DEBTS,
CONTROVERSIES, DAMAGES, COSTS, LOSSES AND EXPENSES WHICH MIGHT IN ANY WAY BE INCLUDED IN THE WAIVERS AND MATTERS RELEASED AS SET FORTH IN THIS PARAGRAPH, EXCEPT AS OTHERWISE SET FORTH IN THIS AGREEMENT OR IN ANY CLOSING DOCUMENT DELIVERED BY SELLERS
THE PROVISIONS OF THIS PARAGRAPH ARE MATERIAL AND INCLUDED AS A MATERIAL PORTION OF THE CONSIDERATION GIVEN TO SELLERS BY PURCHASER IN EXCHANGE FOR THE PERFORMANCE BY SELLERS HEREUNDER. 

 

									
	PURCHASER’S INITIAL:	  	

	 	SELLERS’ INITIAL:	 	

				
		  		 	SELLERS’ INITIAL:	 	

 8.2 Survival. The provisions of this Section 8 shall survive the Closing or
the termination of this Agreement. 
 9. Remedies For Default and Disposition of the Deposit. 

9.1 SELLERS DEFAULT. IF THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT SHALL NOT BE CLOSED BY REASON OF A DEFAULT BY

  

 -28- 

 
SELLERS UNDER THIS AGREEMENT, THEN PURCHASER SHALL HAVE, AS ITS SOLE AND EXCLUSIVE REMEDIES (ALL OTHER RIGHTS AND/OR REMEDIES FOR SELLERS’ FAILURE TO CLOSE, WHETHER AVAILABLE AT LAW OR IN
EQUITY, BEING IRREVOCABLY WAIVED) THE RIGHT TO EITHER (A) TERMINATE THIS AGREEMENT (IN WHICH EVENT THE DEPOSIT SHALL BE RETURNED TO PURCHASER, AND NEITHER PARTY HERETO SHALL HAVE ANY FURTHER OBLIGATION OR LIABILITY TO THE OTHER EXCEPT WITH
RESPECT TO THE SURVIVAL OBLIGATIONS), AND SELLERS SHALL REIMBURSE PURCHASER FOR ALL OF ITS THIRD PARTY OUT-OF-POCKET COSTS INCURRED IN NEGOTIATING THIS AGREEMENT, PERFORMING THE INVESTIGATIONS OF THE PROJECT ASSETS AND ANY OTHER REASONABLE
TRANSACTION COSTS, SUCH AS ATTORNEYS FEES, IN AN AMOUNT NOT TO EXCEED TWO HUNDRED THOUSAND DOLLARS ($200,000) IN THE AGGREGATE (“OUT OF POCKET REIMBURSEMENT”), PURCHASER HEREBY WAIVING ANY OTHER RIGHT OR CLAIM TO DAMAGES FOR A
BREACH BY SELLERS, OR (B) IF SELLERS SHALL WILLFULLY FAIL TO TRANSFER THE PROJECT ASSETS PURSUANT TO AND IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT, SPECIFICALLY ENFORCE THE OBLIGATION OF SELLERS TO TRANSFER THE PROJECT ASSETS (IT BEING
ACKNOWLEDGED THAT PRIOR TO THE CLOSING, THE REMEDY OF SPECIFIC PERFORMANCE SHALL NOT BE APPLICABLE TO ANY OTHER COVENANT OR AGREEMENT OF SELLERS CONTAINED HEREIN); PROVIDED THAT ANY ACTION BY PURCHASER FOR SPECIFIC PERFORMANCE MUST BE FILED, IF AT
ALL, WITHIN NINETY (90) DAYS OF A DEFAULT BY SELLERS, AND THE FAILURE TO FILE WITHIN SUCH PERIOD SHALL CONSTITUTE A WAIVER BY PURCHASER OF SUCH RIGHT AND REMEDY. IF PURCHASER SHALL NOT HAVE FILED AN ACTION FOR SPECIFIC PERFORMANCE WITHIN THE
AFOREMENTIONED TIME PERIOD OR SO NOTIFIED SELLERS OF ITS ELECTION TO TERMINATE THIS AGREEMENT, PURCHASER’S SOLE REMEDY SHALL BE TO TERMINATE THIS AGREEMENT IN ACCORDANCE WITH CLAUSE (A) ABOVE, PROVIDED, HOWEVER, IF PURCHASER IS UNABLE TO
OBTAIN SPECIFIC PERFORMANCE, PURCHASER SHALL BE ENTITLED TO THE RETURN OF THE DEPOSIT AND THE OUT OF POCKET REIMBURSEMENT. NOTHING IN THIS AGREEMENT SHALL BE CONSTRUED TO LIMIT THE RIGHTS OF PURCHASER TO RECEIVE ITS LEGAL COSTS PURSUANT TO SECTION
11.10 OF THIS AGREEMENT. 
 9.2 PURCHASER DEFAULT. IF THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT SHALL NOT BE CLOSED
BY REASON OF PURCHASER’S FAILURE TO CONSUMMATE THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT, THEN THIS AGREEMENT SHALL TERMINATE AND THE RETENTION OF THE DEPOSIT SHALL BE THE SOLE AND EXCLUSIVE REMEDY OF SELLERS UNDER THIS AGREEMENT, SUBJECT
TO THE SURVIVAL OBLIGATIONS; PROVIDED, HOWEVER, NOTHING IN THIS AGREEMENT SHALL BE CONSTRUED TO LIMIT THE RIGHTS OF SELLERS TO DAMAGES UNDER ANY INDEMNITIES GIVEN BY PURCHASER TO SELLERS UNDER THIS AGREEMENT. IN CONNECTION WITH THE FOREGOING, THE
PARTIES RECOGNIZE THAT SELLERS WILL INCUR EXPENSE IN CONNECTION WITH THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT AND THAT THE PROJECT ASSETS WILL BE REMOVED FROM THE MARKET; FURTHER, THAT IT IS EXTREMELY DIFFICULT AND IMPRACTICABLE TO

  

 -29- 

 
ASCERTAIN THE EXTENT OF DETRIMENT TO SELLERS CAUSED BY PURCHASER’S FAILURE TO CONSUMMATE THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT OR THE AMOUNT OF COMPENSATION SELLERS SHOULD RECEIVE
AS A RESULT OF PURCHASER’S BREACH OR DEFAULT. 
 IN PLACING THEIR INITIALS AT THE PLACES PROVIDED, EACH PARTY SPECIFICALLY
CONFIRMS THE ACCURACY OF THE STATEMENTS MADE ABOVE AND THE FACT THAT EACH PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION AT THE TIME THIS AGREEMENT WAS MADE, THE PAYMENT OF SUCH AMOUNT AS
LIQUIDATED DAMAGES IS NOT INTENDED AS A FORFEITURE OR PENALTY WITHIN THE MEANING OF CALIFORNIA CIVIL CODE SECTIONS 3275 OR 3369, BUT IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLERS PURSUANT TO CALIFORNIA CIVIL CODE SECTIONS 1671, 1676 AND
1677. PURCHASER FURTHER SPECIFICALLY ACKNOWLEDGES AND AGREES THAT EXCEPT FOR PURCHASER’S RIGHT TO SPECIFICALLY ENFORCE THIS AGREEMENT PURSUANT TO SECTION 9.1, PURCHASER HEREBY WAIVES ANY RIGHT IT MAY HAVE TO SEEK DECLARATORY AND/OR INJUNCTIVE
RELIEF AND/OR EQUITABLE RELIEF PRIOR TO THE CLOG, OR TO RECORD A NOTICE OF THIS AGREEMENT OR ANY RIGHTS IT MAY HAVE HEREUNDER, OR TO RECORD OR FILE A NOTICE OF PENDENCY OF ANY ACTION OR PROCEEDINGS TO ENFORCE THIS AGREEMENT. 

 

							
	Seller:	 		  	Purchaser:	  	
				
	Initial here:	 	
 

	  	Initial here:	  	
 

				
	Seller:	 		  		  	
				
	Initial here:	 	
 

	  		  	

 9.3 Disposition of Deposit. If the transaction contemplated by this Agreement shall close,
then the Deposit shall be applied as a partial payment of the Purchase Price. 
 10. Intentionally Omitted. 

11. Miscellaneous. 

11.1 Brokers. 

11.1.1 Except as provided in Section 11.1.2 below, Sellers represents and warrants to Purchaser, and Purchaser represents and
warrants to Sellers, that no broker or finder has been engaged by it, respectively, in connection with the sale contemplated under this Agreement. If there is a claim for broker’s or finder’s fee or commissions in connection with the sale
contemplated by this Agreement, then Sellers shall indemnify, defend and hold harmless Purchaser from the same if it shall be based upon any statement or agreement alleged to have 

 

 -30- 

 
been made by Sellers, and Purchaser shall indemnify, defend and hold harmless Sellers from the same if it shall be based upon any statement or agreement alleged to have been made by Purchaser.

 11.1.2 If and only if the sale contemplated hereunder closes, Sellers has agreed to pay a brokerage commission to CB Richard
Ellis, a Delaware corporation (“Broker”) pursuant to a separate written agreement between Sellers and Broker. Section 11.1.1 is not intended to apply to leasing commissions incurred in accordance with this Agreement.

 11.2 Limitation of Liability. 

11.2.1 Notwithstanding anything to the contrary contained in this Agreement or any documents executed in connection herewith, if the
Closing of the transaction contemplated hereunder shall have occurred, (i) the aggregate liability of each Applicable Seller arising pursuant to or in connection with the representations, warranties, indemnifications, covenants or other
obligations (whether express or implied) of such Seller under this Agreement or any document or certificate executed or delivered in connection herewith shall not exceed (i) Seven Hundred Fifty Thousand Dollars ($750,000) with respect to the
Fremont Assets and One Million Dollars ($1,000,000) with respect to the Pinole Point Assets (the “Liability Ceiling”) and (ii) in no event shall either Seller have any liability to Purchaser unless and until the aggregate
liability of such Seller arising pursuant to or in connection with the representations, warranties, indemnifications, covenants or other obligations (whether express or implied) of such Seller under this Agreement or any document or certificate
executed or delivered in connection herewith shall exceed Seventy Five Thousand Dollars ($75,000) (the “Liability Floor”). In no event shall amounts required to be paid by Sellers pursuant to Sections 5.4.3, 6 and 11.1.1 or in
connection with a Seller’s Estoppel Certificate be subject to the Liability Ceiling. If the aggregate liability of any Applicable Seller to Purchaser shall exceed the Liability Floor, then such Seller shall be liable for the entire amount
thereof up to but not exceeding the Liability Ceiling. In no event shall Sellers be liable for any consequential, speculative or punitive damages under this Agreement or the documents to be executed in connection herewith. 

11.2.2 Neither Sellers, nor any Seller Related Party, shall have any personal liability, directly or indirectly, under or in connection
with this Agreement or any agreement made or entered into under or pursuant to the provisions of this Agreement, or any amendment or amendments to any of the foregoing made at any time or times, heretofore or hereafter, and Purchaser and its
successors and assigns and, without limitation, all other persons and entities, shall look solely to Sellers’ assets for the payment of any claim or for any performance, and Purchaser, on behalf of itself and its successors and assigns, hereby
waives any and all such personal liability. Neither Purchaser, nor any agent, advisor, representative, affiliate, employee, director, partner, member, beneficiary, investor, servant, shareholder, trustee or other person or entity acting on their
behalf or otherwise related to or affiliated with Purchaser shall have any personal liability, directly or indirectly, under or in connection with this Agreement or any agreement made or entered into under or pursuant to the provisions of this
Agreement, or any amendment or amendments to any of the foregoing made at any time or times, heretofore or hereafter, and Sellers and its successors and assigns and, without limitation, all other persons and entities, shall look solely to the
Project Assets and any other assets of Purchaser assets for the payment of any claim or for any performance, and Seller, on behalf of itself and its successors and assigns, hereby waives any and all such personal liability. 

 

 -31- 

 11.2.3 The representations, warranties, covenants and obligations of each Seller under this
Agreement and any document executed in connection herewith are several (and not joint and not joint and several) and each Seller is responsible and liable only for its own Project Assets and its own representations, warranties, covenants and
obligations set forth herein and any documents executed in connection herewith. Purchaser shall look solely to the Applicable Seller for any amount due, or obligation owed, hereunder or under the documents executed in connection herewith by such
Applicable Seller. 
 11.3 Exhibits; Entire Agreement; Modification. All exhibits attached and referred to in this
Agreement are hereby incorporated herein as if fully set forth in (and shall be deemed to be a part of) this Agreement. This Agreement and the Limited Access Agreement dated July 6, 2010 contains the entire agreement between the parties
respecting the matters herein set forth and supersedes any and all prior agreements between the parties hereto respecting such matters. This Agreement may not be modified or amended except by written agreement signed by both parties. 

11.4 Time of the Essence; Business Days. Time is of the essence of this Agreement. However, whenever any action must be taken
(including the giving of notice or the delivery of documents) under this Agreement during a certain period of time (or by a particular date) that ends (or occurs) on a non-Business Day, then such period (or date) shall be extended until the next
succeeding Business Day. As used herein, the term “Business Day” shall be deemed to mean any day, other than a Saturday or Sunday, on which commercial banks in the State of New York or in the State of California are not required or
authorized to be closed for business. 
 11.5 Interpretation. Section headings shall not be used in construing this
Agreement. Each party acknowledges that such party and its counsel, after negotiation and consultation, have reviewed and revised this Agreement. As such, the terms of this Agreement shall be fairly construed and the usual rule of construction, to
wit, that ambiguities in this Agreement should be resolved against the drafting party, shall not be employed in the interpretation of this Agreement or any amendments, modifications or exhibits hereto or thereto. Whenever the words
“including”, “include” or “includes” are used in this Agreement, they shall be interpreted in a non-exclusive manner. Except as otherwise indicated, all Exhibit and Section references in this Agreement shall be deemed
to refer to the Exhibits and Sections in this Agreement. 
 11.6 Governing Law. This Agreement shall be construed and
enforced in accordance with the laws of the State of California. 
 11.7 Successors and Assigns. Purchaser may not assign
or transfer its rights or obligations under this Agreement without the prior written consent of Sellers; provided that, in the event of such an assignment or transfer, the transferee shall assume in writing all of the transferor’s obligations
hereunder (but Purchaser or any subsequent transferor shall not be released from its obligations hereunder). Notwithstanding and without limiting the foregoing, no 

 

 -32- 

 
consent given by Sellers to any transfer or assignment of Purchaser’s rights or obligations hereunder shall be deemed to constitute a consent to any other transfer or assignment of
Purchaser’s rights or obligations hereunder and no transfer or assignment in violation of the provisions hereof shall be valid or enforceable. Notwithstanding the foregoing or anything else in this Agreement to the contrary, Purchaser shall be
entitled to assign or transfer its rights or obligations under this Agreement to an affiliate without the prior consent of the Sellers, provided that Purchaser gives Sellers written notice of the assignment at least five (5) days prior to
Closing and provided that Purchaser shall not be released from its obligations hereunder. Sellers shall not assign or transfer its rights or obligations hereunder without the prior written consent of Purchaser. Subject to the foregoing, this
Agreement and the terms and provisions hereof shall inure to the benefit of and be binding upon the successors and assigns of the parties. 

11.8 Notices. All notices, requests or other communications which may be or are required to be given, served or sent by either
party hereto to the other shall be (a) delivered in person or by facsimile transmission, with receipt thereof confirmed by printed facsimile acknowledgment (with a confirmation copy delivered in person or by overnight delivery contemporaneously
therewith), (b) by overnight delivery with any reputable overnight courier service, or (c) by deposit in any post office or mail depository regularly maintained by the United States Postal Office and sent by registered or certified mail,
postage paid, return receipt requested, and shall be effective upon receipt (whether refused or accepted) and, in each case, addressed as follows: 
  

					
		  	To Sellers:	  	
			
		  	c/o J.P. Morgan Investment Management Inc.	  	
		  	1999 Avenue of the Stars	  	
		  	Suite 3200	  	
		  	Los Angeles, CA 90067	  	
		  	Attention: Michael Yoo	  	
		  	Facsimile: (310) 860-7104	  	
		  	Telephone:(310) 860-7126	  	
			
		  	With a Copy To:	  	
			
		  	Pinole Point Industrial, LLC;	  	
		  	 Fremont Bayside Industrial, LLC

c/o J.P. Morgan Investment Management Inc.
	  	
		  	P.O. Box 5005	  	
		  	New York, New York 10163-5005	  	
			
		  	With a Copy To:	  	
			
		  	Stroock & Stroock & Lavan LLP	  	
		  	2029 Century Park East, 16th Floor	  	
		  	Los Angeles, CA 90067	  	
		  	Attention: Stuart Graiwer, Esq.	  	
		  	Facsimile: (310) 407-6483	  	

  

 -33- 

					
		 	Telephone:(310) 556-5983	 	
			
		 	With a Copy To:	 	
			
		 	Richmond Pinole Point Industrial, LLC;	 	
		 	 Fremont Bayside Industrial, LLC

c/o Sares Regis Group
	 	
		 	18802 Bardeen Avenue	 	
		 	Irvine, CA 92612	 	
		 	Attention: Mr. William J. Thormahlen	 	
		 	Facsimile: (949) 756-5955	 	
		 	Telephone:(949) 756-5959	 	
			
		 	With a Copy To:	 	
			
		 	Allen Matkins Leck Gamble Mallory & Natsis LLP	 	
		 	1900 Main Street, 5th Floor	 	
		 	Irvine, CA 92612	 	
		 	Attention: Richard E. Stinehart, Esq.	 	
		 	Facsimile: (949) 553-8354	 	
		 	Telephone:(949) 553-1313	 	
			
		 	To Purchaser:	 	
			
		 	c/o Industrial Income Trust Inc.	 	
		 	518
17th Street,
17th Floor	 	
		 	Denver, Colorado 80202	 	
		 	Attention: Tom McGonagle	 	
		 	Facsimile: (303) 597-1561	 	
		 	Telephone:(303) 226-9891	 	
			
		 	With a Copy To:	 	
			
		 	Joshua J. Widoff	 	
		 	General Counsel	 	
		 	Industrial Income Trust Inc.	 	
			
		 	518
17th Street,
17th Floor	 	
		 	Denver, Colorado 80202	 	
			
		 	Facsimile: (303) 869-4602	 	
		 	Telephone:(303) 869-4600	 	
			
		 	With a Copy To:	 	
			
		 	Brownstein Hyatt Farber Schreck	 	
		 	410
17th Street,
22nd Floor	 	
		 	Denver, Colorado 80202	 	

  

 -34- 

					
		 	Attention: Robert Kaufmann	 	
		 	Facsimile: (303) 223-0976	 	
		 	Telephone:(303) 223-1176	 	
			
		 	To Escrowee:	 	
			
		 	First American Title Insurance Company	 	
		 	777 South Figueroa, Suite 400	 	
		 	Los Angeles, California 90017	 	
		 	Attention: Barbara Laffer	 	
		 	Facsimile: (213) 405-5899	 	
		 	Telephone:(213) 271-1712	 	

 Unless specifically required to be delivered to the Escrow Agent pursuant to the terms of this
Agreement, no notice hereunder must be delivered to the Escrow Agent in order to be effective so long as it is delivered to the other party in accordance with the above provisions. 

11.9 Third Parties. Nothing in this Agreement, whether expressed or implied, is intended to confer any rights or remedies under or
by reason of this Agreement upon any other person other than the parties hereto and their respective permitted successors and assigns, nor is anything in this Agreement intended to relieve or discharge the obligation or liability of any third
persons to any party to this Agreement, nor shall any provision give any third parties any right of subrogation or action over or against any party to this Agreement. This Agreement is not intended to and does not create any third party beneficiary
rights whatsoever. 
 11.10 Legal Costs. The parties hereto agree that they shall pay directly any and all legal costs
which they have incurred on their own behalf in the preparation of this Agreement, all deeds and other agreements pertaining to this transaction, and that such legal costs shall not be part of the closing costs. In addition, if either Purchaser or
Sellers brings any suit or other proceeding with respect to the subject matter or the enforcement of this Agreement, the prevailing party (as determined by the court, agency, arbitrator or other authority before which such suit or proceeding is
commenced), in addition to such other relief as may be awarded, shall be entitled to recover reasonable attorneys’ fees, expenses and costs of investigation actually incurred. The foregoing includes attorneys’ fees, expenses and costs of
investigation (including those incurred in appellate proceedings), costs incurred in establishing the right to indemnification, or in any action or participation in, or in connection with, any case or proceeding under Chapter 7, 11 or 13 of the
Bankruptcy Code (11 United States Code Sections 101 et seq.), or any successor statutes. 
 11.11 Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. Executed copies hereof may be delivered by facsimile, PDF or email, and, upon receipt,
shall be deemed originals and binding upon the parties hereto. Without limiting or otherwise affecting the validity of executed copies hereof that have been delivered by facsimile, PDF or email, the parties will use diligent efforts to deliver
originals as promptly as possible after execution. 
  

 -35- 

 11.12 Effectiveness. In no event shall any draft of this Agreement create any
obligation or liability, it being understood that this Agreement shall be effective and binding only when a counterpart hereof has been executed and delivered by each party hereto. Sellers shall have the right to discontinue negotiations and
withdraw any draft of this Agreement at any time prior to the full execution and delivery of this Agreement by each party hereto. Except as set forth in Section 9.1, Purchaser assumes the risk of all costs and expenses incurred by Purchaser in
any negotiations or due diligence investigations undertaken by Purchaser with respect to the Project Assets. 
 11.13 No
Implied Waivers. No failure or delay of either party in the exercise of any right or remedy given to such party hereunder or the waiver by any party of any condition hereunder for its benefit (unless the time specified in this Agreement for
exercise of such right or remedy has expired) shall constitute a waiver of any other or further right or remedy nor shall any single or partial exercise of any right or remedy preclude other or further exercise thereof or any other right or remedy.
No waiver by either party of any breach hereunder or failure or refusal by the other party to comply with its obligations shall be deemed a waiver of any other or subsequent breach, failure or refusal to so comply. 

11.14 Discharge of Sellers’ Obligations. Except as otherwise expressly provided in this Agreement or in any closing document
delivered by Sellers, including all provisions that expressly survive the Closing, Purchaser’s acceptance of the Deeds shall be deemed a discharge of all of the obligations of Sellers hereunder and all of Sellers’ representations,
warranties, covenants and agreements in this Agreement shall merge in the documents and agreements executed at the Closing and shall not survive the Closing, except and to the extent that, pursuant to the express provisions of this Agreement, any of
such representations, warranties, covenants or agreements are to survive the Closing. 
 11.15 No Recordation. Except in
connection with any action for specific performance by Purchaser, neither this Agreement nor any memorandum thereof shall be recorded and any attempted recordation hereof shall be void and shall constitute a default hereunder. 

11.16 Unenforceability. If all or any portion of any provision of this Agreement shall be held to be invalid, illegal or
unenforceable in any respect, then such invalidity, illegality or unenforceability shall not affect any other provision hereof, and such provision shall be limited and construed as if such invalid, illegal or unenforceable provision or portion
thereof were not contained herein unless doing so would materially and adversely affect a party or the benefits that such party is entitled to receive under this Agreement. 

11.17 Waiver of Trial by Jury. TO THE FULLEST EXTENT PERMITTED BY LAW, SELLERS AND PURCHASER HEREBY WAIVE TRIAL BY JURY
IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER ARISING IN TORT OR CONTRACT) BROUGHT BY EITHER AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT. 

 

 -36- 

 11.18 Disclosure. All of the terms and conditions of this Agreement (including the
identity of Purchaser and the existence of this Agreement) are confidential, and neither party shall disclose such terms and conditions or the existence of this Agreement to anyone other than to legal counsel, lenders and potential lenders and other
agents and representatives who need to know such information in connection with the transactions contemplated herein. Subject to the requirements of applicable laws, neither Sellers nor Purchaser shall make any news releases or any public disclosure
with respect to the transactions contemplated herein without the prior written consent of the other party, which consent may not be unreasonably withheld; provided, however, that Sellers and Purchaser shall be permitted to make any disclosure
required by law, including without limitation any disclosure required by the United States Securities and Exchange Commission. 

11.19 Consents and Approvals. Except as otherwise expressly provided herein, any determination, election, approval, consent or
waiver provided to be given by a party hereunder must be in a form of written communication in order to be effective and may be given or withheld in the sole and absolute discretion of such party. 

11.20 Tax Reduction Proceedings. If any Seller has heretofore filed applications for the reduction of the assessed valuation of a
Project Asset and/or instituted certiorari proceedings to review such assessed valuations for any prior tax years, then Sellers shall have sole control of such proceedings, including the right to withdraw, compromise and/or settle the same or cause
the same to be brought on for trial and to take, conduct, withdraw and/or settle appeals, and Purchaser hereby consents to such actions as Sellers may take therein. Any refund or the savings or refund for any year or years prior to the tax year in
which the Closing herein occurs shall belong solely to Sellers. Any tax savings or refund for the tax year in which the Closing occurs shall be prorated between Sellers and Purchaser after deduction of attorneys’ fees and other expenses related
to the proceeding and all sums payable to tenants under the Leases. All sums payable to tenants under the Leases on account of such tax savings or refund attributable to any period prior to Closing shall be promptly paid to such tenants following
receipt of such tax savings or refund. 
 11.21 Press Releases. Any press release or other public disclosure regarding
this Agreement or the transaction contemplated hereby shall not be made without the other party’s prior written consent. 

11.22 California Required Natural Hazard Disclosure. Sellers have commissioned Escrowee to prepare the natural hazard disclosure
statement in the form required by California Civil Code Section 1103. Purchaser acknowledges that this transaction is not subject to that Civil Code Section, but that nevertheless the form promulgated therein serves to satisfy other statutory
disclosure requirements of applicable law. Sellers do not represent or warrant either the accuracy or completeness of the information on that Exhibit, and Purchaser shall use same merely as a guideline in its overall investigation of the Project
Assets. THESE HAZARDS MAY LIMIT PURCHASER’S ABILITY TO DEVELOP THE PROJECT ASSETS, TO OBTAIN INSURANCE, OR TO RECEIVE ASSISTANCE AFTER A DISASTER. THE MAPS ON WHICH THESE DISCLOSURES ARE BASED ON ESTIMATE WHERE NATURAL HAZARDS EXIST. THEY ARE
NOT DEFINITIVE INDICATORS OF WHETHER OR NOT THE PROJECT ASSETS WILL BE AFFECTED BY A NATURAL 
  

 -37- 

 
DISASTER. PURCHASER MAY WISH TO OBTAIN PROFESSIONAL ADVICE REGARDING THOSE HAZARDS AND OTHER HAZARDS THAT MAY AFFECT THE PROJECT ASSETS. 

11.23 Information and Audit Cooperation. For a period of seventy-five (75) days after the Closing Date, solely in connection
with Purchaser’s reporting requirements, upon at least five (5) days written request from Purchaser, Sellers, at Purchaser’s sole cost and expense, shall (i) reasonably cooperate with Purchaser and its auditors to provide
reasonable information (other than Confidential Information) relating to the operation of the Project Assets during Sellers’ period of ownership, which information shall be provided without any representations or warranties (except as set forth
in the Audit Letter, as hereinafter defined), and (ii) shall provide Purchaser’s designated independent auditors a representation letter regarding the books and records of the Project Assets in substantially the form attached hereto as
Schedule 11.23 (the “Audit Letter”). In no event shall Sellers or any Seller Related Party have any liability to Purchaser or any Purchaser Representative in connection with any information provided pursuant to this
Section 11.23, except due to Sellers’ gross negligence or intentional willful misconduct. Purchaser shall indemnify Sellers and the Seller Related Parties and hold them harmless from and against any and all claims, demands, and causes of
action, and all actual out-of-pocket losses, damages, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ fees and disbursements) suffered or incurred by any of them and arising out of or in connection with the
use, disclosure or reliance by Purchaser or any Purchaser Representative on any information provided by Sellers pursuant to this Section 11.23, except due to Sellers’ gross negligence or intentional willful misconduct. Notwithstanding
anything herein to the contrary, nothing herein is intended to limit Sellers’ obligations with respect to any representations or warranties set forth in this Agreement or in any document delivered by Sellers at Closing, which representations
and warranties shall at all times be subject to the terms of this Agreement or any such document delivered by Sellers at Closing, as applicable. 

11.24 Survival. The provisions of this Section 11 shall survive the Closing or the termination of this Agreement. 

[Remainder of Page Intentionally Left Blank] 

 

 -38- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
above written. 
  

															
		 	RICHMOND PINOLE POINT INDUSTRIAL, LLC,
 a Delaware
limited liability company

			
		 	By:	 	Pinole Point Sares, LLC,
 a Delaware limited liability
company,
 Managing Member

				
		 		 	By:	 	SRGNC Pinole Investors, L.P.,
 a Delaware limited partnership,

 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	
 

								
		 		 		 		 		 		 	Name:	  	Robert Wagner
		 		 		 		 		 		 	Title:	  	President

  

 -39- 

															
		 	FREMONT BAYSIDE INDUSTRIAL, LLC
 a Delaware limited
liability company

			
		 	By:	  	Fremont Bayside Sares, LLC,
 a Delaware limited liability
company,
 Managing Member

				
		 		  	By:	  	SRGNC Fremont Bayside Investors, L.P.,
 a Delaware limited
partnership,
 Managing Member

					
		 		  		  	By:	  	Sares-Regis Group of Northern California, L.P.,
 a
California limited partnership,
 General Partner

						
		 		  		  		  	By:	  	Wagner Kroll Properties, Inc.,
 a California corporation,

 General partner

							
		 		  		  		  		  	By:	  	
 

								
		 		  		  		  		  		  	Name:	  	Robert Wagner
		 		  		  		  		  		  	Title:	  	President

  

 -40- 

													
	PURCHASER:
	
	 lIT ACQUISITIONS LLC,

a Delaware limited liability company

		
	By:	 	IIT Real Estate Holdco LLC, its Sole Member
		
	By:	 	Industrial Income Operating Partnership, LP, its Sole     Member
		 		 	By: Industrial Income Trust Inc., its General Partner
							
		 		 		 		 		 	By:	 	
 

		 		 		 		 		 	Name:	 	TOM McGONAGLE
		 		 		 		 		 	Title:	 	CFO

  

 -41- 

 EXHIBIT A-1 

(Land – Fremont) 
 Real
property in the City of Fremont, County of Alameda, State of California, described as follows: 
 PARCEL ONE: 

PARCEL 1, AS SHOWN AND DESIGNATED ON PARCEL MAP 5475, FILED JUNE 28, 1989, MAP BOOK 184, PAGES 70 AND 71, ALAMEDA COUNTY RECORDS. 

EXCEPTING THEREFROM: 
 ALL OIL, GAS, MINERAL,
GEOTHERMAL AND HYDROCARBON SUBSTANCES IN AND UNDER OR THAT MAY BE PRODUCED BELOW A DEPTH OF 500 FEET BELOW THE SURFACE OF SAID PROPERTY WITHOUT ANY RIGHT OF ENTRY UPON THE SURFACE OF SAID LAND FOR THE PURPOSE OF MINING, DRILLING, EXPLORING OR
EXTRACTING SUCH OIL, GAS, MINERAL, GEOTHERMAL OR HYDROCARBON SUBSTANCES AND WITHOUT ANY RIGHT TO THE USE OF OR RIGHTS IN OR TO ANY PORTION OF THE SURFACE OF SAID LAND TO A DEPTH OF 500 FEET BELOW THE SURFACE THEREOF, AS RESERVED BY KING AND LYONS, A
CALIFORNIA GENERAL PARTNERSHIP, WHO ACQUIRED TITLE AS KING & LYONS, A PARTNERSHIP, BY DEED RECORDED JULY 19, 1989, SERIES NO. 89-194189, ALAMEDA COUNTY RECORDS. 

PARCEL TWO: 
 AN EASEMENT FOR STORM DRAIN
PURPOSES, APPURTENANT TO THE HEREINABOVE DESCRIBED PARCEL ONE, AS GRANTED BY MERVYNS, A CALIFORNIA CORPORATION RECORDED SEPTEMBER 1, 1988, SERIES NO. 88-223223, ALAMEDA COUNTY RECORDS, DESCRIBED AS FOLLOWS: 

A STRIP OF LAND 15 FEET IN WIDTH, THE SOUTHWESTERLY LINE THEREOF BEING PARALLEL WITH AND 10 NORTHEASTERLY OF THE FOLLOWING DESCRIBED LINE; 

BEGINNING AT THE SOUTHERLY CORNER OF LOT 25 AS SHOWN UPON TRACT MAP NO. 5187, RECORDED IN MAP BOOK 145, PAGES 6 THROUGH 16, INCLUSIVE, THENCE NORTH
51° 49’ 27”; WEST, A DISTANCE OF 388.00 FEET TO THE TRUE POINT OF BEGINNING: THENCE NORTH 51° 49’ 27” WEST, A DISTANCE OF 24.07 FEET; 

THENCE ALONG A TANGENT CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 756.00 FEET THROUGH A CENTRAL ANGLE OF 10° 19’ 12”, AN ARC LENGTH
OF 136.17 FEET TO THE TERMINUS OF SAID LINE BEING DESCRIBED. 
 PARCEL THREE: 

AN EASEMENT FOR STORM DRAIN PURPOSES, APPURTENANT TO THE HEREINABOVE DESCRIBED PARCEL ONE, AS GRANTED BY KING & LYONS, A CALIFORNIA GENERAL
PARTNERSHIP, RECORDED JULY 19, 1989, SERIES NO. 89-194191, ALAMEDA COUNTY RECORDS, DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE SOUTHWEST CORNER OF
PARCEL 3, ALSO BEING ON THE NORTHERLY RIGHT-OF-WAY LINE OF FREMONT BOULEVARD (88’ WIDE) AS SHOWN UPON PARCEL MAP 5475, RECORDED IN BOOK 184 OF MAPS, PAGES 70 AND 71, ALAMEDA COUNTY RECORDS; THENCE LEAVING SAID POINT OF BEGINNING NORTH 38°
02’ 47” EAST, A DISTANCE OF 10.00 
  

 EXHIBIT A-1 

-1- 

 
FEET TO A POINT 10.00 FEET, MEASURED AT RIGHT ANGLES, NORTHERLY OF THE NORTHERLY RIGHT-OF-WAY LINE OF FREMONT BOULEVARD, TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG THE WESTERLY LINE
OF SAID PARCEL 3, NORTH 38° 02’ 47”,EAST A
DISTANCE OF 20.00 FEET; THENCE LEAVING SAID WESTERLY LINE, SOUTH 51° 49’ 27” EAST, A DISTANCE OF 249.88 FEET; THENCE SOUTH 38° 02’ 47” WEST, A DISTANCE OF 20.00 FEET TO A POINT OF 10.00 FEET, MEASURED AT RIGHT ANGLES,
NORTHERLY OF THE NORTHERLY RIGHT-OF-WAY LINE OF FREMONT BOULEVARD; THENCE NORTH 51° 49’ 27” WEST, A DISTANCE OF 249.88 FEET TO THE TRUE POINT OF BEGINNING. 

APN: 519-1694-024-03 
  

 EXHIBIT A-1 

-2- 

 EXHIBIT A-2 

(Land – Pinole Point) 

Real property in the City of Richmond, County of Contra Costa, State of California, described as follows: 

PARCEL ONE: 
 LOT 3, AS SHOWN ON THE MAP OF
SUBDIVISION 8249, FILED MAY 30, 2000 IN BOOK 420 OF MAPS AT PAGES 13 THROUGH 17, INCLUSIVE, CONTRA COSTA COUNTY RECORDS. EXCEPTING THEREFROM: 

RIGHTS RESERVED IN THE DEED FROM BETHLEHEM STEEL CORPORATION TO PINOLE POINT STEEL COMPANY, RECORDED FEBRUARY 20, 1979 IN BOOK 9230, PAGE 459, OFFICIAL
RECORDS, AS FOLLOWS: 
 “EXCEPTING AND RESERVING TO THE GRANTOR, ITS SUCCESSORS AND ASSIGNS, ALL OIL ASPHALTUM, PETROLEUM, NATURAL GAS AND
OTHER HYDROCARBON IN OR UNDER THE ABOVE-DESCRIBED LANDS AND BEING AT A VERTICAL DEPTH OF FIVE HUNDRED (500) OR MORE FEET BELOW THE PRESENT NATURAL SURFACE OF THE GROUND, BUT WITHOUT RIGHT OF ENTRY ON THE SURFACE OF THE ABOVE-DESCRIBED LANDS OR
WITHIN FIVE HUNDRED (500) FEET BELOW SAID SURFACE EXCEPT AS PROVIDED HEREINBELOW. 
 FURTHER EXCEPTING AND RESERVING TO THE GRANTOR, ITS
SUCCESSORS AND ASSIGNS, THE RIGHT, AND THE RIGHT TO PERMIT OTHERS, TO INJECT WITHIN THE ABOVE-DESCRIBED LANDS FOR THE PURPOSE OF STORAGE WITHIN THE ABOVE-DESCRIBED LANDS AND OTHER LANDS, ANY QUANTITY OF NATURAL GAS BY PUMPING OR OTHERWISE, AND TO
STORE SUCH NATURAL GAS WITHIN ANY OR ALL FORMATIONS IN OR UNDER THE ABOVE-DESCRIBED LANDS, AND TO WITHDRAW THE SAME FROM THE ABOVE-DESCRIBED LANDS BY PUMPING OR OTHERWISE, PROVIDED, HOWEVER, THAT SUCH INJECTION AND WITHDRAWAL SHALL NOT TAKE PLACE
FROM THE PRESENT NATURAL SURFACE OF THE ABOVE-DESCRIBED LANDS OR WITHIN FIVE HUNDRED (500) FEET BELOW SAID SURFACE EXCEPT AS PROVIDED HEREINBELOW”. 

APN: 405-590-003 
 PARCEL TWO: 

LOT 1, AS SHOWN ON THE MAP OF SUBDIVISION 8249, FILED MAY 30, 2000 IN BOOK 420 OF MAPS AT PAGES 13 THROUGH 17, INCLUSIVE, CONTRA COSTA COUNTY RECORDS,
TOGETHER WITH THE FOLLOWING DESCRIBED PARCEL OF LAND: 
 ALL THAT PORTION OF LOT 2 OF SUBDIVISION 8249 (240 M 13), MORE PARTICULARLY DESCRIBED
AS FOLLOWS: 
 BEGINNING AT THE MOST SOUTHERLY CORNER OF SAID LOT 1, THENCE, FROM SAID POINT OF BEGINNING NORTHEASTERLY ALONG THE SOUTHEASTERN
LINE OF SAID LOT 1 NORTH 41° 42’ 44” EAST 209.62 FEET; THENCE LEAVING SAID SOUTHEASTERN LINE OF LOT 1 SOUTH 58° 56’ 44” EAST 540.79 FEET TO A POINT ON THE SOUTHEASTERN LINE OF SAID LOT 2; THENCE, ALONG THE SOUTHEASTERN
LINE OF SAID LOT 2 SOUTH 42° 38’ 11” WEST 210.27 FEET TO 
  

 EXHIBIT A-2 

-1- 

 
THE MOST SOUTHERLY CORNER OF SAID LOT 2; THENCE, ALONG THE SOUTHWESTERLY LINE OF SAID LOT 2 NORTH 58° 56’ 48” WEST 537.34 FEET TO THE POINT OF BEGINNING. SAID LEGAL DESCRIPTION
BEING PURSUANT TO THAT CERTAIN NOTICE OF LOT LINE ADJUSTMENT BY THE CITY OF RICHMOND, DATED SEPTEMBER 22, 2000 AND RECORDED OCTOBER 12, 2000, SERIES NO. 2000-222306, OFFICIAL RECORDS. 

EXCEPTING THEREFROM: 
 RIGHTS RESERVED IN THE
DEED FROM BETHLEHEM STEEL CORPORATION TO PINOLE POINT STEEL COMPANY, RECORDED FEBRUARY 20, 1979 IN BOOK 9230, PAGE 459, OFFICIAL RECORDS, AS FOLLOWS: 

“EXCEPTING AND RESERVING TO THE GRANTOR, ITS SUCCESSORS AND ASSIGNS, ALL OIL, ASPHALTUM, PETROLEUM, NATURAL GAS AND OTHER HYDROCARBON SUBSTANCES IN
OR UNDER THE ABOVE-DESCRIBED LANDS AND BEING AT A VERTICAL DEPTH OF FIVE HUNDRED (500) OR MORE FEET BELOW THE PRESENT NATURAL SURFACE OF THE GROUND, BUT WITHOUT RIGHT OF ENTRY ON THE SURFACE OF THE ABOVE-DESCRIBED LANDS OR WITHIN FIVE HUNDRED
(500) FEET BELOW SAID SURFACE EXCEPT AS PROVIDED HEREINBELOW. FURTHER EXCEPTING AND RESERVING TO THE GRANTOR, ITS SUCCESSORS AND ASSIGNS, THE RIGHT, AND THE RIGHT TO PERMIT OTHERS, TO INJECT WITH THE ABOVE-DESCRIBED LANDS FOR THE PURPOSE OF
STORAGE WITHIN THE ABOVE-DESCRIBED LANDS AND OTHER LANDS, ANY QUANTITY OF NATURAL GAS BY PUMPING OR OTHERWISE AND TO STORE SUCH NATURAL GAS WITHIN ANY OR ALL FORMATIONS IN OR UNDER THE ABOVE-DESCRIBED LANDS AND TO WITHDRAW THE SAME FROM THE
ABOVE-DESCRIBED LANDS BY PUMPING OR OTHERWISE; PROVIDED, HOWEVER, THAT SUCH INJECTION AND WITHDRAWAL SHALL NOT TAKE PLACE FROM THE PRESENT NATURAL SURFACE OF THE ABOVE-DESCRIBED LANDS OR WITHIN FIVE HUNDRED (500) FEET BELOW SAID SURFACE EXCEPT
AS PROVIDED HEREINBELOW”. 
 APN: 405-590-001 

PARCEL THREE: 
 LOT 2, AS SHOWN ON THE MAP OF
SUBDIVISION 8249, FILED MAY 30, 2000, IN BOOK 420 OF MAPS PAGES 13 THROUGH 17, INCLUSIVE, CONTRA COSTA COUNTY RECORDS. 
 EXCEPTING THEREFROM:

 1) THAT PORTION CONVEYED, PURSUANT TO THAT CERTAIN NOTICE OF LOT LINE ADJUSTMENT BY THE CITY OF RICHMOND, DATED SEPTEMBER 22, 2000 AND
RECORDED OCTOBER 12, 2000, SERIES NO. 2000-222306, OFFICIAL RECORDS, IN THE DEED FROM PINOLE POINT PROPERTIES, INC, A CALIFORNIA CORPORATION, DATED NOVEMBER 21, 2000 AND RECORDED NOVEMBER 22, 2000, SERIES NO. 2000-261550, CONTRA COSTA COUNTY
RECORDS, MORE PARTICULARLY DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE MOST SOUTHERLY CORNER OF SAID LOT 1, THENCE, FROM SAID POINT OF BEGINNING,
NORTHEASTERLY ALONG THE SOUTHEASTERN LINE OF SAID LOT 1 NORTH 41° 42’44”EAST 209.62 FEET, THENCE, LEAVING SAID SOUTHEASTERN LINE OF LOT 1 SOUTH 58° 56’ 44” EAST 540.79 FEET TO A POINT ON THE SOUTHEASTERN LINE OF SAID LOT
2, THENCE, ALONG THE SOUTHEASTERN LINE OF SAID LOT 2 SOUTH 42° 38’ 11” WEST 210.27 FEET TO THE MOST SOUTHERLY CORNER OF SAID LOT 2, THENCE, ALONG THE SOUTHWESTERLY LINE OF SAID LOT 2 NORTH 58° 56’ 48” WEST 537.34 FEET TO
THE POINT OF BEGINNING. 
  

 EXHIBIT A-2 

-2- 

 2) RIGHTS RESERVED IN THE DEED FROM BETHLEHEM STEEL CORPORATION TO PINOLE POINT STEEL COMPANY, RECORDED
FEBRUARY 20, 1979 IN BOOK 9230, PAGE 459, OFFICIAL RECORDS, AS FOLLOWS:. 
 “EXCEPTING AND RESERVING TO THE GRANTOR, ITS SUCCESSORS AND
ASSIGNS, ALL OIL ASPHALTUM, PETROLEUM, NATURAL GAS AND OTHER HYDROCARBON IN OR UNDER THE ABOVE-DESCRIBED LANDS AND BEING AT A VERTICAL DEPTH OF FIVE HUNDRED (500) OR MORE FEET BELOW THE PRESENT NATURAL SURFACE OF THE GROUND, BUT WITHOUT RIGHT
OF ENTRY ON THE SURFACE OF THE ABOVE-DESCRIBED LANDS OR WITHIN FIVE HUNDRED (500) FEET BELOW SAID SURFACE EXCEPT AS PROVIDED HEREINBELOW. 

FURTHER EXCEPTING AND RESERVING TO THE GRANTOR, ITS SUCCESSORS AND ASSIGNS, THE RIGHT, AND THE RIGHT TO PERMIT OTHERS, TO INJECT WITHIN THE
ABOVE-DESCRIBED LANDS FOR THE PURPOSE OF STORAGE WITHIN THE ABOVE-DESCRIBED LANDS AND OTHER LANDS, ANY QUANTITY OF NATURAL GAS BY PUMPING OR OTHERWISE, AND TO STORE SUCH NATURAL GAS WITHIN ANY OR ALL FORMATIONS IN OR UNDER THE ABOVE-DESCRIBED LANDS,
AND TO WITHDRAW THE SAME FROM THE ABOVE-DESCRIBED LANDS BY PUMPING OR OTHERWISE, PROVIDED, HOWEVER, THAT SUCH INJECTION AND WITHDRAWAL SHALL NOT TAKE PLACE FROM THE PRESENT NATURAL SURFACE OF THE ABOVE-DESCRIBED LANDS OR WITHIN FIVE HUNDRED
(500) FEET BELOW SAID SURFACE EXCEPT AS PROVIDED HEREINBELOW”. 
 APN: 405-590-002 

 

 EXHIBIT A-2 

-3- 

 EXHIBIT B-1 

FORM OF ESTOPPEL CERTIFICATE 

(Broadline) 
 The
undersigned as Tenant under that certain lease captioned “Multi Tenant Industrial Lease” (the “Lease”) made and entered into as of July 9, 2004 and by and between PPBP III, LLC, as Landlord, and the undersigned, as
Tenant, for that certain space containing approximately 32,832 square feet and located on the 1st floor of that certain building known as “Building 3” (the “Premises”) and located at 2100 Atlas Road, Suite E, Richmond,
California (the “Property”), hereby certifies as follows: 
 1. Attached hereto as Exhibit A is a true and
correct copy of the Lease and all amendments, supplements and modifications thereto. The Lease is in full force and effect and has not been modified, supplemented or amended in any way, except as provided in Exhibit A. The documents contained in
Exhibit A represent the entire agreement between Tenant and Landlord as to the Premises, and there are no other agreements, written or oral, which affect the occupancy of the Premises by the undersigned. 

2. The undersigned has commenced occupancy of the Premises described in the Lease, currently occupies the Premises and has accepted
possession of all the Premises. All obligations of Landlord required to be performed to date under the Lease have been performed, and, without limitation, any improvements required under the Lease to be constructed by Landlord have been completed to
the full satisfaction of Tenant. There are no unpaid tenant improvement allowances owing to Tenant. 
 3. The Lease Term
commenced on                      and expires on
                     Except as set forth on Exhibit A, Tenant has no right or option to (a) extend the term of the Lease, (b) expand
the space that it currently leases from Landlord or (c) terminate the Lease prior to the expiration date noted in the prior sentence. 

4. Tenant has not transferred, assigned, or sublet any portion of the Premises nor entered into any license or concession agreements with
respect thereto except as set forth on Exhibit A. 
 5. Tenant has no option, right of first offer, right of first refusal or
other purchase right with respect to the Premises or any portion thereof or any interest therein and the only interest of Tenant in the Premises is that of a tenant pursuant to the terms of the Lease. 

6. Monthly rent became payable on
                     and rent payments commenced on such date. Tenant currently pays monthly rent in the amount of
$[        ]and $[        ]for amortized tenant improvements, which amounts have been paid through
                    . Tenant also pays a pro rata share of monthly operating costs for taxes, insurance, utilities and other common area
maintenance charges. Tenant has been allocated [    ] parking spaces under the Lease. 
  

 EXHIBIT B-1 

-1- 

 7. All conditions of the Lease to be performed by Landlord necessary to the enforceability
of the Lease have been satisfied and neither Landlord nor Tenant is in default thereunder. All contributions required by the Lease to be paid by Landlord to date for improvements to the Premises have been paid in full. 

8. No rental has been paid more than one (1) month in advance, and no security has been deposited with Landlord, except for a
security deposit in the amount of $         and a Letter of credit in the Amount of $        . 

9. As of the date hereof there are no existing defenses, offsets, claims or credits that the undersigned has which preclude enforcement
of the Lease by Landlord. 
 10. (a) Tenant is not in default under the Lease, (b) Tenant has no claim, off-set or
counterclaim against Landlord (whether for abatement in rent, free rent or otherwise) now or in the future, and (c) to the knowledge of Tenant, Landlord is not in default under the Lease. 

11. The address or addresses for notices and other communications to be sent to Tenant is as is set forth in the Lease, or as may
otherwise be specifically stated in Exhibit A. 
 12. Neither Tenant, Guarantor under the Lease, or any managing member, general
partner or parent entity of Tenant or Guarantor is the subject of any bankruptcy, insolvency, debtor’s relief, reorganization, receivership or other similar proceedings. 

13. The undersigned has made no agreement with Landlord or any agent, representative or employee of Landlord concerning free rent,
partial rent, rebate of rental payments or any other similar rent concession (except as expressly set forth in the Lease). 

14. The undersigned has all governmental permits, licenses and consents required for the activities and operations being conducted or to
be conducted by it in or around the Building. 
 15. The undersigned acknowledges the right of ITT Acquisitions LLC, and its
successors and assigns (collectively, “Buyer”) and Buyer’s lender and its successors and assigns (collectively, “Lender”) to rely upon the certifications and agreements in this Certificate in acquiring the
property and in making a loan to Buyer, as applicable. 
 16. If Tenant is a corporation, partnership or other entity, each
individual executing this Estoppel Certificate on behalf of Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business in the state in which the Premises are located and that Tenant has full right
and authority to execute and deliver this Estoppel Certificate and that each person signing on behalf of Tenant is authorized to do so. 

(Signature Page Follows) 
  

 EXHIBIT B-1 

-2- 

 Executed at Richmond, California on the      day of
            , 2010. 
  

			
	“Tenant”:
	
	 BROADLINE MEDICAL, INC.,

a California corporation

		
	By:	 	  

	 Its:
	 	  

 

 EXHIBIT B-1 

-3- 

 EXHIBIT B-2 

FORM OF ESTOPPEL CERTIFICATE 

(International Delicacies) 

The undersigned as Tenant under that certain lease captioned “Multi Tenant Industrial Lease” (the “Lease”)
made and entered into as of December 15, 2002 and by and between Pinole Point Properties, Inc., as Landlord, and the undersigned, as Tenant, for that certain space containing approximately 43,776 square feet and located on the 1st floor of that
certain building known as “Building 3” (the “Premises”) and located at 2100 Atlas Road, Suite F, Richmond, California (the “Property”), hereby certifies as follows: 

1. Attached hereto as Exhibit A is a true and correct copy of the Lease and all amendments, supplements and modifications thereto. The
Lease is in full force and effect and has not been modified, supplemented or amended in any way, except as provided in Exhibit A. The documents contained in Exhibit A represent the entire agreement between Tenant and Landlord as to the Premises, and
there are no other agreements, written or oral, which affect the occupancy of the Premises by the undersigned. 
 2. The
undersigned has commenced occupancy of the Premises described in the Lease, currently occupies the Premises and has accepted possession of all the Premises. All obligations of Landlord required to be performed to date under the Lease have been
performed, and, without limitation, any improvements required under the Lease to be constructed by Landlord have been completed to the full satisfaction of Tenant. There are no unpaid tenant improvement allowances owing to Tenant. 

3. The Lease Term commenced on
                     and expires on
                     Except as set forth on Exhibit A, Tenant has no right or option to (a) extend the term of the Lease, (b) expand
the space that it currently leases from Landlord or (c) terminate the Lease prior to the expiration date noted in the prior sentence. 

4. Tenant has not transferred, assigned, or sublet any portion of the Premises nor entered into any license or concession agreements with
respect thereto except as set forth on Exhibit A. 
 5. Tenant has no option, right of first offer, right of first refusal or
other purchase right with respect to the Premises or any portion thereof or any interest therein and the only interest of Tenant in the Premises is that of a tenant pursuant to the terms of the Lease. 

6. Monthly rent became payable on
                     and rent payments commenced on such date. Tenant currently pays monthly rent in the amount of
$[        ], which amount has been paid through                     . Tenant also pays a pro
rata share of monthly operating costs for taxes, insurance, utilities and other common area maintenance charges. Tenant has been allocated [    ] parking spaces under the Lease. 

7. All conditions of the Lease to be performed by Landlord necessary to the enforceability of the Lease have been satisfied and neither
Landlord nor Tenant is in default thereunder. All contributions required by the Lease to be paid by Landlord to date for improvements to the Premises have been paid in full. 

 

 EXHIBIT B-2 

-1- 

 8. No rental has been paid more than one (1) month in advance, and no security has been
deposited with Landlord, except for a security deposit in the amount of $        . 

9. As of the date hereof there are no existing defenses, offsets, claims or credits that the undersigned has which preclude enforcement
of the Lease by Landlord. 
 10. (a) Tenant is not in default under the Lease, (b) Tenant has no claim, off-set or
counterclaim against Landlord (whether for abatement in rent, free rent or otherwise) now or in the future, and (c) to the knowledge of Tenant, Landlord is not in default under the Lease. 

11. The address or addresses for notices and other communications to be sent to Tenant is as is set forth in the Lease, or as may
otherwise be specifically stated in Exhibit A. 
 12. Neither Tenant, [Guarantor under the Lease], or any managing member,
general partner or parent entity of Tenant or [Guarantor] is the subject of any bankruptcy, insolvency, debtor’s relief, reorganization, receivership or other similar proceedings. 

13. The undersigned has made no agreement with Landlord or any agent, representative or employee of Landlord concerning free rent,
partial rent, rebate of rental payments or any other similar rent concession (except as expressly set forth in the Lease). 

14. The undersigned has all governmental permits, licenses and consents required for the activities and operations being conducted or to
be conducted by it in or around the Building. 
 15. The undersigned acknowledges the right of ITT Acquisitions LLC, and its
successors and assigns (collectively, “Buyer”) and Buyer’s lender and its successors and assigns (collectively, “Lender”) to rely upon the certifications and agreements in this Certificate in acquiring the
property and in making a loan to Buyer, as applicable. 
 16. If Tenant is a corporation, partnership or other entity, each
individual executing this Estoppel Certificate on behalf of Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business in the state in which the Premises are located and that Tenant has full right
and authority to execute and deliver this Estoppel Certificate and that each person signing on behalf of Tenant is authorized to do so. 

(Signature Page Follows) 
  

 EXHIBIT B-2 

-2- 

 Executed at Richmond, California on the      day of
            , 2010. 
  

			
	“Tenant”:
	
	 INTERNATIONAL DELICACIES,

a California corporation

		
	By:	 	  

	 Its:
	 	  

 

 EXHIBIT B-2 

-3- 

 AFFIRMATION OF GUARANTOR 

The undersigned as guarantor under that certain guaranty (the “Guaranty”) dated December 12, 2002, from Pinole
Point Properties, Inc. to Hossien Banejad, an Individual (“Guarantor”), hereby confirms, on behalf of itself and its successors and assigns, for the benefit of Landlord, Landlord’s prospective mortgagees,
Landlord’s prospective purchaser and their respective mortgagees, and their respective successors and assigns, that: (1) the foregoing certificate is true and correct; (2) the Guaranty is in full force and effect and has not been
assigned, supplemented, modified, waived or amended and there do not exist any other agreements concerning the Premises, whether oral or written, between the Landlord and the undersigned; and (3) upon acquisition of the Premises by
Landlord’s purchaser, the Guaranty will be enforceable by Landlord’s purchaser and it successors and assigns against the undersigned and its successors and assigns in accordance with its terms. 

 

			
	 HOSSIEN BANEJAD,

an Individual

		
	 By:
	 	  

 

 EXHIBIT B-2 

-4- 

 EXHIBIT B-3 

FORM OF ESTOPPEL CERTIFICATE 

(FBA) 

The undersigned as Tenant under that certain lease captioned “Multi Tenant Industrial Lease” (the
“Lease”) made and entered into as of May 29, 2003 and by and between PPBP II, LLC, as Landlord, and the undersigned, as Tenant, for that certain space containing approximately 27,000 square feet and located on the
1st floor of that certain building known as “Building
2” (the “Premises”) and located at 2500 Atlas Road, Suite C, Richmond, California (the “Property”), hereby certifies as follows: 

1. Attached hereto as Exhibit A is a true and correct copy of the Lease and all amendments, supplements and modifications thereto. The
Lease is in full force and effect and has not been modified, supplemented or amended in any way, except as provided in Exhibit A. The documents contained in Exhibit A represent the entire agreement between Tenant and Landlord as to the Premises, and
there are no other agreements, written or oral, which affect the occupancy of the Premises by the undersigned. 
 2. The
undersigned has commenced occupancy of the Premises described in the Lease, currently occupies the Premises and has accepted possession of all the Premises. All obligations of Landlord required to be performed to date under the Lease have been
performed, and, without limitation, any improvements required under the Lease to be constructed by Landlord have been completed to the full satisfaction of Tenant. There are no unpaid tenant improvement allowances owing to Tenant. 

3. The Lease Term commenced
                     on and expires on
                    . Except as set forth on Exhibit A, Tenant has no right or option to (a) extend the term of the Lease,
(b) expand the space that it currently leases from Landlord or (c) terminate the Lease prior to the expiration date noted in the prior sentence. 

4. Tenant has not transferred, assigned, or sublet any portion of the Premises nor entered into any license or concession agreements with
respect thereto except as set forth on Exhibit A. 
 5. Tenant has no option, right of first offer, right of first refusal or
other purchase right with respect to the Premises or any portion thereof or any interest therein and the only interest of Tenant in the Premises is that of a tenant pursuant to the terms of the Lease. 

6. Monthly rent became payable on
                     and rent payments commenced on such date. Tenant currently pays monthly rent in the amount of
$[        ], which amount has been paid through                     . Tenant also pays a pro
rata share of monthly operating costs for taxes, insurance, utilities and other common area maintenance charges. Tenant has been allocated [    ] parking spaces under the Lease. 

7. All conditions of the Lease to be performed by Landlord necessary to the enforceability of the Lease have been satisfied and neither
Landlord nor Tenant is in default thereunder. All contributions required by the Lease to be paid by Landlord to date for improvements to the Premises have been paid in full. 

 

 EXHIBIT B-3 

-1- 

 8. No rental has been paid more than one (1) month in advance, and no security has been
deposited with Landlord, except for a security deposit in the amount of $        . 

9. As of the date hereof there are no existing defenses, offsets, claims or credits that the undersigned has which preclude enforcement
of the Lease by Landlord. 
 10. (a) Tenant is not in default under the Lease, (b) Tenant has no claim, off-set or
counterclaim against Landlord (whether for abatement in rent, free rent or otherwise) now or in the future, and (c) to the knowledge of Tenant, Landlord is not in default under the Lease. 

11. The address or addresses for notices and other communications to be sent to Tenant is as is set forth in the Lease, or as may
otherwise be specifically stated in Exhibit A. 
 12. Neither Tenant, [Guarantor under the Lease], or any managing member,
general partner or parent entity of Tenant or [Guarantor] is the subject of any bankruptcy, insolvency, debtor’s relief, reorganization, receivership or other similar proceedings. 

13. The undersigned has made no agreement with Landlord or any agent, representative or employee of Landlord concerning free rent,
partial rent, rebate of rental payments or any other similar rent concession (except as expressly set forth in the Lease). 

14. The undersigned has all governmental permits, licenses and consents required for the activities and operations being conducted or to
be conducted by it in or around the Building. 
 15. The undersigned acknowledges the right of lIT Acquisitions LLC, and its
successors and assigns (collectively, “Buyer”) and Buyer’s lender and its successors and assigns (collectively, “Lender”) to rely upon the certifications and agreements in this Certificate in acquiring the
property and in making a loan to Buyer, as applicable. 
 16. If Tenant is a corporation, partnership or other entity, each
individual executing this Estoppel Certificate on behalf of Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business in the state in which the Premises are located and that Tenant has full right
and authority to execute and deliver this Estoppel Certificate and that each person signing on behalf of Tenant is authorized to do so. 

17. That notwithstanding anything herein to the contrary, Tenant hereby expressly reserves any and all claims it may have for overcharges
or incorrect billings under the Lease (or other contractual documents) for this location. Tenant has not performed a thorough examination or audit of the billings under this Lease (or other documents) and hereby expressly reserves the right to do so
at a later date and to make claim for any overcharges revealed as a result of such examination or audit. 
 (Signature Page
Follows) 
  

 EXHIBIT B-3 

-2- 

 Executed at
                     on the      day of
            , 2010. 
  

			
	“Tenant”:
	
	 FBA HOLDINGS, INC., c/o SEARS, ROEBUCK AND CO., A NEW YORK CORPORATION,

a Delaware corporation

		
	 By:
	 	  

	 Its:
	 	  

 

 EXHIBIT B-3 

-3- 

 EXBIBIT B-4 

FORM OF ESTOPPEL CERTIFICATE 

(Alan Ritchey) 

The undersigned as Tenant under that certain lease captioned “Build to Suit Industrial Lease” (the
“Lease”) made and entered into as of September 1998 and by and between Pinole Point Properties, Inc., as Landlord, and the undersigned, as Tenant, for that certain space containing approximately 200,000 square feet and located on
the 1st floor of that certain building known as
“Building 1” (the “Premises”) and located at 2900 Atlas Road, Richmond, California (the “Property”), hereby certifies as follows: 

1. Attached hereto as Exhibit A is a true and correct copy of the Lease and all amendments, supplements and modifications thereto. The
Lease is in full force and effect and has not been modified, supplemented or amended in any way, except as provided in Exhibit A. The documents contained in Exhibit A represent the entire agreement between Tenant and Landlord as to the Premises, and
there are no other agreements, written or oral, which affect the occupancy of the Premises by the undersigned. 
 2. The
undersigned has commenced occupancy of the Premises described in the Lease, currently occupies the Premises and has accepted possession of all the Premises. All obligations of Landlord required to be performed to date under the Lease have been
performed, and, without limitation, any improvements required under the Lease to be constructed by Landlord have been completed to the full satisfaction of Tenant. There are no unpaid tenant improvement allowances owing to Tenant. 

3. The Lease Term commenced on
                     and expires on
                    . Except as set forth on Exhibit A, Tenant has no right or option to (a) extend the term of the Lease,
(b) expand the space that it currently leases from Landlord or (c) terminate the Lease prior to the expiration date noted in the prior sentence. 

4. Tenant has not transferred, assigned, or sublet any portion of the Premises nor entered into any license or concession agreements with
respect thereto except as set forth on Exhibit A. 
 5. Tenant has no option, right of first offer, right of first refusal or
other purchase right with respect to the Premises or any portion thereof or any interest therein and the only interest of Tenant in the Premises is that of a tenant pursuant to the terms of the Lease. 

6. Monthly rent became payable on
                     and rent payments commenced on such date. Tenant currently pays monthly rent in the amount of
$[        ], which amount has been paid through                     . Tenant also pays a pro
rata share of monthly operating costs for taxes, insurance, utilities and other common area maintenance charges. Tenant has been allocated [    ] parking spaces under the Lease. 

7. All conditions of the Lease to be performed by Landlord necessary to the enforceability of the Lease have been satisfied and neither
Landlord nor Tenant is in default thereunder. All contributions required by the Lease to be paid by Landlord to date for improvements to the Premises have been paid in full. 

 

 EXHIBIT B-4 

-1- 

 8. No rental has been paid more than one (1) month in advance, and no security has been
deposited with Landlord, except for a security deposit in the amount of $        . 

9. As of the date hereof there are no existing defenses, offsets, claims or credits that the undersigned has which preclude enforcement
of the Lease by Landlord. 
 10. (a) Tenant is not in default under the Lease, (b) Tenant has no claim, off-set or
counterclaim against Landlord (whether for abatement in rent, free rent or otherwise) now or in the future, and (c) to the knowledge of Tenant, Landlord is not in default under the Lease. 

11. The address or addresses for notices and other communications to be sent to Tenant is as is set forth in the Lease, or as may
otherwise be specifically stated in Exhibit A. 
 12. Neither Tenant, Guarantor under the Lease, or any managing member, general
partner or parent entity of Tenant or Guarantor is the subject of any bankruptcy, insolvency, debtor’s relief, reorganization, receivership or other similar proceedings. 

13. The undersigned has made no agreement with Landlord or any agent, representative or employee of Landlord concerning free rent,
partial rent, rebate of rental payments or any other similar rent concession (except as expressly set forth in the Lease). 

14. The undersigned has all governmental permits, licenses and consents required for the activities and operations being conducted or to
be conducted by it in or around the Building. 
 15. The undersigned acknowledges the right of lIT Acquisitions LLC, and its
successors and assigns (collectively, “Buyer”) and Buyer’s lender and its successors and assigns (collectively, “Lender”) to rely upon the certifications and agreements in this Certificate in acquiring the
property and in making a loan to Buyer, as applicable. 
 16. If Tenant is a corporation, partnership or other entity, each
individual executing this Estoppel Certificate on behalf of Tenant hereby represents and warrants that Tenant is a duly formed and existing entity qualified to do business in the state in which the Premises are located and that Tenant has full right
and authority to execute and deliver this Estoppel Certificate and that each person signing on behalf of Tenant is authorized to do so. 

(Signature Page Follows) 
  

 EXHIBIT B-4 

-2- 

 Executed at Valley View, Texas on the      day of
            , 2010. 
  

			
	 “Tenant”:
  

ALAN RITCHEY, INC.,
 a Texas
corporation

		
	By:	 	  

	Its:	 	  

 

 EXHIBIT B-4 

-3- 

 EXHIBIT B-5 

ESTOPPEL CERTIFICATE 

(Super Micro) 

This Agreement (“Agreement”), dated as of             ,
        , executed by Super Micro Computer, Inc. (“Tenant”), in favor of lIT ACQUISITIONS LLC, a a Delaware limited liability company (“Purchaser”), is entered into with reference to
the following facts: 
 A. Tenant is presently leasing certain premises (the “Premises”) comprising the real property
(the “Property”) described in Exhibit A, attached hereto and incorporated herein by this reference, pursuant to that certain lease (as modified from time to time, the “Lease”) dated as of June 4, 2004, by and between
Tenant and Pinole Point Properties, Inc. (“Landlord”). 
 B. Purchaser is in escrow to acquire fee title to the
Property from Richmond Pinole Point Industrial, LLC, the current owner and Landlord of the Property. 
 In consideration of the
foregoing, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Tenant hereby agrees as follows: 

1. Certification by Tenant. Tenant hereby certifies to Purchaser and Landlord as follows: 

1.1 The Lease is in full force and effect, and Tenant has not transferred its interests in the Lease or agreed to do so. 

1.2 A true and complete copy of the Lease, together with all amendments, supplements and other modifications thereto (oral or written),
is attached hereto as Exhibit B. 
 1.3 No rent or other amount has been prepaid under the Lease, except as follows (if
none, state “None”):                      

1.4 No deposit of any nature has been made in connection with the Lease (other than deposits the nature and amount of which are expressly
described in the Lease), except as follows (if none, state “None”):                      

1.5 Tenant shall pay base rent under the Lease, upon the execution of the Lease, in the amount of
$         per month. 
 1.6 The Lease is the only agreement between Landlord and
Tenant with respect to the Premises, and Tenant claims no rights with respect to the Premises or the Property other than those set forth in the Lease, except as follows (if none, state “None”):
                     

1.7 To the best of Tenant’s knowledge, there are no existing defenses or offsets against amounts due or to become due to Landlord
under the Lease, and there are no existing uncured defaults by Landlord under the Lease, nor has any event occurred which, with the passage of time or the giving of notice or both, would constitute such a default, except as follows (if none, state
“None”):                      
  

 EXHIBIT B-5 

-1- 

 1.8 Landlord has offered no free rent period, building allowance or similar concession(s) to
induce Tenant to enter into the Lease, except as set forth in the Lease, and Landlord has no other obligations to Tenant in connection with the Lease, matured or not yet matured, except as set forth in the Lease. 

1.9 To the best of Tenant’s knowledge, no circumstance presently exists, and no event has occurred, that would prevent the Lease
from becoming effective or would entitle Tenant to terminate the Lease. 
 2. .Further Assurances. Tenant shall execute,
acknowledge and deliver to Landlord all documents, and shall take all actions, reasonably required by Landlord from time to time to confirm or effect the matters set forth herein, or otherwise to carry out the purposes of this Agreement. 

3. Miscellaneous. This Agreement shall bind, and shall inure to the benefit of, the successors and assigns of the parties. This
Agreement shall be governed by the laws of the State of California. 
 IN WITNESS WHEREOF, Tenant has caused this Agreement to
be duly executed as of the date first written above. 
  

			
	 TENANT:
  

SUPER MICRO COMPUTER, INC.

		
	 By:
	 	  

	 Its:
	 	  

 

 EXHIBIT B-5 

-2- 

 EXHIBIT B-6 

TENANT’S ESTOPPEL CERTIFICATE 

The undersigned (“Tenant”) hereby certifies to
                     (“Landlord”) and to lIT Acquisitions LLC, a Delaware limited liability company, and its successors and assigns,
and any other any prospective purchaser and such prospective purchaser’s lender as follows, with the understanding that Landlord, and such prospective purchaser and prospective purchaser’s lender, are relying on such certification in
connection with the proposed sale of                     . (the “Building”). 

(1) Tenant is the tenant under that certain lease (as amended from time to time, the “Lease”) dated
                    , between Landlord, as landlord, and Tenant, as tenant, covering square feet of net rentable area in the Building. A true,
correct and complete copy of the Lease [including all addenda, riders, amendments, modifications and supplements thereto (collectively, the “Lease Modifications”)] is attached as Exhibit “1” and each document comprising the Lease
Modifications is listed below: 

a.                    

b.                    

c.                    

 (2) The Lease constitutes the entire agreement between Landlord and Tenant with respect to the Premises, and the Lease has
not been modified, changed, altered or amended in any respect except as set forth above. 
 (3) The Lease is in full force and
effect and to the best of Tenant’s knowledge and belief, neither Landlord nor the Tenant is in default in any respect under the Lease. Except for the Lease, there are no agreements or other arrangements between Tenant and Landlord in respect of
the Leased Premises or the Building. 
 (4) The Lease commenced on
                     and taking into account any previously exercised options and all effective renewal terms, will expire on
                     unless sooner terminated as provided in the Lease. 

(5) Tenant is in possession of the premises leased to it (the “Leased Premises”) and to the best of Tenant’s knowledge and
belief, Landlord has complied fully and completely with all of its covenants, warranties and other undertakings and obligations under the Lease as of this date (including, without limitation, construction of al tenant or Building improvements and
payment in full of all construction allowances and any other allowances or inducements due and payable to Tenant), and that Tenant is fully obligated to pay, and is paying, the rent and other charges due thereunder, and is fully obligated to
perform, and is performing, all of the other obligations of Tenant under the Lease without right of counterclaim, offset, defense or otherwise. As of the date of this Estoppel Certificate, to the best knowledge of Tenant, there exists no breach or
default, nor state of facts which, with notice, the passage of time, or both, would result 
  

 EXHIBIT B-6 

-1- 

 
in a breach or default on the part of either Tenant or Landlord. To the best of Tenant’s knowledge, no claim, controversy, dispute, quarrel or disagreement exists between Tenant and
Landlord. 
 (6) The amount of the annual base rental under the Lease is $
        . Tenant has not made any prepayment of rent under the Lease more than one month in advance. All rentals, whether base or additional, and all other sums payable by Tenant under the Lease or any
amendment thereto, have been paid through                     . A security deposit in the amount of
$         was paid upon commencement of the Lease. The Lease contains the following monthly rent adjustments and other rent step-ups as set forth in Section      of the Lease:
                    . Operating costs, common area expenses, taxes and other pass throughs are based upon      base
year and (if applicable) and are presently included in Tenant’s monthly rental installments. No rent has been paid more than one (1) month in advance. Tenant has no claim or defense against Landlord under the Lease and is asserting no
offsets or credits against either the rent or Landlord. Tenant has no claim against Landlord for any security or other deposits except $         which was paid pursuant to the Lease. 

(7) Tenant has no option, right of first offer or right of first refusal to purchase any of the Leased Premises, nor any right or
interest with respect to the Leased Premises other than as a tenant under the Lease. Tenant has no right to renew or extend the term(s) of the Lease except
                    . 

(8) There has not been filed by or against Tenant a petition in bankruptcy, voluntary or otherwise, any assignment for the benefit of
creditors, any petition seeking reorganization or arrangement under the bankruptcy laws of the United States, or any state thereof, or any other action brought under said bankruptcy laws with respect to Tenant. 

(9) Tenant has not sublet or assigned any portion of the Leased Premises. 

(10) Tenant has no preferential right to parking spaces or storage area(s) except
                    . 

(11) Tenant has made no agreement with Landlord or any agent, representative or employee of Landlord concerning free rent, partial rent,
rebate of rental payments or any other type of rental or other concession except                     . 

(12) All insurance required of Tenant by the Lease has been provided by Tenant and all premiums paid. 

(13) Any guaranty agreement provided in connection with the Lease remains in full force and effect, no amounts are due from guarantor or
have been paid by guarantor under such guaranty and there are no existing credits, defenses, offsets or counterclaims which guarantor has against Landlord or tenant which would adversely affect the enforcement of the guaranty by Landlord. A true and
correct copy of such guaranty is attached hereto. 
  

 EXHIBIT B-6 

-2- 

 (14) This letter shall inure to the benefit of Landlord, its successors and assigns, any
purchaser of the Building and their lender (and their successors and assigns), and shall be binding upon Tenant and Tenant’s heirs, legal representatives, successors and assigns. This letter shall not be deemed to alter or modify any of the
terms and conditions of the Lease. 
 [Signatures follow on next page] 

 

 EXHIBIT B-6 

-3- 

 EXECUTED this      day of
                    , 2010. 
  

					
	 “TENANT”
	  		  	  

		  		  	  

 

					
	By:	 	  

		 	Print Name:	 	  

		 	Print Title:	 	  

 

 EXHIBIT B-6 

-4- 

 EXHIBIT C 

SELLER’S ESTOPPEL CERTIFICATE 

This Seller’s Estoppel Certificate is executed and delivered as of the      day of
            , 2010 pursuant to, and is subject to the terms and provisions of that certain Contract of Sale (the “Contract”) dated
                     between
[                    ], a Delaware limited liability company (“Seller”) and
[                    ] (“Purchaser”). All capitalized terms used but not otherwise defined herein shall have the meanings ascribed
to such terms in the Contact. 
 In connection with the sale of
[                    ] (the “Property”) to Purchaser,
                     (“Tenant”) has failed to sign and return a Tenant Estoppel Certificate pertaining to the lease (the
“Lease”) dated as of                     , by and between Seller, as landlord, and Tenant, as tenant, which Lease encumbers a
portion of the Property. Seller, therefore, represents and warrants to Purchaser the following with respect to the Lease: 
  

	 	1.	To Seller’s actual knowledge, attached hereto as Exhibit A is a true and correct copy of the Lease and all amendments and modifications thereto. To
Seller’s actual knowledge, the documents described on Exhibit A attached hereto represent the entire agreement between the parties as to the Project Assets. 

 

	 	2.	To Seller’s actual knowledge, the Lease commenced on
                    . 

  

	 	3.	To Seller’s actual knowledge, the current monthly amount of rent due under the Lease is $        , which rent has
been paid in full through the month of             , 2010. 

  

	 	4.	To Seller’s actual knowledge, all tenant improvements and other such construction work required to be performed by Landlord pursuant to the Lease has been
completed. 

  

	 	5.	To Seller’s actual knowledge, neither Landlord nor Tenant is in monetary default or material non-monetary default under the Lease. 

References made hereunder to “Seller’s actual knowledge” shall refer only to the current actual (as opposed to
constructive) knowledge of Peter Rooney and Larry Lukanish and shall not be construed, by imputation or otherwise, to refer to the knowledge of Seller or any parent, subsidiary or affiliate of Seller or to any other officer, agent, manager,
representative or employee of Seller or to impose upon Peter Rooney and Larry Lukanish any duty to investigate the matter to which such actual knowledge, or the absence thereof, pertains. 

The undersigned acknowledges that this Seller’s Estoppel Certificate is being delivered to Purchaser, and that said Purchaser will
be relying upon the statements contained herein in purchasing the Property from Seller. Notwithstanding the foregoing, this Seller’s Estoppel Certificate shall be of no force or effect and Seller shall be relieved from any liability

  

 EXHIBIT C 

-1- 

 
hereunder upon the sooner to occur of (a) ninety (90) days following the Closing Date and (b) the date of delivery to Purchaser of a Tenant Estoppel Certificate executed by Tenant
for which Seller has delivered this Seller’s Estoppel Certificate. 
 [Signatures to follow on next page.]

  

 EXHIBIT C 

-2- 

 IN WITNESS WHEREOF, Seller has caused this Seller’s Estoppel Certificate to be duly
executed as of the      day of             , 2010. 
  

			
	Seller:
	
	[                           
     ]
	 a Delaware limited liability company

		
	 By:
	 	[                    ]
		
	 By:
	 	  

		 	Name:
		 	Title:

  

 EXHIBIT C 

-3- 

 EXHIBIT D-1 

(Form of Deed) 

RECORDING REQUESTED BY: 

FIRST AMERICAN TITLE INSURANCE COMPANY 

WHEN RECORDED MAIL TO: 
 INDUSTRIAL
INCOME TRUST 
 518 Seventeenth Street,
17th Floor 

Denver, Colorado 80202 

	
	Attn:
                                    
	Tel.
                              

MAIL TAX STATEMENTS TO: 

                        
                     

                        
                     

                        
                     
 Attn:
                                     

--------------------------------------------SPACE ABOVE THIS LINE FOR RECORDER’S
USE-------------------------------------------- 
  

	
	APN:
                                    
	Address:
                              

GRANT DEED 

DOCUMENTARY TRANSFER TAX NOT SHOWN PURSUANT TO 

SECTION 11932 OF THE REVENUE AND TAXATION CODE, AS AMENDED 

THIS GRANT DEED (this “Deed”) is executed as of the      day of
            , 2010, from RICHMOND PINOLE POINT INDUSTRIAL, LLC, a Delaware limited liability company (“Grantor”), to
[                    ], a
[                    ] (“Grantee”). 

W I T N E S S E T H: 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Grantor, Grantor does hereby
grant, bargain and sell, unto Grantee, all the real property more particularly described on Exhibit A attached hereto, together with all of Grantor’s right, title and interest in all buildings, improvements, fixtures, easements, tenements,
hereditaments, and appurtenances of every kind or nature belonging thereto (hereinafter collectively referred to as the “Property”), subject to all exceptions to title thereto, whether of record or not of record. 

 

 EXHIBIT D1 

-1- 

 WITNESS my hand. 

 

															
		  	Grantor:
		
		  	 RICHMOND PINOLE POINT INDUSTRIAL, LLC,

a Delaware limited liability company

			
		  	 By:
	  	 Pinole Point Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		  		  	By:	  	 SRGNC Pinole Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		  		  		  	 By:
	  	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		  		  		  		  	By:	  	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		  		  		  		  		  	By:	  	  

								
		  		  		  		  		  		  	Name:	  	  

		  		  		  		  		  		  	Title:	  	  

  

 EXHIBIT D1 

-2- 

 STATE OF
                     ) 

                         
                       ) 

COUNTY OF                      ) 

On                     , 2010,
before me                     , Notary Public, personally appeared
                    , who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within
instrument and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

 WITNESS my hand and official seal. 

 

	
	  

	Signature of Notary

 (SEAL) 

CAPACITY CLAIMED BY SIGNER: 
  

									
	[    ]	 	Individual(s)	 	[    ]	 	Attorney-In-Fact	  	
	[    ]	 	Partner(s)	 	[    ]	 	Subscribing Witness	  	
	[    ]	 	Trustee(s)	 	[    ]	 	Guardian/Conservator	  	
	[    ]	 	Corporate
                                	 	[    ]	 	Other:
                                        
	  	
		 	Officer(s)
                                 	 		 	____________________________________	  	
	Title(s)	 		 		 	____________________________________	  	

 Name of Instrument:
                        GRANT DEED 

 

 EXHIBIT D1 

-3- 

 STATEMENT OF DOCUMENTARY TRANSFER TAX DUE 

AND REQUEST THAT TAX DECLARATION 

NOT BE MADE A PART OF THE PERMANENT RECORD 

IN THE OFFICE OF THE COUNTY RECORDER 

(Pursuant to California Revenue and Taxation Code Section 11932) 

To: Registrar – Recorder, County of
                    : 

In accordance with California Revenue and Taxation Code Section 11932, it is requested that this Statement of Documentary Transfer
Tax Due not be recorded with the attached Grant Deed, but instead be affixed to the Grant Deed after the Grant Deed is recorded and before the Grant Deed is returned as directed on the Grant Deed. 

The Grant Deed names: 

                      
          , as Grantor 
 and 

                      
          , as Grantee 
 The property described in the Grant Deed is
located in: the City of                     , County of
                    , State of California. 

The amount of the documentary transfer tax due on the attached Grant Deed is $         to
the County of                      and $         [if any] to the City of
                    , computed on the full value of the Property. 

WITNESS my hand. 
  

							
	Grantor:
	
	 RICHMOND PINOLE POINT INDUSTRIAL, LLC,

a Delaware limited liability company

		
	By:	 	Pinole Point Sares, LLC,
 a Delaware limited liability
company,
 Managing Member

			
		 	By:	 	SRGNC Pinole Investors, L.P.,
 a Delaware limited
partnership,
 Managing Member

				
		 		 	By:	 	Sares-Regis Group of Northern California, L.P.,

  

 EXHIBIT D1 

-4- 

									
	 a California limited partnership,

General Partner

		
	By:	 	Wagner Kroll Properties, Inc.,
 a California corporation,

 General Partner

			
		 	By:	 	  

					
		 		 	Name:	 		 	  

		 		 	Title:	 		 	  

 

 EXHIBIT D1 

-5- 

 EXHIBITS: 

Exhibit A – Property Description 
  

 EXHIBIT D1 

-6- 

 EXHIBIT D-2 

(Form of Deed) 

RECORDING REQUESTED BY: 

FIRST AMERICAN TITLE INSURANCE COMPANY 

WHEN RECORDED MAIL TO: 

INDUSTRIAL INCOME TRUST 

518 Seventeenth Street,
17th Floor 

Denver, Colorado 80202 
 Attn:
                                 

Tel.
                                     

MAIL TAX STATEMENTS TO: 

                        
                   

                        
                   

                        
                   
 Attn:
                                 

--------------------------------------------SPACE ABOVE THIS LINE FOR RECORDER’S USE--------------------------------------------

 APN:
                                 

Address:
                             

GRANT DEED 

DOCUMENTARY TRANSFER TAX NOT SHOWN PURSUANT TO 

SECTION 11932 OF THE REVENUE AND TAXATION CODE, AS AMENDED 

THIS GRANT DEED (this “Deed”) is executed as of the      day of
            , 2010, from FREMONT BAYSIDE INDUSTRIAL, LLC, a Delaware limited liability company (“Grantor”), to
[                    ], a
[                    ] (“Grantee”). 

W I T N E S S E T H: 

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Grantor, Grantor does hereby
grant, bargain and sell, unto Grantee, all the real property more particularly described on Exhibit A attached hereto, together with all of Grantor’s right, title and interest in all buildings, improvements, fixtures, easements, tenements,
hereditaments, and appurtenances of every kind or nature belonging thereto (hereinafter collectively referred to as the “Property”), subject to all exceptions to title thereto, whether of record or not of record. 

 

 EXHIBIT D2 

-1- 

 WITNESS my hand. 

 

															
		 	Grantor:
		
		 	FREMONT BAYSIDE INDUSTRIAL, LLC
 a Delaware limited
liability company

			
		 	By:	 	Fremont Bayside Sares, LLC,
 a Delaware limited liability
company,
 Managing Member

				
		 		 	By:	 	SRGNC Fremont Bayside Investors, L.P.,
 a Delaware limited
partnership,
 Managing Member

					
		 		 		 	By:	 	Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	Wagner Kroll Properties, Inc.,
 a California
corporation,
 General Partner

							
		 		 		 		 		 	By:	 	 
								
		 		 		 		 		 		 	Name:	  	 
		 		 		 		 		 		 	Title:	  	                       
                   

  

 EXHIBIT D2 

-2- 

 EXHIBITS: 

Exhibit A – Property Description 
  

 EXHIBIT D2 

-3- 

 STATE OF
                             ) 

                         
                                ) 

COUNTY OF
                              ) 

On                  , 2010, before me,
                    , Notary Public. personally appeared
                    , who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within
instrument and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

 WITNESS my hand and official seal. 

 

	
	  

	Signature of Notary

 (SEAL) 

CAPACITY CLAIMED BY SIGNER: 
  

									
	[ ]	 	    Individual(s)	  	[ ]	 	    Attorney-In-Fact	  	
	[ ]	 	    Partner(s)	  	[ ]	 	    Subscribing Witness	  	
	[ ]	 	    Trustee(s)	  	[ ]	 	    Guardian/Conservator	  	
	[ ]	 	    Corporate
                                         
           	  	[ ]	 	    Other:
                                         
                 	  	
		 	    Officer(s)
                                         
            	  		 	_____________________________________	  	
	Title(s)	  		 	_____________________________________	  	

 Name of
Instrument:                                 GRANT DEED 

 

 EXHIBIT D2 

-4- 

 STATEMENT OF DOCUMENTARY TRANSFER TAX DUE 

AND REQUEST THAT TAX DECLARATION 

NOT BE MADE A PART OF THE PERMANENT RECORD 

IN THE OFFICE OF THE COUNTY RECORDER 

(Pursuant to California Revenue and Taxation Code Section 11932) 

To: Registrar – Recorder, County of
                    : 

In accordance with California Revenue and Taxation Code Section 11932, it is requested that this Statement of Documentary Transfer
Tax Due not be recorded with the attached Grant Deed, but instead be affixed to the Grant Deed after the Grant Deed is recorded and before the Grant Deed is returned as directed on the Grant Deed. 

The Grant Deed names: 

                      
          , as Grantor 
 and 

                      
          , as Grantee 
 The property described in the Grant Deed is
located in: the City of                     , County of
                    , State of California. 

The amount of the documentary transfer tax due on the attached Grant Deed is $         to
the County of                      and $          [if any] to the City of
                    , computed on the full value of the Property. 

WITNESS my hand. 
  

 EXHIBIT D2 

-5- 

															
		 	Grantor:
		
		 	FREMONT BAYSIDE INDUSTRIAL, LLC
 a
Delaware limited liability company

			
		 	By:	 	Fremont Bayside Sares, LLC,
 a Delaware limited liability
company,
 Managing Member

				
		 		 	By:	 	SRGNC Fremont Bayside Investors, L.P.,
 a Delaware limited
partnership,
 Managing Member

					
		 		 		 	By:	 	Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	Wagner Kroll Properties, Inc.,
 a California
corporation,
 General Partner

							
		 		 		 		 		 	By:	 	 
								
		 		 		 		 		 		 	Name:	  	 
		 		 		 		 		 		 	Title:	  	                       
                   

  

 EXHIBIT D2 

-6- 

 EXHIBIT A 

PROPERTY DESCRIPTION 
  

 EXHIBIT D2 

-7- 

 EXHIBIT E-1 

ASSIGNMENT AND ASSUMPTION OF LEASES AND CONTRACTS 

THIS ASSIGNMENT AND ASSUMPTION OF LEASES AND CONTRACTS (this “Assignment”) is executed as of the
     day of              , 2010 by and between RICHMOND PINOLE POINT INDUSTRIAL, LLC, a Delaware limited liability company, having an address do
Sares Regis Group, 18802 Bardeen Avenue, Irvine, California 92612 (“Assignor”) and [                    ], a
[                    ], having an address c/o
[                    ] (“Assignee”). 

WHEREAS, Assignee is this day purchasing from Assignor and Assignor is conveying to Assignee the Pinole Point Property (as such term is
described in that certain Contract of Sale dated as of                      between Assignor and Assignee (the “Purchase
Contract”). Capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Contract. 

WHEREAS, the Pinole Point Property is encumbered by those certain tenants (the “Tenants”) occupying space under the
leases listed and described on Exhibit A attached hereto (collectively, the “Tenant Leases”). 

WHEREAS, in connection with its ownership and management of the Pinole Point Property, Assignor has entered into those certain
maintenance, service and supply contracts and equipment leases, in effect on the date hereof, listed and described on Exhibit B attached hereto (collectively, the “Contracts”). 

WHEREAS, Assignor desires to transfer and assign to Assignee, and Assignee desires to assume as provided herein, all of Assignor’s
right, title and interest in and to the Tenant Leases and the Contracts. 
 NOW, THEREFORE, in consideration of Ten Dollars
($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Assignor hereby irrevocably transfers, sets over, conveys and assigns to Assignee all right, title and interest of Assignor in and to the Tenant Leases and the
Contracts, including all deposits made thereunder. 

  

	 	2.	Assignee hereby assumes all of Assignor’s obligations and liabilities under the Tenant Leases and the Contracts, first arising from and after the date hereof.

  

	 	3.	This Assignment and the obligations of the parties hereunder shall survive the closing of the transactions referred to in the Purchase Contract, and shall be binding
upon and inure to the benefit of the parties hereto, their respective legal representatives, successors and assigns. 

  

 EXHIBI E-1 

-1- 

	 	4.	If any action or proceeding is commenced by either party to enforce its rights under this Assignment, the substantially prevailing party in such action or proceeding
shall be awarded all reasonable costs and expenses incurred in such action or proceeding, including reasonable attorneys’ fees and costs (including the cost of in-house counsel and appeals), in addition to any other relief awarded by the court.

  

	 	5.	Nothing in this Assignment alters or amends any covenants, representations, warranties or indemnities set forth in the Purchase Contract, all of which shall be
independent of the terms and conditions of this Assignment. 

  

	 	6.	This Assignment may be executed in any number of counterparts, each of which may be executed by any one or more of the parties hereto, but all of which shall constitute
one and the same instrument, and shall be binding and effective when all parties hereto have executed and delivered at least one counterpart. 

  

	 	7.	This Assignment shall be governed by and construed in accordance with the laws of the State in which the Project Assets are located, and may not be modified or amended
except by written agreement signed by both Assignor and Assignee. 

  

	 	8.	The terms and provisions of this Assignment shall be binding upon and inure to the benefit of the respective parties hereto, and their respective successors and
assigns. 

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

															
		  	ASSIGNOR:
		
		  	RICHMOND PINOLE POINT INDUSTRIAL, LLC,
 a Delaware
limited liability company

			
		  	By:	  	Pinole Point Sares, LLC,
 a Delaware limited liability
company,
 Managing Member

				
		  		  	By:	  	SRGNC Pinole Investors, L.P.,
 a Delaware limited partnership,

 Managing Member

					
		  		  		  	By:	  	 Sares-Regis Group of Northern California, L.P.,

 

 EXHIBIT E-1 

-2- 

							
	 a California limited partnership,

General Partner

		
	By:	 	Wagner Kroll Properties, Inc.,
 a California corporation,

 General Partner

			
		 	By:	 	 
				
		 		 	Name:	 	  

		 		 	Title:	 	  

 

 EXHIBIT E-1 

-3- 

					
	ASSIGNEE:
	
	[                           
     ]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

 EXHIBIT E-1 

-4- 

 EXHIBIT A 

(List of Tenant Leases) 
  

 EXHIBIT E-1 

-5- 

 EXHIBIT B 

(List of Contracts) 
  

 EXHIBIT E-1 

-6- 

 EXHIBIT E-2 

ASSIGNMENT AND ASSUMPTION OF LEASES AND CONTRACTS 

THIS ASSIGNMENT AND ASSUMPTION OF LEASES AND CONTRACTS (this “Assignment”) is executed as of the
     day of                     , 2010 by and between FREMONT BAYSIDE INDUSTRIAL, LLC, a Delaware limited
liability company, having an address do Sares Regis Group, 18802 Bardeen Avenue, Irvine, California 92612 (“Assignor”) and
[                    ], a
[                    ], having an address c/o
[                    ] (“Assignee”). 

WHEREAS, Assignee is this day purchasing from Assignor and Assignor is conveying to Assignee the Fremont Property (as such term is
described in that certain Contract of Sale dated as of                      between Assignor and Assignee (the “Purchase
Contract”)). Capitalized terms not otherwise defined herein shall have the meaning set forth in the Purchase Contract. 

WHEREAS, the Fremont Property is encumbered by those certain tenants (the “Tenants”) occupying space under the leases
listed and described on Exhibit A attached hereto (collectively, the “Tenant Leases”). 
 WHEREAS, in
connection with its ownership and management of the Fremont Property, Assignor has entered into those certain maintenance, service and supply contracts and equipment leases, in effect on the date hereof, listed and described on Exhibit A
attached hereto (collectively, the “Contracts”). 
 WHEREAS, Assignor desires to transfer and assign to
Assignee, and Assignee desires to assume as provided herein, all of Assignor’s right, title and interest in and to the Tenant Leases and the Contracts. 

NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Assignor hereby irrevocably transfers, sets over, conveys and assigns to Assignee all right, title and interest of Assignor in and to the Tenant Leases and the
Contracts, including all deposits made thereunder. 

  

	 	2.	Assignee hereby assumes all of Assignor’s obligations and liabilities under the Tenant Leases and the Contracts first arising from and after the date hereof.

  

	 	3.	This Assignment and the obligations of the parties hereunder shall survive the closing of the transactions referred to in the Purchase Contract, and shall be binding
upon and inure to the benefit of the parties hereto, their respective legal representatives, successors and assigns. 

  

 EXHIBIT E-2 

-1- 

	 	4.	If any action or proceeding is commenced by either party to enforce its rights under this Assignment, the substantially prevailing party in such action or proceeding
shall be awarded all reasonable costs and expenses incurred in such action or proceeding, including reasonable attorneys’ fees and costs (including the cost of in-house counsel and appeals), in addition to any other relief awarded by the court.

  

	 	5.	Nothing in this Assignment alters or amends any covenants, representations, warranties or indemnities set forth in the Purchase Contract, all of which shall be
independent of the terms and conditions of this Assignment. 

  

	 	6.	This Assignment may be executed in any number of counterparts, each of which may be executed by any one or more of the parties hereto, but all of which shall constitute
one and the same instrument, and shall be binding and effective when all parties hereto have executed and delivered at least one counterpart. 

  

	 	7.	This Assignment shall be governed by and construed in accordance with the laws of the State in which the Project Assets are located, and may not be modified or amended
except by written agreement signed by both Assignor and Assignee. 

  

	 	8.	The terms and provisions of this Assignment shall be binding upon and inure to the benefit of the respective parties hereto, and their respective successors and
assigns. 

  

 EXHIBIT E-2 

-2- 

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

															
		  	ASSIGNOR:
		
		  	 FREMONT BAYSIDE INDUSTRIAL, LLC

a Delaware limited liability company

			
		  	By:	  	 Fremont Bayside Sares, LLC,

a Delaware limited liability company, Managing Member

				
		  		  	By:	  	 SRGNC Fremont Bayside Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		  		  		  	By:	  	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		  		  		  		  	By:	  	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		  		  		  		  		  	By:	  	  

								
		  		  		  		  		  		  	Name:	  	  

		  		  		  		  		  		  	Title:	  	  

  

 EXHIBIT E-2 

-3- 

			
	ASSIGNEE:
	
	[                           
     ]
		
	By:	 	  

		 	Name:
		 	Title:

  

 EXHIBIT E-2 

-4- 

 EXHIBIT A 

(List of Tenant Leases) 
  

 EXHIBIT E-2 

-5- 

 EXHIBIT B 

(List of Contracts) 
  

 EXHIBIT E-2 

-6- 

 EXHIBIT F-1 

BILL OF SALE AND GENERAL ASSIGNMENT 

THIS BILL OF SALE AND GENERAL ASSIGNMENT (this “Assignment”) is executed as of the      day
of                     , 2010 by RICHMOND PINOLE POINT INDUSTRIAL, LLC, a Delaware limited liability company, having an address c/o
Sares Regis Group, 18802 Bardeen Avenue, Irvine, California 92612 (“Assignor”) in favor of [                    ], a
[                    ], having an address c/o
[                    ] (“Assignee”). 

WHEREAS, Assignee is this day purchasing from Assignor and Assignor is conveying to Assignee the Pinole Point Property (as such term is
described in that certain Contract of Sale dated as of                      between Assignor and Assignee (the “Agreement”)).

 WHEREAS, Assignor desires to assign, transfer, setover and deliver to Assignee all of Assignor’s rights, if any, in and
to the Personal Property and the Intangible Property (as such terms are defined in the Agreement) (collectively, the “Assigned Properties”) to the extent assignable. 

NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Assignor hereby absolutely, unconditionally and irrevocably assigns, transfers, sets over and delivers to Assignee, its successors and assigns, all of Assignor’s
right, title and interest, if any, in and to the Assigned Properties. 

  

	 	2.	This Assignment is made without warranty, representation, or guaranty by, or recourse against Assignor of any kind whatsoever. 

 

	 	3.	This Assignment and the obligations of the parties hereunder shall survive the closing of the transactions referred to in the Agreement, and shall be binding upon and
inure to the benefit of the parties hereto, their respective legal representatives, successors and assigns. 

  

	 	4.	This Assignment may be executed in any number of counterparts, each of which may be executed by any one or more of the parties hereto, but all of which shall constitute
one and the same instrument, and shall be binding and effective when all parties hereto have executed and delivered at least one counterpart. 

  

	 	5.	This Assignment shall be governed by and construed in accordance with the laws of the State in which the Project Assets are located, and may not be modified or amended
except by written agreement signed by both Assignor and Assignee. 

  

 EXHIBIT F-1 

-1- 

	 	6.	If any action or proceeding is commenced by either party to enforce its rights under this Assignment, the substantially prevailing party in such action or proceeding
shall be awarded all reasonable costs and expenses incurred in such action or proceeding, including reasonable attorneys’ fees and costs (including the cost of in-house counsel and appeals), in addition to any other relief awarded by the court.

  

	 	7.	The terms and provisions of this Assignment shall be binding upon and inure to the benefit of the respective parties hereto, and their respective successors and
assigns. 

  

	 	8.	Nothing in this Assignment alters or amends any covenants, representations, warranties or indemnities set forth in the Agreement, all of which shall be independent of
the terms and conditions of this Assignment. 

 (Signatures Appear on Following Pages) 

 

 EXHIBIT F-1 

-2- 

 IN WITNESS WHEREOF, Assignor has caused this Assignment to be duly executed as of the day
and year first written above. 
  

															
		 	 RICHMOND PINOLE POINT INDUSTRIAL, LLC,

a Delaware limited liability company

			
		 	By:	  	 Pinole Point Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		  	By:	  	 SRGNC Pinole Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		 		  		  	By:	  	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		  		  		  	By:	  	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		  		  		  		  	By:	  	  

								
		 		  		  		  		  		  	Name:	  	  

		 		  		  		  		  		  	Title:	  	  

  

 EXHIBIT F-1 

-3- 

 EXHIBIT F-2 

BILL OF SALE AND GENERAL ASSIGNMENT 

THIS BILL OF SALE AND GENERAL ASSIGNMENT (this “Assignment”) is executed as of the      day
of         , 2010 by FREMONT BAYSIDE INDUSTRIAL, LLC, a Delaware limited liability company, having an address do Sares Regis Group, 18802 Bardeen Avenue, Irvine, California 92612
(“Assignor”) in favor of [                            ], a
[                        ], having an address c/o
[                            ] (“Assignee”). 

WHEREAS, Assignee is this day purchasing from Assignor and Assignor is conveying to Assignee the Fremont Property (as such term is
described in that certain Contract of Sale dated as of                      between Assignor and Assignee (the “Agreement”)).

 WHEREAS, Assignor desires to assign, transfer, setover and deliver to Assignee all of Assignor’s rights, if any, in and
to the Personal Property and the Intangible Property (as such terms are defined in the Agreement) (collectively, the “Assigned Properties”) to the extent assignable. 

NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Assignor hereby absolutely, unconditionally and irrevocably assigns, transfers, sets over and delivers to Assignee, its successors and assigns, all of Assignor’s
right, title and interest, if any, in and to the Assigned Properties. 

  

	 	2.	This Assignment is made without warranty, representation, or guaranty by, or recourse against Assignor of any kind whatsoever. 

 

	 	3.	This Assignment and the obligations of the parties hereunder shall survive the closing of the transactions referred to in the Agreement, and shall be binding upon and
inure to the benefit of Assignor and Assignee, their respective legal representatives, successors and assigns. 

  

	 	4.	This Assignment may be executed in any number of counterparts, each of which may be executed by any one or more of the parties hereto, but all of which shall constitute
one and the same instrument, and shall be binding and effective when all parties hereto have executed and delivered at least one counterpart. 

  

	 	5.	This Assignment shall be governed by and construed in accordance with the laws of the State in which the Assigned Properties are located, and may not be modified or
amended except by written agreement signed by both Assignor and Assignee. 

  

 EXHIBIT F-2 

-1- 

	 	6.	If any action or proceeding is commenced by either party to enforce its rights under this Assignment, the substantially prevailing party in such action or proceeding
shall be awarded all reasonable costs and expenses incurred in such action or proceeding, including reasonable attorneys’ fees and costs (including the cost of in-house counsel and appeals), in addition to any other relief awarded by the court.

  

	 	7.	The terms and provisions of this Assignment shall be binding upon and inure to the benefit of the respective parties hereto, and their respective successors and
assigns. 

  

	 	8.	Nothing in this Assignment alters or amends any covenants, representations, warranties or indemnities set forth in the Agreement, all of which shall be independent of
the terms and conditions of this Assignment. 

 (Signatures Appear on Following Pages) 

 

 EXHIBIT F-2 

-2- 

 IN WITNESS WHEREOF, Assignor has caused this Assignment to be duly executed as of the day
and year first written above. 
  

															
		 	ASSIGNOR:
		
		 	 FREMONT BAYSIDE INDUSTRIAL, LLC

a Delaware limited liability company

			
		 	By:	 	 Fremont Bayside Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		 	By:	 	 SRGNC Fremont Bayside Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	  

								
		 		 		 		 		 		 	Name:	 	  

		 		 		 		 		 		 	Title:	 	  

  

 EXHIBIT F-3 

-3- 

 EXHIBIT G-1 

CERTIFICATION OF NON-FOREIGN STATUS UNDER 

TREASURY REGULATIONS SECTION 1.1445-2(b) 

(NON-DISREGARDED ENTITY GRANTOR/TRANSFEROR) 

Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the
transferor is a foreign person. For U.S. tax purposes (including section 1445), the owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the property and not the disregarded
entity. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by RICHMOND PINOLE POINT INDUSTRIAL, LLC, a Delaware limited liability company (“Pinole”) the
undersigned hereby certifies the following on behalf of Pinole: 
 1. Pinole is not a foreign corporation, foreign partnership,
foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations); 
 2.
Pinole is not a disregarded entity as defined in § 1. 1445-2(b)(2)(iii); 
 3. Pinole’s U.S. employer identification
number is         ; and 
 4. Pinole’s office address is
                                . 

Pinole understands that this certification may be disclosed to the Internal Revenue Service by transferee and that any false statement
contained herein could be punished by fine, imprisonment, or both. 
 Under penalties of perjury I declare that I have examined
this certification and to the best of my knowledge and belief it is true, correct, and complete, and I further declare that I have authority to sign this document on behalf of Pinole. 

Dated:                     

  

 EXHIBIT G-1 

-1- 

															
		 	 RICHMOND PINOLE POINT INDUSTRIAL, LLC,

a Delaware limited liability company

			
		 	By:	 	 Pinole Point Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		 	By:	 	 SRGNC Pinole Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	  

								
		 		 		 		 		 		 	Name:	 	  

		 		 		 		 		 		 	Title:	 	  

  

 EXHIBIT G-1 

-2- 

 EXHIBIT G-2 

CERTIFICATION OF NON-FOREIGN STATUS UNDER 

TREASURY REGULATIONS SECTION 1.1445-2(b) 

(NON-DISREGARDED ENTITY GRANTOR/TRANSFEROR) 

Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the
transferor is a foreign person. For U.S. tax purposes (including section 1445), the owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the property and not the disregarded
entity. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by FREMONT BAYSIDE INDUSTRIAL, LLC, a Delaware limited liability company (“Fremont”) the
undersigned hereby certifies the following on behalf of Fremont: 
 1. Fremont is not a foreign corporation, foreign
partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations); 

2. Fremont is not a disregarded entity as defined in § 1. 1445-2(b)(2)(iii); 

3. Fremont’s U.S. employer identification number is         ; and 

4. Fremont’s office address is
                    . 

Fremont understands that this certification may be disclosed to the Internal Revenue Service by transferee and that any false statement
contained herein could be punished by fine, imprisonment, or both. 
 Under penalties of perjury I declare that I have examined
this certification and to the best of my knowledge and belief it is true, correct, and complete, and I further declare that I have authority to sign this document on behalf of Fremont. 

Dated:                     

  

 EXHIBIT G-2 

-1- 

															
		 	 FREMONT BAYSIDE INDUSTRIAL, LLC

a Delaware limited liability company

			
		 	By:	 	 Fremont Bayside Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		 	By:	 	 SRGNC Fremont Bayside Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	  

								
		 		 		 		 		 		 	Name:	 	  

		 		 		 		 		 		 	Title:	 	  

  

 EXHIBIT G-2 

-2- 

 EXHIBIT H-1 

(Form of Tenant Notice) 

RICHMOND PINOLE POINT INDUSTRIAL, LLC 

c/o Sares Regis Group, 

18802 Bardeen Avenue, Irvine, California 92612 

             , 2010 

 

			
	 By Certified Mail –

Return Receipt Requested
	 	
		
	                             
               	 	
		
	                             
               	 	
		
	                             
               	 	
		
	                             
               	 	

  

	Re:	Lease (the “Lease”) dated
                     between RICHMOND PINOLE POINT INDUSTRIAL, LLC (“Landlord”) and
                             encumbering certain real property known as
[                        ] (the “Property”) 

Ladies and Gentlemen: 
 Please
be advised that (1) Landlord has conveyed all of its right, title and interest in and to the Property, including its interest as landlord under the Lease, to
                                 (“Purchaser”), and
(2) Purchaser has assumed Landlord’s obligations under the Lease. 
 Accordingly, effective as of the date hereof, you
are hereby notified and directed to deliver all future rent and additional rent payments due under the Lease, and any notices, inquiries or requests relating thereto, to Purchaser at: 

 

					
		 	                             
                               	  	
			
		 	                             
                               	  	

  

 EXHIBIT H-1 

-1- 

 In addition, all security deposits held by Landlord, if any, together with any interest
earned thereon, have been transferred to Purchaser. 
  

															
		 	Very truly yours,
		
		 	 RICHMOND PINOLE POINT INDUSTRIAL, LLC,

a Delaware limited liability company

			
		 	By:	 	 Pinole Point Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		 	By:	 	 SRGNC Pinole Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	  

								
		 		 		 		 		 		 	Name:	 	  

		 		 		 		 		 		 	Title:	 	  

  

 EXHIBIT H-1 

-2- 

 EXHIBIT H-2 

(Form of Tenant Notice) 

FREMONT BAYSIDE INDUSTRIAL, LLC 

c/o Sares Regis Group, 

18802 Bardeen Avenue, Irvine, California 92612 

                 ,2010 

By Certified Mail - 
 Return
Receipt Requested 

                         
                    

                         
                    

                         
                    

                         
                    
  

	Re:	Lease (the “Lease”) dated
                     between FREMONT BAYSIDE INDUSTRIAL, LLC (“Landlord”) and
                             encumbering certain real property known as
[                                         
       ] (the “Property”) 

 Ladies and Gentlemen: 

Please be advised that (1) Landlord has conveyed all of its right, title and interest in and to the Property, including its interest
as landlord under the Lease, to
                                        
(“Purchaser”), and (2) Purchaser has assumed Landlord’s obligations under the Lease. 
 Accordingly,
effective as of the date hereof, you are hereby notified and directed to deliver all future rent and additional rent payments due under the Lease, and any notices, inquiries or requests relating thereto, to Purchaser at: 

                         
                                         
                                         
                              

                         
                                         
                                        
                               

 

 EXHIBIT H-2 

-1- 

 In addition, all security deposits held by Landlord, if any, together with
any interest earned thereon, have been transferred to Purchaser. 
  

															
		 		 	Very truly yours,
			
		 		 	 FREMONT BAYSIDE INDUSTRIAL, LLC

a Delaware limited liability company

			
		 	By:	 	 Fremont Bayside Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		 	By:	 	 SRGNC Fremont Bayside Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	  

								
		 		 		 		 		 		 	Name:	 	  

		 		 		 		 		 		 	Title:	 	  

  

 EXHIBIT H-2 

-2- 

 EXHIBIT I 

(Lease Exhibit) 

LIST OF LEASES: 

Pinole Point Assets 

Alan Ritchey, Inc. 

Lease between Landlord, Pinole Point Properties, Inc. & Tenant, Alan Ritchey, Inc. dated September
    , 1998 
 First Amendment – Lease between Landlord, Pinole Point Properties, Inc. &
Tenant, Alan Ritchey, Inc. dated April 19, 1999 
 Second Amendment – Lease between Landlord, Richmond Pinole Point
Industrial, LLC & Tenant Alan Ritchey, Inc. dated May 21, 2009 
 Security Deposit – None 

FBA Holdings, Inc. 

Lease between Landlord, PPBP II, LLC & Tenant, FBA Holdings, Inc. dated May 29, 2003 

First Amendment – Lease between Landlord, Richmond Pinole Point Industrial, LLC & Tenant, FBA Holdings, Inc. dated
June 30, 2008 
 Security Deposit – None 

International Delicacies, Inc. 

Lease between Landlord, Pinole Point Properties, Inc. & Tenant, International Delicacies, Inc. dated December 15, 2002

 First Amendment – Lease between Landlord, Richmond Pinole Point Industrial, LLC & Tenant, International
Delicacies dated June 30, 2008 
 Security Deposit – $13,500.00 

Broadline Medical Systems, Inc. 

Lease between Landlord, PPBP III, LLC & Tenant, Broadline Medical Systems, Inc. dated July 9, 2004 

 

 EXHIBIT I 

-1- 

 First Amendment – Lease between Landlord, PPBP III, LLC & Tenant, Broadline
Medical Systems, Inc. dated July 09,2004 
 Security Deposit – $12,213.00 cash and $73,278.00 in the form of a letter
of credit 
 Bio Rad Laboratories, Inc. 

Lease between Landlord, Richmond Pinole Point Industrial, LLC & Tenant, Bio Rad Laboratories, Inc. dated July 1, 2008

 Security Deposit – None 

Fremont Assets 

Super Micro Computer, Inc. 

Lease between Landlord, Pinole Point Properties, Inc. & Tenant, Super Micro Computer, Inc. dated February 22, 2008

 First Amendment – Lease between Landlord, Sares-Regis Group & Tenant, Super Micro Computer, Inc. dated
May 28, 2008 
 Security Deposit of $120,760.50 in the form of a Letter of Credit 

Pacific Bell Wireless, LLC 

Lease between Landlord, Pinole Point Properties, Inc. & Pacific Bell Wireless, LLC dated April 9, 2002 

Security Deposit – None 

TERMINATION NOTICES: 

None received 
  

 EXHIBIT I 

-2- 

 EXHIBIT J 

(Contracts) 
 Pinole Point
Assets 
 All contracts are terminable upon 30 days or less notice 

Fremont Assets 
 None 

 

 EXHIBIT J 

-1- 

 EXHIBIT K 

(List of Brokerage Agreements) 

Pinole Point Assets 
 Exclusive Leasing
Listing Agreement between Sares Regis Management Company and Colliers International dated April 10, 2009 
 Fremont Assets

 None 
  

 EXHIBIT K 

-1- 

 EXHIBIT L 

ESCROW AGREEMENT 

THIS ESCROW AGREEMENT (this “Agreement”), dated as of the 28th day of July, 2010, is among FIRST AMERICAN TITLE
INSURANCE COMPANY, (“Escrowee”), RICHMOND PINOLE POINT INDUSTRIAL, LLC, a Delaware limited liability company (“Pinole”), and FREMONT BAYSIDE INDUSTRIAL, LLC, a Delaware limited liability company
(“Fremont”), each having an address do Sares Regis Group, 18802 Bardeen Avenue, Irvine, California 92612 (individually, a “Seller”, and collectively, the “Sellers”), and ITT ACQUISITIONS LLC, a
Delaware limited liability company (“Purchaser”). 
 W I T N E S
S E T H 
 WHEREAS, Sellers and Purchaser entered into that certain Contract of Sale dated as of
July     , 2010, for the purchase and sale of the “Project Assets”, as more particularly described therein (hereinafter referred to as the “Contract”); 

WHEREAS, the Contract provides for the terms and conditions applicable to the sale and purchase of the Project Assets and the performance
obligations and rights of Sellers and Purchaser; and 
 WHEREAS, Sellers and Purchaser agree, pursuant to the Contract, that
Escrowee shall hold, in escrow the Deposit (capitalized terms not otherwise defined herein are defined pursuant to Paragraph 6 hereof) in accordance with the terms and conditions of the Contract and this Agreement. 

NOW, THEREFORE, the parties hereto agree as follows: 

1. Appointment of Agent. 

1.1 Purchaser and Sellers hereby appoint Escrowee to act as their escrow agent on the terms and conditions hereinafter set forth, and
Escrowee accepts such appointment. 
 1.2 Escrowee agrees to hold the Deposit on behalf of the parties to the Contract, and to
apply, disburse and deliver the Deposit as provided in the Contract and this Agreement. In the event of any conflict between the terms and conditions of the Contract and the terms or conditions of this Agreement, as to the obligations of Escrowee,
the terms and conditions of this Agreement shall govern and control. 
 2. Disposition of the Deposit. 

2.1 Escrowee shall hold the Deposit in insured money market accounts, certificates of deposit, United States Treasury Bills or such other
interest-bearing accounts as Purchaser may instruct from time to time. Escrowee shall not commingle the Deposit with any other funds. 
  

 EXHIBIT L 

-1- 

 2.2 Purchaser may, at any time on or before the expiration of the Due Diligence Period,
demand a return of the Deposit and Escrowee immediately shall return the Deposit to Purchaser, without the necessity of providing any notice to Sellers and without waiting 7 Business Days as provided in Section 2.3 below. 

2.3 If the Deposit has not been released earlier in accordance with Section 2.2, Escrowee shall pay the Deposit in accordance with
the terms of the Contract. If prior to the Closing, either party makes a demand upon Escrowee for delivery of the Deposit, Escrowee shall give notice to the other party of such demand. If a notice of objection to the proposed payment is not received
from the other party within seven (7) Business Days after the giving of notice by Escrowee, Escrowee is hereby authorized to deliver the Deposit to the party who made the demand. If Escrowee receives a notice of objection within said period,
then Escrowee shall continue to hold the Deposit and thereafter pay it to the party entitled when Escrowee receives (a) notice from the objecting party withdrawing the objection, or (b) a notice signed by both parties directing disposition
of the Deposit, or (c) a judgment or order of a court or arbitrator of competent jurisdiction. 
 2.4 Nothing in this
Section 2 shall have any effect whatsoever upon Escrowee’s rights, duties, and obligations under Section 3. 
 3.
Concerning Escrowee. 
 3.1 Escrowee shall be protected in relying upon the accuracy, acting in reliance upon the contents, and
assuming the genuineness of any notice, demand, certificate, signature, instrument or other document which is given to Escrowee without verifying the truth or accuracy of any such notice, demand, certificate, signature, instrument or other document;

 3.2 Escrowee shall not be bound in any way by any other contract or understanding between the Sellers and Purchaser, whether
or not Escrowee has knowledge thereof or consents thereto unless such consent is given in writing; 
 3.3 Escrowee’s sole
duties and responsibilities shall be to hold and disburse the Deposit in accordance with this Agreement and the Contract; provided, however, that Escrowee shall have no responsibility for the clearing or collection of the check representing the
Deposit; 
 3.4 Upon the disbursement of the Deposit in accordance with this Agreement, Escrowee shall be relieved and released
from any liability under this Agreement; 
 3.5 Escrowee may resign at any time upon at least ten (10) Business Days prior
written notice to the Sellers and Purchaser hereto. If, prior to the effective date of such resignation, the Sellers and Purchaser hereto shall have approved, in writing, a successor escrow agent, then upon the resignation of Escrowee, Escrowee
shall deliver the Deposit to such successor escrow agent. From and after such resignation and the delivery of the Deposit to such successor escrow agent, Escrowee shall be fully relieved of all of its duties, responsibilities and obligations under
this Agreement, all of which duties, responsibilities and obligations shall be 
  

 EXHIBIT L 

-2- 

 
performed by the appointed successor escrow agent. If for any reason Sellers and Purchaser shall not approve a successor escrow agent within such period, Escrowee may bring any appropriate action
or proceeding for leave to deposit the Deposit with a court of competent jurisdiction, pending the approval of a successor escrow agent, and upon such deposit Escrowee shall be fully relieved of all of its duties, responsibilities and obligations
under this Agreement; 
 3.6 Sellers and Purchaser hereby agree to, jointly and severally, indemnify, defend and hold harmless
Escrowee from and against any Claims by reason of Escrowee performing its obligations pursuant to, and in accordance with, the terms of this Agreement, but in no event shall Escrowee be indemnified for its negligence, willful misconduct or breach of
the terms of this Agreement; 
 3.7 In the event that a dispute shall arise in connection with this Agreement or the Contract,
or as to the rights of Sellers and Purchaser in and to, or the disposition of, the Deposit, Escrowee shall have the right to (w) hold and retain all or any part of the Deposit until such dispute is settled or finally determined by litigation,
arbitration or otherwise, or (x) deposit the Deposit in an appropriate court of law, following which Escrowee shall thereby and thereafter be relieved and released from any liability or obligation under this Agreement, or (y) institute an
action in interpleader or other similar action permitted by stakeholders in the State of California, or (z) interplead Sellers or Purchaser in any action or proceeding which may be brought to determine the rights of Sellers and Purchaser to all
or any part of the Deposit; and 
 3.8 Escrowee shall not have any liability or obligation for loss of all or any portion of the
Deposit by reason of the insolvency or failure of the institution of depository with whom the escrow account is maintained. 

4. Termination. 

This Agreement shall automatically terminate upon the delivery or disbursement by Escrowee of the Deposit in accordance with the terms of
the Contract and terms of this Agreement, as applicable. 
 5. Notices. 

All notices, requests or other communications which may be or are required to be given, served or sent by any party hereto to any other
party hereto shall be deemed to have been properly given, if in writing and shall be deemed delivered (a) upon delivery, if delivered in person or by facsimile transmission with receipt thereof confirmed by printed facsimile acknowledgment
(with a confirmation copy delivered in person or by overnight delivery), (b) one (1) Business Day after having been deposited for overnight delivery with any reputable overnight courier service, or (c) three (3) Business Days
after having been deposited in any post office or mail depository regularly maintained by the United States Postal Office and sent by registered or certified mail, postage paid, return receipt requested, and in each case, addressed as follows:

  

					
		  	To Sellers:	 	
		
		  	c/o J.P. Morgan Investment Management Inc.
		  	1999 Avenue of the Stars Suite 3200
		  	Los Angeles, CA 90067
		  	Attention: 	 	Michael Yoo
		  	Facsimile: 	 	(310) 860-7047
		  	Telephone: 	 	(310) 860-7104

  

 EXHIBIT L 

-3- 

					
		
		  	With a Copy To:
		  	 Richmond Pinole Point Industrial, LLC;

Fremont Bayside
 Industrial, LLC c/o J.P. Morgan
Investment Management Inc.

		  	P.O. Box 5005
		  	New York, New York 10163-5005
		
		  	With a Copy To:
		  	Stroock & Stroock & Lavan LLP
		  	2029 Century Park East, 16th Floor
		  	Los Angeles, CA 90067
		  	Attention: 	 	Stuart Graiwer, Esq.
		  	Facsimile: 	 	(310) 407-6483
		  	Telephone: 	 	(310) 556-5983
		
		  	With a Copy To:
		
		  	 Richmond Pinole Point Industrial, LLC; Fremont Bayside

Industrial, LLC c/o Sares Regis Group
 18802
Bardeen Avenue
 Irvine, CA 92612

		  	Attention: 	 	Mr. William J. Thormahlen
		  	 Facsimile:
	 	(949) 756-5955
		  	 Telephone:
	 	(949) 756-5959
		
		  	With a Copy To:
		
		  	 Allen Matkins Leck Gamble Mallory & Natsis LLP

1900 Main Street, 5th Floor
 Irvine, CA 92612

		  	 Attention:
	 	Richard E. Stinehart, Esq.
		  	Facsimile:	 	(949) 553-8354
		  	 Telephone:
	 	(949) 553-1313

  

 EXHIBIT L 

-4- 

					
		 	To Purchaser:
		
		 	c/o Industrial Income Trust Inc.
		 	518
17th Street,
17th Floor
		 	Denver, Colorado 80202
		 	Attention: 	 	Tom McGonagle
		 	Facsimile: 	 	(303)597-1561
		 	Telephone: 	 	(303)226-9891
		
		 	With a Copy To:
		
		 	 Joshua J. Widoff

General Counsel

		 	Industrial Income Trust Inc.
		 	518
17thStreet,17
th Floor
		 	Denver, Colorado 80202
		 	Facsimile: 	 	(303)869-4602
		 	Telephone: 	 	(303)869-4600
		
		 	With a Copy To:
		
		 	Brownstein Hyatt Farber Schreck
		 	410 17th
Street,22nd Floor

		 	Denver, Colorado 80202
		 	Attention: 	 	Robert Kaufmann
		 	Facsimile: 	 	(303)223-0976
		 	Telephone: 	 	(3 03)223-1 176
		
		 	To Escrowee:
		
		 	First American Title Insurance Company
		 	777 South Figueroa, Suite 400
		 	Los Angeles, California 90017
		 	Attention: 	 	Barbara Laffer
		 	Facsimile: 	 	(213) 405-5899
		 	Telephone: 	 	(213) 271-1712

 6. Capitalized Terms.

 Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Contract.

 7. Governing Law/Waiver of Trial by Jury. 

 

 EXHIBIT L 

-5- 

 THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF CALIFORNIA APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES OF SUCH STATE. TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY
ACTION OR PROCEEDING ARISING OUT OF OR IN CON1SECTION WITH THIS AGREEMENT. 
 8. Successors. 

This Agreement shall be binding upon and inure to the benefit of the respective successors and permitted assigns of the parties hereto;
provided, however, that except as expressly provided herein as to the Escrowee, this Agreement may not be assigned by any party without the prior written consent of the other parties. 

9. Entire Agreement. 

This Agreement, together with the Contract, contains the entire agreement and understanding between the parties hereto with respect to the
subject matter hereof and supersedes all prior agreements and understandings relating to such subject matter. 
 10. Amendments.

 Except as expressly provided in this Agreement, no amendment, modification, termination, cancellation, rescission or
supersession to this Agreement shall be effective unless it shall be in writing and signed by each of the parties hereto. 
 11.
Counterparts and/or Facsimile Signatures. 
 This Agreement may be executed in any number of counterparts, including counterparts
transmitted by facsimile, any one of which shall constitute an original of this Agreement. When counterparts or facsimile copies have been executed by all parties, they shall have the same effect as if the signatures to each counterpart or copy were
upon the same documents and copies of such documents shall be deemed valid as originals. The parties agree that all such signatures may be transferred to a single document upon the request of any party. This Agreement shall not be binding unless and
until it shall be fully executed and delivered by all parties hereto. In the event that this Agreement is executed and delivered by way of facsimile transmission, each party delivering a facsimile counterpart shall promptly deliver an ink-signed
original counterpart of the Agreement to the other party by overnight courier service; provided however, that the failure of a party to deliver an ink-signed original counterpart shall not in any way effect the validity, enforceability or binding
effect of a counterpart executed and delivered by facsimile transmission. 
 12. Severability. 

If any provision of the Agreement or the application of any such provision to any person or circumstance shall be held invalid, illegal,
or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision hereof. 

 

 EXHIBIT L 

-6- 

 IN WITNESS WHEREOF, the parties have executed and delivered this Escrow Agreement as of the
date and year first above written. 
  

																	
		 	FIRST AMERICAN TITLE INSURANCE COMPANY	 	
				
		 	By:	 	  
	 	
		 		 	Name:	 		 		 		 		 		 	
		 		 	Title:	 		 		 		 		 		 	
		
		 	 RICHMOND PINOLE POINT INDUSTRIAL, LLC,

a Delaware limited liability company

			
		 	By:	 	 Pinole Point Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		 	By:	 	 SRGNC Pinole Investors, L.P.,

a Delaware limited partnership,
 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	  

		 		 		 		 		 		 	Name:	 	  

		 		 		 		 		 		 	Title:	 	  

  

 EXHIBIT L 

-8- 

															
		 	 FREMONT BAYSIDE INDUSTRIAL, INC.

a Delaware limited liability company

			
		 	By:	 	 Fremont Bayside Sares, LLC,

a Delaware limited liability company,
 Managing
Member

				
		 		 	By:	 	 SRGNC Fremont Bayside Investors, LP.,

a Delaware limited partnership,
 Managing Member

					
		 		 		 	By:	 	 Sares-Regis Group of Northern California, L.P.,

a California limited partnership,
 General
Partner

						
		 		 		 		 	By:	 	 Wagner Kroll Properties, Inc.,

a California corporation,
 General
Partner

							
		 		 		 		 		 	By:	 	  

		 		 		 		 		 		 	Name:	 	  

		 		 		 		 		 		 	Title:	 	  

		
		 	 lIT ACQUISITIONS EEC,

a Delaware limited liability company

			
		 	 By:
	 	 ITT Real Estate Holdco LLC, its Sole Member

			
		 	 By:
	 	 Industrial Income Operating Partnership, LP, its Sole Member

					
		 		 		 		 	 By: Industrial Income Trust Inc., its General Partner

		 		 		 		 	  

		 		 		 		 		 	By:
[                            ]
		 		 		 		 		 	Name:
[                            ]
		 		 		 		 		 	Title:
[                            ]

 

 EXHIBIT L 

-9- 

 SCHEDULE 4.2 

(see attached) 
 Pinole
Point Assets 
 Reports Provided 

Title Report prepared by First American Title Insurance Company Order Number NCS-446634-CC 

Amended And Restated Declaration of Covenants, Conditions And Restrictions For The Pinole 

Point Business Park – Phases I And II prepared by Allen Matkins (Draft) 

Declaration of Covenants, Conditions and Restrictions For The Pinole Point Business Park 

prepared by Plageman, Lund & Miller LLP dated June 14, 2000 

ALTA / ACSM Land Title Survey prepared by Wilsey Ham dated May 2008 

Phase I Environmental Site Assessment prepared by Tetra Tech dated April 14, 2008 

Property Condition Assessment prepared by Marx Okubo Job No. 07-9378 dated March 6, 2008 

Geotechnical Exploration Pinole Point Business Park prepared by Engeo Inc Project No. 428 5-El dated April 23, 1997 

Ground Penetrating Radar Report prepared by Consolidated Engineering Laboratories dated April 16, 2008 

Exclusive Leasing Listing Agreement between SARES-REGIS Group and Colliers International dated April 10, 2009 

2009/2010 Storm Water Monitoring Report prepared by PES Environmental, Inc. dated July 15, 2010 

Provided 
 Leases, Amendments &
Subleases 
 Tenant Contact List 

Detailed Rent Roll (including expiration summary, security deposits, options, etc.) 

Historical Operating Statements (24 months) 

General and/or Tenant Ledgers (2008 & 2009 & YTD) 

Aged Receivables/Delinquency Report 
 Annual
Expense Reconciliation (current and prior year) 
 Current Budget & Variance Report 

Year-end Trial Balance 
 Capital
Expenditure/Major Repair Summary (24 months) 
 Property Condition Report from previous owner dated May 16, 2001 

Physical Conditional Assessment from previous owner dated October 18, 2000 

Seismic Risk Assessment from previous owner dated May 16, 2001 

Roof Survey from previous owner dated July 14, 2005 

Roof Report from previous owner dated April 17, 2002 
  

 EXHIBIT 4.2 

-1- 

 Buyer was given access to review files 

As-Built Drawings 
 Architectural Drawings

 Mechanical, Electrical, Plumbing, Sprinkler/Fire Protection Drawings and Specifications 

Certificates of Occupancy and/or Substantial Completion (shell & tenant) 

Governmental Permits, Notices, Reports, Citations, Compliance / Non-Compliance & Correspondence 

Documents from any Governmental authority pertaining to the property 

Annual Inspection Reports (elevator, HVAC, roof, fire pump, sprinkler) for last 24 months 

Recent Inspection Reports (fire department, building inspections, zoning, if applicable) 

Rent Commencement Letters 
 Tenant Correspondence

 Tenant Financial Statements 
 Capital
Expenditure/Major Repair Summary (24 months) 
 Service/Maintenance Contracts 

Vendor Contact List 
 Current Year Tax Valuation

 Tax Bills (previous two years) 

Tenant Insurance Certificates 
 Fremont
Assets 
 Provided Reports 

Title Report prepared by First American Title Insurance Company Order Number NCS-446633-CC 

Declaration of Covenants, Conditions, And Restrictions for Bayside Business Park Fremont, California dated January 15, 1986 

First Amendment to Declaration of Covenants, Conditions And Restrictions For Bayside Business Park Fremont, California dated April 23, 2004

 ALTA / ACSM Land Title Survey prepared by Kier & Wright Civil Engineers & Surveyors dated April 2008 

Phase I Environmental Site Assessment prepared by Tetra Tech dated May 30, 2008 

Workplan for Baseline Soil and Groundwater Survey For Bayside Business Park prepared by Tetra Tech dated May 14, 2008 

Focused Phase II Environmental Subsurface Investigation Summary Letter for Bayside Business Park prepared by Tetra Tech dated May 28, 2008

 Property Condition Assessment prepared by Marx Okubo Job No. 08-9035 dated May 30, 2008 

Ground Penetrating Radar Report prepared by Consolidated Engineering Laboratories 

Recoat Roofing Material Warranty number 05100604 by Resin Technology Company dated August 31, 2005 

 

 SCHEDULE 4.2 

-2- 

 Provided 

Leases, Amendments & Subleases 
 Tenant
Contact List 
 Detailed Rent Roll (including expiration summary, security deposits, options, etc.) 

Historical Operating Statements (24 months) 

General and/or Tenant Ledgers (2008 & 2009 & YTD) 

Aged Receivables/Delinquency Report 
 Annual
Expense Reconciliation (current and prior year) 
 Current Budget & Variance Report 

Year-end Trial Balance 
 Capital
Expenditure/Major Repair Summary (24 months) 
 Parking Variance Documents and Correspondence 

Building Improvement Summary from previous owner 

Roof Reports from previous owner 
 Moisture Vapor
Emission Reports from previous owner 
 Buyer was given access to review files 

As-Built Drawings 
 Architectural Drawings

 Mechanical, Electrical, Plumbing, Sprinkler/Fire Protection Drawings and Specifications 

Certificates of Occupancy and/or Substantial Completion (shell & tenant) 

Governmental Permits, Notices, Reports, Citations, Compliance / Non-Compliance & Correspondence 

Documents from any Governmental authority pertaining to the property 

Annual Inspection Reports (elevator, HVAC, roof, fire pump, sprinkler) for last 24 months 

Recent Inspection Reports (fire department, building inspections, zoning, if applicable) 

Rent Commencement Letters 
 Tenant Correspondence

 Tenant Financial Statements 
 Capital
Expenditure/Major Repair Summary (24 months) 
 Service/Maintenance Contracts 

Vendor Contact List 
 Current Year Tax Valuation

 Tax Bills (previous two years) 

Tenant Insurance Certificates 
  

 SCHEDULE 4.2 

-3- 

 SCHEDULE 11.23 

FORM OF AUDIT LETTER 

Ehrhardt Keefe Steiner &Hottman PC 
 7979 E.
Tufts Avenue, Suite 400 
 Denver, Colorado 80237-2843 

Re:
                                 [INSERT NAME OF PROPERTY – DO SEPARATE
LETTER FOR EACH SINCE DIFFERENT INFORMATION HAS BEEN PROVIDED FOR EACH] 
 Dear Gentlepersons: 

We are writing at your request to provide you with certain information you have requested in connection with the audit of the financial
books and records of the above-referenced property that you are conducting on behalf of lIT Acquisitions, LLC, the prospective buyer of this property. . Certain statements in this letter are described as being limited to matters that are
‘material.” Items are considered “material” if they involve an omission or misstatement of accounting information that, in light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on
the information would be significantly and adversely changed or significantly and negatively influenced by the omission or misstatement. 

The following statements are made exclusively to you, the auditor of the financial books and records of the above-referenced property,
and may not be relied upon by any other party. The provision of these statements and information to you is in no way intended to, nor shall it be deemed or construed to, limit or absolve, in any way, your company’s professional obligations to
independently audit the statements and information that has been provided to you and to reach your own conclusions regarding such statements and information. 

In connection with your proposed audit of the financial information we have made available to you in connection with the above-referenced
property, at your request, we confirm, to our actual knowledge, which is defined to mean to the knowledge of Andrea LeClaire, without any independent inquiry or investigation, the following: 

 

	 	1.	We have made available to you those financial records and related data concerning the above-referenced property which are responsive to the categories of information
you have requested, a list of which is attached hereto as Exhibit “A”. 

  

	 	2.	There are no material transactions that have not been reflected in the accounting records underlying the financial statements listed on Exhibit “A”.

  

 SCHEDULE 11.23 

-1- 

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 

 SCHEDULE 11.23 

-2- 

 EXHIBIT “A” 

 

	1.	Detailed trial balance from January 1, 2009 through December 31, 2009 and from January 1, 2010 through June 30, 2010 (Or end of appropriate
quarter), covering all (and only) the acquired property(s). 

  

	2.	General ledger detail from January 1, 2009 through December 31, 2009 and from January 1, 2009 through June 30, 2010, covering all (and only) the
acquired property(s). Further, please provide the general ledger showing July 2010 activity. 

  

	3.	Please provide rent rolls for January of 2009 through December of 2009 that capture all tenants who had rental activity during the year. 

 

	4.	Please provide a copy of the management agreement for the property manager in place during 2009. 

 

	5.	Please provide calculation supporting the annual management fee expense as called for in the property manager agreement. 

 

	6.	Please provide copies of real estate tax assessments for 2008 through 2010. 

 

	7.	Please provide calculation supporting the tax assessment expense for the year based on assessments for appropriate periods. 

 

	8.	Copy of insurance bill showing annual premium for the property. 

  

	9.	Copy of any bills for repairs and maintenance expense individually in excess of $5,000. 

 

	10.	We will select for further analysis, specific support for disbursements and/or expenses for examining the nature and timing of the expense. When selected, we will
inform you of the items selected and we will require documentation (invoices, check copies, journal entries, etc), in support of the expense. (selections to be based off General Ledger detail) 

 

	11.	In the case that the tenants of the property are charged for common area maintenance costs, please provide a schedule of the allocation of the costs to the tenants, if
you have prepared one and a reconciliation of costs incurred to costs allocated as of December 31, 2009. In addition, provide evidence of the occurrence of the reconciliation entry in the December 31, 2009 trial balances.

  

	12.	Please provide a copy of the leases for the tenants selected (selection to be based off rent rolls). 

 

	13.	We will select a sample of months for examining cash receipts. For months selected, please provide copies of all bank statements related to the activity of the
property(s) for 2009. If bank statements are not available, please provide evidence of receipt of the tenant rent paid for the same periods (for example, copies of lock box reports). We will select several tenants and determine through review of the
bank statements that rental payments in 2009 are consistent with the rental agreement. 

  

	14.	Please provide variance explanations for summary trial balance account level differences greater than 10% related to the following periods (a) year ended 12/31/08
vs 12/31/09 (b) annualized 6 months ended 6/30/10 vs year ended 12/31/09 (c) budget for year ended 12/31/09 vs year ended 12/31/09. 

  

 SCHEDULE 11.23 

-3-Agreement of Purchase and Sale, dated as of August 2, 2010

 Exhibit 10.10 

 
  

 
 AGREEMENT OF PURCHASE AND SALE

 BY AND BETWEEN 

THE REALTY ASSOCIATES FUND V, L.P. 

AND 

IIT ACQUISITIONS LLC 
  

			
	Date:	  	August 2, 2010
		
	Property:	  	8429, 8433, 8435 & 8457 Eastern Avenue
Bell Gardens, California

  

 
  

 AGREEMENT OF PURCHASE AND SALE 

THIS AGREEMENT OF PURCHASE AND SALE (the “Agreement”) is made and entered into as of the 2nd day of August, 2010,
by and between THE REALTY ASSOCIATES FUND V, L.P., a Delaware limited partnership (hereinafter referred to as “Seller”), and IIT ACQUISITIONS LLC, a Delaware limited liability company (hereinafter referred to as
“Purchaser”). 
 In consideration of the mutual promises, covenants and agreements hereinafter set forth and of
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows: 

ARTICLE I. 

Sale of Property 

1.1. Sale of Property. Seller hereby agrees to sell, assign and convey to Purchaser and Purchaser agrees to purchase from
Seller, all of Seller’s right, title and interest in and to, the following: 
 1.1.1. Land and
Improvements. Those certain parcels of real property, more particularly described on Exhibit A attached hereto and incorporated herein by reference thereto (the “Land”) together with all improvements located thereon
(the “Improvements”). 
 1.1.2. Leases. All leases, subleases, licenses and other
occupancy agreements, together with any and all amendments, modifications or supplements thereto and any guarantees thereof, hereinafter referred to collectively as the “Leases,” being more particularly described on
Exhibit E attached hereto, and all prepaid rent attributable to the period following the Closing, and subject to Section 4.2.4 below, the security deposits under such Leases (collectively, the “Leasehold
Property”). 
 1.1.3. Real Property. All rights, privileges and easements appurtenant to
Seller’s interest in the Land and the Improvements, if any, including, without limitation, all of Seller’s right, title and interest, if any, in and to all minerals, water and mineral and water rights and all easements, licenses, covenants
and other rights-of-way or other appurtenances used in connection with the beneficial use and enjoyment of the Land and the Improvements (the Land, the Improvements and all such easements and appurtenances are sometimes collectively referred to
herein as the “Real Property”). 
 1.1.4. Personal Property. All personal property
(including equipment), if any, owned by Seller and located on the Real Property as of the date hereof, all plans and specifications and as-built drawings for the Improvements and equipment in Seller’s possession or control, all inventory owned
by Seller, if any, located on the Real Property on the date of Closing (hereinafter defined), and all fixtures (if any) owned by Seller and located on the Real Property as of the date hereof (the “Personal Property”). 

 

 - 1 - 

 1.1.5. Intangible Property. All non-exclusive trademarks and
trade names, if any, used or useful in connection with the Real Property, but only to the extent that the same are not trademarks or trade names of Seller or any of Seller’s affiliated companies (collectively, the “Trade
Names”), together with the Seller’s interest, if any, in and to any service, equipment, supply and maintenance contracts described on Exhibit K attached hereto (the “Contracts”) which are considered Assigned
Contracts (as defined in Section 4.4) hereunder, guarantees, licenses, approvals, certificates, permits and warranties relating to the Real Property, to the extent assignable (collectively, the “Intangible Property”).
The Real Property, the Leasehold Property, the Personal Property, the Trade Names and the Intangible Property are sometimes collectively hereinafter referred to as the “Property.” 

1.2. Excluded Property. It is hereby acknowledged by the parties that Seller shall not convey to Purchaser claims relating
to (a) any real property tax refunds or rebates for periods prior to the Closing, (b) existing insurance claims, and (c) any existing claims against tenants of the Property, which claims shall be reserved by Seller. Claims reserved by
Seller against tenants shall be subject to Section 4.2 of this Agreement. 
 ARTICLE II. 

Purchase Price 

2.1. Purchase Price. The purchase price for the Property shall be FIFTEEN MILLION FIVE HUNDRED THOUSAND AND NO/100 DOLLARS
($15,500,000.00) (the “Purchase Price”). The Purchase Price, as adjusted by all prorations as provided for herein, shall be paid to Seller by Purchaser at Closing, as herein defined, by wire transfer of immediately available federal
funds. 
 ARTICLE III. 

Deposit 

3.1. Initial Deposit. Within two (2) business days after the Effective Date, as defined in Section 16.4 of
this Agreement and as a condition precedent to the formation of this Agreement, Purchaser shall deposit FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00) (the “Initial Deposit”) with Chicago Title Insurance Company, Suite 1700,
2001 Bryan Street, Dallas, Texas 75201, Attention: Ellen Schwab (the “Escrow Agent”) in immediately available federal funds, the receipt of which is hereby acknowledged by Escrow Agent’s execution hereof. If Purchaser shall
fail to deposit the Initial Deposit within the time period provided for above, Seller may at any time prior to the deposit of the 

 

 - 2 - 

 
Initial Deposit, terminate this Agreement, in which case this Agreement shall be null and void ab initio and in such event Escrow Agent shall immediately deliver to Seller all copies of
this Agreement in its possession and thereafter, neither party shall have any further rights or obligations to the other hereunder, except as otherwise set forth in this Agreement. As used herein, the term “Deposit” means the
Initial Deposit, together with all interest accrued thereon. 
 3.2. Application of Deposit. If the Closing
occurs, the Deposit shall be paid to Seller and credited against the Purchase Price at Closing. If the Closing does not occur in accordance with the terms hereof, the Deposit shall be held and delivered as hereinafter provided. 

3.3. Interest Bearing. The Deposit shall (i) be held in an interest-bearing escrow account by Escrow Agent in an
institution as directed by Purchaser and reasonably acceptable to Seller and (ii) include any interest earned thereon. To allow the interest bearing account to be opened, Purchaser’s and Seller’s tax identification or social security
numbers are set forth below their signatures. 
 3.4. Escrow Agent. Escrow Agent is executing this Agreement to
acknowledge Escrow Agent’s responsibilities hereunder, which may be modified only by a written amendment signed by all of the parties. Any amendment to this Agreement that is not signed by Escrow Agent shall be effective as to the parties
thereto, but shall not be binding on Escrow Agent. Escrow Agent shall accept the Deposit with the understanding of the parties that Escrow Agent is not a party to this Agreement except to the extent of its specific responsibilities hereunder, and
does not assume or have any liability of the performance or non-performance of Purchaser or Seller hereunder to either of them. Additional provisions with respect to the Escrow Agent are set forth in Article XVI. 

3.5. Independent Consideration. In addition to the Deposit, Purchaser has, concurrently with its execution hereof,
delivered to Seller a check in the amount of ONE HUNDRED AND NO/100 DOLLARS ($100.00) (the “Independent Contract Consideration”), which amount Seller and Purchaser agree has been bargained for as consideration for Seller’s
execution and delivery of this Agreement. The Independent Contract Consideration is in addition to and independent of any other consideration or payment provided for in this Agreement and is non-refundable in all events. 

ARTICLE IV. 

Closing, Prorations and Closing Costs 

4.1. Closing. The closing of the purchase and sale of the Property shall occur on or before 3:00 p.m. Eastern time on or
before Tuesday, August 17, 2010 and shall be held through escrow with Escrow Agent such that Seller, Purchaser and their attorneys need not be physically present and may deliver documents by overnight courier or other means.
“Closing” shall be deemed to have occurred when the Title Company has been instructed by both parties to release escrow and to record the Deed. Time is hereby made of the essence. The date of Closing is referred to in this Agreement
as the “Closing Date.” 
  

 - 3 - 

 4.2. Prorations. All matters involving prorations or adjustments to be made in
connection with Closing and not specifically provided for in some other provision of this Agreement shall be adjusted in accordance with this Section 4.2. Except as otherwise set forth herein, all items to be prorated pursuant to this
Section 4.2 shall be prorated as of midnight of the day immediately preceding the Closing Date, with Purchaser to be treated as the owner of the Property, for purposes of prorations of income and expenses, on and after the Closing Date.
 
 4.2.1. Taxes. Except to the extent payable directly by nondelinquent tenants under the
Leases, real estate and personal property taxes and special assessments, if any, shall be prorated as of the Closing Date. Seller shall pay all real estate and personal property taxes and special assessments attributable to the Property for the
period up to, but not including, the Closing Date. If the real estate and/or personal property tax rate and assessments have not been set for the year in which the Closing occurs, then the proration of such taxes shall be based upon the rate and
assessments for the preceding tax year and such proration shall be adjusted in cash between Seller and Purchaser upon presentation of written evidence that the actual taxes paid for the year in which the Closing occurs, differ from the amounts used
in the Closing in accordance with the provisions of Section 4.2.5 hereof. All taxes imposed due to a change of use of the Property after the Closing Date shall be paid by the Purchaser or by tenants pursuant to the Leases. Special
assessments for local improvements installed prior to the Effective Date shall be prorated at Closing to the extent not clearly payable by tenants pursuant to the Leases. If any taxes which have been apportioned shall subsequently be reduced by
abatement, the amount of such abatement, less the cost of obtaining the same and after deduction of sums payable to tenants under Leases or expired or terminated Leases, shall be equitably apportioned between the parties hereto. 

4.2.2. Insurance. There shall be no proration of Seller’s insurance premiums or assignment of
Seller’s insurance policies. Purchaser shall be obligated (at its own election) to obtain any insurance coverage deemed necessary or appropriate by Purchaser. 

4.2.3 Utilities. Purchaser and Seller hereby acknowledge and agree that the amounts of all telephone,
electric, sewer, water and other utility bills, trash removal bills, janitorial and maintenance service bills and all other operating expenses relating to the Property and allocable to the period prior to the Closing Date shall be determined and
paid by Seller before Closing, if possible, or shall be paid thereafter by Seller or adjusted between Purchaser and Seller immediately after the same have been determined. Seller shall attempt to have all utility meters read as of the Closing Date.
Purchaser shall cause all utility services not in the name of a tenant to be placed in Purchaser’s name as of the Closing Date. If permitted by the applicable utilities, all utility deposits in Seller’s name that are required to be
maintained after Closing shall be assigned to Purchaser as of the Closing Date and Seller shall receive a credit therefor at Closing. 
  

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 4.2.4. Rents. Rents (including, without limitation, estimated
pass-through payments, payments for common area maintenance reconciliations and all additional charges payable by tenants under the Leases, (collectively, “Rents”) collected by Seller prior to Closing shall be prorated as of the
Closing Date. During the period after Closing, Purchaser shall deliver to Seller Rents accrued but uncollected as of the Closing Date for the three (3) months prior to Closing, to the extent subsequently collected by Purchaser; provided,
however, Purchaser shall apply Rents received at or after Closing first to payment of Rents due for the month of the Closing, then to Rents due for periods from and after the Closing Date, and thereafter up to three (3) months of delinquent
Rents owed to Seller. Notwithstanding the foregoing, “true up” payments received from tenants attributable to a year-end reconciliation of actual and budgeted pass-through payments shall be allocated between Seller and Purchaser in
accordance with their respective period of ownership as set forth in Section 4.2.5 below. Seller shall have the right, after Closing, to proceed against tenants for Rents allocable to the period of Seller’s ownership of the
Property, so long as Seller takes no action that could result in termination of any Lease without the prior written consent of Purchaser in each instance, which may be withheld in Purchaser’s sole and absolute discretion. Purchaser agrees that
it shall use commercially reasonable efforts to collect all pass-through rents payable by tenants for the year of Closing and for any delinquent Rents for the three (3) months prior to Closing (provided, however, that Purchaser shall have no
obligation to institute legal proceedings, including an action for unlawful detainer, against a tenant owing delinquent Rents or to terminate any Lease). The amount of any unapplied security deposits under the Leases held by Seller in cash at the
time of Closing shall be credited against the Purchase Price; accordingly, Seller shall retain the actual cash deposits. If any deposits are in the form of a letter of credit or other non-cash security, Seller shall assign Seller’s interest, if
any, in and to any such deposit at Closing at no cost to Seller. 
 4.2.5. Calculations. For
purposes of calculating prorations, Purchaser shall be deemed to be in title to the Property, and, therefore entitled to the income therefrom and responsible for the expenses thereof for the entire day upon which the Closing occurs. All such
prorations shall be made on the basis of the actual number of days of the month which shall have elapsed as of the day of the Closing and based upon the actual number of days in the month and a three hundred sixty-five (365) day year. The
amount of such prorations shall be initially performed at Closing but shall be subject to adjustment in cash after the Closing as and when complete and accurate information becomes available, if such information is not available at the Closing.
Seller and Purchaser agree to cooperate and use their best efforts to make such adjustments no later than sixty (60) days after the Closing (or as soon thereafter as may be practicable, with respect to common area maintenance and other
additional rent charges (including pass-throughs for real estate and personal property taxes and special assessments) payable by tenants under leases). Except as set forth in this Section 4.2, all items of income and expense which accrue
for the period prior to the Closing will be for the account of Seller and all items of income and expense which accrue for the period on and after the Closing will be for the account of Purchaser. The provisions of Section 4.2 shall
survive the Closing. 
  

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 4.2.6. Leasing Commissions and Leasing Costs. Seller shall be
responsible for and shall pay at or before Closing, or shall escrow at Closing with Escrow Agent under escrow instructions reasonably acceptable to Purchaser, all leasing commissions and tenant improvement costs or allowances therefor due and
payable by the landlord with respect to Leases executed prior to the Effective Date, including without limitation, any leasing commissions earned but deferred as to payment and commissions, tenant improvements or other leasing costs payable for
lease renewals or extensions that a tenant has exercised under its existing Lease prior to the Effective Date. Purchaser shall be responsible for all leasing commissions and tenant improvement costs or allowances therefor attributable to any new
leases executed after the Effective Date and the renewal or expansion of any existing Lease exercised by the tenant or otherwise entered into after the Effective Date. If Seller has, prior to the Closing, paid any leasing commissions or other
leasing costs which are Purchaser’s responsibility hereunder, Seller will receive a credit for same from Purchaser at the Closing. 

4.2.7. Prepaid Items. Prepaid fees, if any, for licenses which are transferred to the Purchaser at the
Closing shall be apportioned between the Seller and the Purchaser at the Closing. 
 4.2.8. Declaration
Assessments. Any periodic assessments and other periodic charges paid by Seller under any private declaration affecting the Property shall be prorated between Seller and Purchaser at the Closing. 

4.2.9 Rent Credit. At Closing, Seller shall provide a credit to Purchaser against the Purchase Price in the
amount of $134,793.37, which amount represents the difference between the rent payable by HBD/Thermoid, Inc. under its lease and the amount of rent for its space for the balance of its lease term if such rent were equal to $0.40 per square foot per
month. If the Closing Date occurs after August 17, 2010, the amount of the credit shall be adjusted accordingly. 
 4.3.
Closing Costs. Seller shall pay the basic title premium for the Owner’s Policy, the County transfer tax payable upon the transfer of the Property and the cost of the Existing Survey (as hereinafter defined). Purchaser shall pay the
cost of any endorsements to the Owner’s Policy and the cost of the Survey and any update or other changes requested by Purchaser to the Survey, including the cost of any ALTA Table A items or other certifications. Purchaser shall also pay all
costs associated with Purchaser’s due diligence, except as otherwise set forth herein. Each party shall be responsible for its own attorney’s fees. Any fees or costs of Escrow Agent shall be shared equally between Purchaser and Seller.

  

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 4.4. Contracts. Unless Purchaser terminates this Agreement prior to the
expiration of the Feasibility Period, then on or before the expiration of the Feasibility Period, Purchaser shall provide Seller with written notice of the Contracts Purchaser elects to assume (the “Assigned Contracts”). If
Purchaser fails to deliver such assumption notice, then Purchaser shall be deemed to have elected to assume all of the Contracts. If Purchaser elects not to terminate this Agreement during the Feasibility Period, Purchaser acknowledges that Assigned
Contracts will include, regardless of whether listed in Purchaser’s assumption notice, all Contracts, if any, which are not terminable on thirty (30) or less days notice, without cause and without penalty or fee to Seller. Seller shall
deliver a termination notice at the Closing as to all Contracts not constituting Assigned Contracts, but Purchaser will be responsible for any charges due under such Contracts until the effective date of termination. Notwithstanding anything in this
Section 4.4 to the contrary, Seller agrees that all property management and leasing agreements entered into by Seller shall be terminated, effective as of the Closing Date, at the sole cost and expense of Seller. 

ARTICLE V. 

Purchaser’s Right of Inspection; Feasibility Period 

5.1. Right to Evaluate. Commencing on the Effective Date and continuing until 11:59 p.m. Pacific time on Tuesday,
August 10, 2010 (the “Feasibility Period”), Purchaser and its agents shall have the right during business hours (with reasonable advance notice to Seller and subject to the rights of the tenants in possession), at
Purchaser’s sole cost and expense and at Purchaser’s and its agents’ sole risk, to perform inspections and tests of the Property and to perform such other analyses, inquiries and investigations as Purchaser shall deem necessary or
appropriate; provided, however, that in no event shall (i) such inspections or tests unreasonably disrupt or disturb the on-going operation of the Property or the rights of the tenants at the Property, or (ii) Purchaser or
its agents or representatives conduct any physical testing, drilling, boring, sampling or removal of, on or through the surface of the Property (or any part or portion thereof) including, without limitation, any ground borings or invasive testing of
the Improvements (collectively, “Physical Testing”), without Seller’s prior written consent, which consent may be given or withheld in Seller’s sole and absolute discretion. In the event Purchaser desires to conduct any
such Physical Testing of the Property, then Purchaser shall submit to Seller, for Seller’s approval, a written detailed description of the scope and extent of the proposed Physical Testing, which approval may be given or withheld in
Seller’s sole and absolute discretion. If Seller does not approve the Physical Testing or approves only a portion thereof, Purchaser may, at its option, by sending written notice to Seller, elect to, either (i) terminate this Agreement or
(ii) conduct during the Feasibility Period that portion of the Physical Testing approved by Seller, if any, or if Seller disapproves the entire proposed Physical Testing, affirmatively agree to forego any Physical Testing of the Property. In
the event Purchaser terminates this Agreement as aforesaid, the Deposit shall be immediately refunded to Purchaser and this Agreement shall terminate and be of no further force and effect other than the Surviving Termination Obligations (as defined
in Section 16.12). In no event shall Seller be obligated as a 
  

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condition of this transaction to perform or pay for any environmental remediation of the Property recommended by any such Physical Testing. After making such tests and inspections, Purchaser
agrees to promptly restore the Improvements and surface of the Real Property to its condition prior to such tests and inspections (which obligation shall survive the Closing or any termination of this Agreement), provided, however that Purchaser
shall have no liability with respect to and no obligation to restore the Improvements or the Real Property to the extent of any damage or liability arising from the Purchaser Liability Exceptions (as hereinafter defined in Section 5.2),
so long as Purchaser takes reasonable steps not to exacerbate any condition giving rise to a Purchaser Liability Exception discovered by Purchaser. Prior to Purchaser entering the Property to conduct the inspections and tests described above,
Purchaser shall obtain and maintain, at Purchaser’s sole cost and expense, and shall deliver to Seller evidence of, the following insurance coverage, and shall cause each of its agents and contractors to obtain and maintain, and, upon request
of Seller, shall deliver to Seller evidence of, the following insurance coverage: commercial liability insurance, from an insurer reasonably acceptable to Seller, in the amount of One Million and No/100 Dollars ($1,000,000.00) combined single limit
for personal injury and property damage per occurrence ($2,000,000 in the aggregate), together with umbrella coverage of at least Five Million and No/100 Dollars ($5,000,000.00), such policy to name Seller as an additional insured party, which
insurance shall provide coverage against any claim for personal liability or property damage caused by Purchaser or its agents, employees or contractors in connection with such inspections and tests. Seller shall have the right, in its discretion,
to accompany Purchaser and/or its agents during any inspection (including, but not limited to, tenant interviews) provided Seller or its agents do not unreasonably interfere with Purchaser’s inspection. If Purchaser elects not to terminate this
Agreement during the Feasibility Period, Purchaser will continue to have access to the Property until Closing, including, without limitation, the right to permit Purchaser’s proposed lender to conduct a Phase I Environmental Site Assessment and
physical conditions assessment, and the right to perform analyses and inspections, subject in all respects to, and only as and to the extent permitted above in, this Article V. Purchaser has no right, express or implied, to terminate
this Agreement or receive back the Deposit based, directly or indirectly, on any tests, assessments, analyses or inspections conducted by or on behalf of Purchaser or Purchaser’s lender after the Feasibility Period. 

5.2. Inspection Obligations and Indemnity. Purchaser and its agents and representatives shall: (a) not unreasonably
disturb the tenants of the Improvements or unreasonably interfere with their use of the Real Property pursuant to their respective Leases; (b) not unreasonably interfere with the operation and maintenance of the Real Property; (c) not
damage any part of the Property or any personal property owned or held by any tenant; (d) not injure or otherwise cause bodily harm to Seller, its agents, contractors and employees or any tenant; (e) promptly pay when due the costs of all
tests, investigations and examinations done with regard to the Property; (f) not permit any liens to attach to the Property by reason of the exercise of its rights hereunder; (g) restore the Improvements and the surface of the Real
Property to the condition in which the same was found before any such inspection or tests were undertaken; (h) not reveal or disclose any information obtained 

 

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during the Feasibility Period concerning the Property to anyone outside Purchaser’s organization other than its Authorized Representatives (as defined in Section 15.1) or as
required to be disclosed by law or other regulatory or legal process; (i) not contact or otherwise interview any tenant except in the presence of Seller or one of Seller’s representatives, or except to the extent otherwise approved by
Seller, such approval not to be unreasonably withheld, conditioned or delayed; and (j) not contact any Federal, State or local governmental authority concerning the Property, other than standard requests for zoning, tax, utility service and
similar verification materials and standard requests as part of a customary Phase I environmental investigation. Purchaser shall, at its sole cost and expense, comply with all applicable federal, state and local laws, statutes, rules, regulations,
ordinances or policies in conducting its inspection of the Property and Physical Testing. Purchaser shall, and does hereby agree to indemnify, defend and hold the Seller, its partners, officers, directors, employees, agents, attorneys and their
respective successors and assigns, harmless from and against any and all claims, demands, suits, obligations, payments, damages, losses, penalties, liabilities, costs and expenses (including but not limited to attorneys’ fees) (collectively,
“Claims”) arising out of Purchaser’s or Purchaser’s agents’ actions taken in, on or about the Property in the exercise of the inspection right granted pursuant to Section 5.1, including, without
limitation, (i) claims made by any tenant against Seller for Purchaser’s entry into such tenant’s premises in a manner not permitted to Seller pursuant to such tenant’s lease or any interference with any tenant’s use or
damage to its premises or property in connection with Purchaser’s review of the Property, and (ii) violation of Purchaser’s obligations pursuant to this Section 5.2. Notwithstanding the foregoing, Purchaser shall have no
liability for any Claims related to (i) any loss, liability, cost or expense to the extent arising from, or related to, the negligent or willful acts or omissions of Seller or its representatives or any tenant of the Property, (ii) any
diminution in value of the Property arising from, or related to, matters discovered by Purchaser or its agents, employees or representatives during any inspections undertaken by Purchaser or its agents, employees or representatives in compliance
with the terms of this Agreement, but not otherwise, (iii) any latent defects in the Property discovered by Purchaser or its agents, employees or representatives during any inspections undertaken by Purchaser or its agents, employees or
representatives in compliance with the terms of this Agreement, but not otherwise, and/or (iv) any Hazardous Materials (as hereinafter defined in Section 7.1.11) or regulated substances which are discovered (but not deposited or
spread) in, on, under or about the Property by Purchaser or its agents, employees or representatives during any inspections undertaken by Purchaser or its agents, employees or representatives in compliance with the terms of this Agreement, but not
otherwise (collectively the “Purchaser Liability Exceptions”) so long as, in each case, Purchaser takes reasonable steps not to exacerbate any such condition discovered by Purchaser. This Section 5.2 shall survive the
Closing and/or any termination of this Agreement. 
 5.3. Seller Deliveries. Seller shall use its reasonable, good
faith efforts to deliver to Purchaser or make available at the Property, at Seller’s option, all of the items specified on Exhibit B attached hereto (the “Documents”) to the extent such items are in Seller’s
possession or control; provided, however, except as otherwise expressly set forth in Section  
  

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7.1 hereof, Seller makes no representations or warranties of any kind regarding the accuracy, thoroughness or completeness of or conclusions drawn in the information contained in such
documents, if any, relating to the Property. Purchaser hereby waives any and all claims against Seller arising out of the accuracy, completeness, conclusions or statements expressed in materials so furnished and any and all claims arising out of any
duty of Seller to acquire, seek or obtain such materials. Notwithstanding anything contained in the preceding sentence, Seller shall not deliver or make available to Purchaser Seller’s internal memoranda, attorney-client privileged materials,
roof or other physical inspection reports, internal appraisals and economic evaluations of the Property, and reports regarding the Property prepared by Seller or its affiliates solely for internal use or for the information of the investors in
Seller. Purchaser acknowledges that any and all of the Documents that are not otherwise known by or available to the public are proprietary and confidential in nature and will be delivered to Purchaser solely to assist Purchaser in determining the
feasibility of purchasing the Property. Purchaser agrees not to disclose such non-public Documents, or any of the provisions, terms or conditions thereof, to any party outside of Purchaser’s organization other than its Authorized
Representatives or as required to be disclosed by law or other regulatory or legal process. Purchaser shall return all of the Documents or certify to Seller its destruction thereof, on or before five (5) business days after the first to occur
of (a) such time as Purchaser notifies Seller in writing that it shall not acquire the Property, or (b) such time as this Agreement is terminated for any reason (other than due to Seller’s default or the Closing). This
Section 5.3 shall survive any termination of this Agreement for a period of two (2) years. 
 5.4.
Independent Examination. Purchaser hereby acknowledges that it has been, or will have been given, prior to the termination of the Feasibility Period, a full, complete and adequate opportunity to make such legal, factual and other
determinations, analyses, inquiries and investigations as Purchaser deems necessary or appropriate in connection with the acquisition of the Property. Purchaser is relying upon its own independent examination of the Property and all matters relating
thereto and not upon any statements of Seller (excluding the limited matters expressly represented by Seller in Article VII hereof, in the Deed and in the Non-Foreign Entity Certification (as defined in Section 11.2.5)) or of any
officer, director, employee, agent or attorney of Seller with respect to acquiring the Property. Seller shall not be deemed to have represented or warranted the completeness or accuracy of any studies, investigations and reports heretofore or
hereafter furnished to Purchaser. The provisions of this Section 5.4 shall survive Closing and/or termination of this Agreement. 

5.5. Termination Right. Purchaser shall have the right at any time during the Feasibility Period to terminate this
Agreement by written notice to Seller, in Purchaser’s sole and absolute discretion. Unless Purchaser provides written notice to Seller before the end of the Feasibility Period that Purchaser desires to proceed with this transaction, this
Agreement shall automatically terminate at the end of the Feasibility Period, subject to the Surviving Termination Obligations (as defined in Section 16.12 herein). In the event of termination under this Section 5.5, the
Deposit shall be delivered to Purchaser by Escrow Agent and thereupon neither party shall have any further rights or obligations to the other hereunder 

 

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other than the Surviving Termination Obligations. If Purchaser does timely notify Seller in writing of its election to proceed with this Agreement on or before the expiration of the Feasibility
Period, time being of the essence, Purchaser will have no further right to terminate this Agreement under this Section 5.5 and this Agreement shall continue in full force and effect. This is an “all or none” transaction and
Purchaser has no right to terminate this Agreement as to any part of the Property. 
 5.6. Copies of
Reports. As additional consideration for the transaction contemplated herein, Purchaser agrees that upon termination of this Agreement for any reason except for Seller’s default or Closing, it will provide to Seller, within five
(5) business days following a written request therefor, copies of any and all third
(3rd) party reports, tests or studies relating to the
Property in Purchaser’s possession, including but not limited to those involving environmental matters. Notwithstanding any provision of this Agreement, no termination of this Agreement shall terminate Purchaser’s obligations pursuant to
the foregoing sentence. Seller hereby waives and Purchaser disclaims any warranty or representation whatsoever by Purchaser with respect to the contents, accuracy or value of any such items delivered by Purchaser. 

ARTICLE VI. 

Title and Survey Matters 

6.1. Title. Purchaser hereby acknowledges receipt of a title insurance commitment (the “Commitment”) for
an Owner’s Policy of Title Insurance, issued by Chicago Title Insurance Company (the “Title Company”), covering the Real Property, together with a copy of all exceptions set forth therein. Purchaser shall notify Seller before
the expiration of the Feasibility Period in writing of any title exceptions identified in the Commitment which Purchaser reasonably disapproves. Any exception shown in the most recent Commitment in effect as of the end of the Feasibility Period
(whether or not previously objected to by Purchaser) shall be deemed approved by Purchaser and shall constitute a “Permitted Exception” hereunder. Purchaser and Seller hereby agree that (i) all non-delinquent property taxes and
assessments, (ii) the rights of the tenants under the Leases and Approved New Leases, (iii) all matters created by or on behalf of Purchaser, including, without limitation, any documents or instruments to be recorded as part of any
financing for the acquisition of the Property by Purchaser and (iv) the exceptions to title identified on Exhibit D attached hereto, shall constitute “Permitted Exceptions.” Notwithstanding anything to the contrary, any
mortgages or other monetary liens created by Seller against the Property shall not be Permitted Exceptions and shall be removed or terminated on or before Closing. Without Seller’s prior written consent, Purchaser shall not make any application
to any governmental agency for any permit, approval, license or other entitlement for the Property or the use or development thereof prior to Closing. If Purchaser elects to terminate this Agreement, Purchaser shall be responsible for any
cancellation fee due Title Company up to Five Hundred and No/100 Dollars ($500.00) as a result of the actions of Purchaser. 
  

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 6.2. Survey. Seller has provided Purchaser with a copy of Seller’s
existing survey of the Property (the “Existing Survey”). Purchaser shall have the right to request a new survey or an update to the Existing Survey (any such new or updated survey, the “Survey”) during the
Feasibility Period. If the Survey discloses any matters which are unacceptable to Purchaser, in Purchaser’s sole and absolute discretion, Purchaser shall notify Seller in writing no later than the expiration of the Feasibility Period. Any
survey matter shown on the Survey, or on the Existing Survey if a Survey is not obtained, as of the end of the Feasibility Period (whether or not previously objected to by Purchaser) shall be deemed approved by Purchaser and shall constitute a
Permitted Exception hereunder. 
 6.3 Cure of Title or Survey Matters. Seller may agree, prior to the end of the
Feasibility Period, at its sole election, to have any matters shown on the Commitment or any Survey or Existing Survey matters to which Purchaser has objected removed or insured over, if such insurance is acceptable in Purchaser’s sole and
absolute discretion, on or before the Closing Date; provided, however, in no event will Seller be obligated to do so or otherwise to incur costs with respect thereto in the absence of such an agreement. If Purchaser fails, for any or no reason, to
obtain the Survey, Purchaser will be deemed to have waived any requirement set forth in this Agreement regarding the Survey and all matters shown on the Existing Survey or which would be shown on a current survey of the Property had one been
obtained, shall also be considered “Permitted Exceptions.” 
 6.4. New Title Exceptions. If the
Commitment or Survey is updated after the Feasibility Period and reflects a new title or survey exception which would, in the reasonable opinion of a reasonably prudent investor, materially adversely affect title to the Property (a “New
Title Exception”), Purchaser shall, as long as such New Title Exception was not caused or created by Purchaser, have the right to object to same by delivery of written notice to Seller (the “New Title Objection Notice”) on
or before the earlier of the Closing Date or five (5) business days following the date Purchaser receives the updated Commitment or Survey. If Purchaser fails to timely deliver the New Title Objection Notice, Purchaser will be deemed to have
waived such New Title Exception and same will be considered a Permitted Exception hereunder. Seller has no obligation to cure any New Title Exception, but if Seller timely receives a New Title Objection Notice and fails to provide the Title Company
with such affidavits, indemnities, bonds or other assurances necessary for the Title Company to issue the Title Policy without exception for such New Title Exception, then Purchaser shall have the right to terminate this Agreement by delivery of
written notice to Seller and the Title Company on or before the Closing Date. If Purchaser timely delivers such termination notice, the Deposit shall be delivered to Purchaser and thereupon neither party shall, subject to the Surviving Termination
Obligations, have any further rights or obligations to the other hereunder. If Purchaser shall fail to timely notify Seller in writing of its election to terminate this Agreement on or before the Closing Date, time being of the essence, the
termination right described in this Section 6.4 shall be immediately null and void and of no further force or effect, the Closing will occur as scheduled and the Permitted Exceptions will include all uncured New Title Exceptions.

  

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 ARTICLE VII. 

Representations and Warranties of the Seller 

7.1. Seller’s Representations. Seller represents and warrants that the following matters are true and correct as of
the Effective Date and, as a condition of Closing, these matters will be true and correct at Closing. 

7.1.1. Authority. Seller is a limited partnership, duly organized, validly existing and in good standing
under the laws of the State of Delaware. This Agreement has been duly authorized, executed and delivered by Seller, is the legal, valid and binding obligation of Seller, and does not, to the best of Seller’s knowledge, violate any provision of
any agreement or judicial order to which Seller is a party or to which Seller or the Property is subject. All documents to be executed by Seller which are to be delivered at Closing, will at the time of Closing (i) be duly authorized, executed
and delivered by Seller, (ii) be legal, valid and binding obligations of Seller, and (iii) not violate, to the best of Seller’s knowledge, any provision of any agreement or judicial order to which Seller is a party or to which Seller
is subject. 
 7.1.2. Foreign Person; Prohibited Person. Seller is not a foreign person within the
meaning of Section 1445(f) of the Internal Revenue Code. Seller is not a Prohibited Person (as defined below). To the best of Seller’s knowledge, except for third-party persons who hold direct or indirect ownership interests in Seller,
none of its investors, affiliates or brokers or other agents (if any), acting or benefiting in any capacity in connection with this Agreement is a Prohibited Person. To the best of Seller’s knowledge, the Property is not the property of, or
beneficially owned by, a Prohibited Person. To the best of Seller’s knowledge, except for third-party persons who hold direct or indirect ownership interests in Seller, the Property is not the proceeds of specified unlawful activity as defined
by 18 U.S.C. §1956(c)(7). “Prohibited Person” means any of the following: (a) a person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, Executive Order No. 13224 on Terrorist
Financing (effective September 24, 2001) (the “Executive Order”); (b) a person or entity owned or controlled by, or acting for or on behalf of any person or entity that is listed in the Annex to, or is otherwise subject to the
provisions of, the Executive Order; (c) a person or entity that is named as a “specially designated national” or “blocked person” on the most current list published by the U.S. Treasury Department’s Office of Foreign
Assets Control (“OFAC”) at its official website, http://www.treas.gov/offices/enforcement/ofac; (d) a person or entity that is otherwise the target of any economic sanctions program currently administered by OFAC; or (e) a
person or entity that is affiliated with any person or entity identified in clause (a), (b), (c) and/or (d) above. 

7.1.3. No Default. The execution and delivery of this Agreement, and consummation of the transaction
described in this Agreement, will not, to the best of Seller’s knowledge, constitute a default under any contract, lease, or agreement to which Seller is a party and relating to the Property. 

 

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 7.1.4. No Suits; Compliance with Law. Except as disclosed in
the Documents, to the best of Seller’s knowledge, there is no action, suit or proceeding pending or threatened against Seller and affecting the Property, in any court or before or by and federal, state, or municipal department, commission,
board, bureau or agency or other governmental instrumentality. Except as disclosed in the Documents, to the best of Seller’s knowledge, Seller has received no written notice from any governmental authority of any material noncompliance of the
Property with applicable laws, rules or regulations. 
 7.1.5. No Bankruptcy. No petition in
bankruptcy (voluntary or otherwise), attachment, execution proceeding, assignment for the benefit of creditors, or petition seeking reorganization or insolvency, arrangement or other action or proceeding under federal or state bankruptcy law is
pending against or contemplated (or, to the best of Seller’s knowledge, threatened) by or against Seller or any general partner of Seller. 

7.1.6. Tenant Leases and Contracts. 

(a) To the best of Seller’s knowledge, Seller has provided or will provide Purchaser with access to complete copies
of all Leases and all amendments, guaranties and other documents relating thereto. To the best of Seller’s knowledge, the rent roll attached hereto as Exhibit E is the form of rent roll that Seller uses in the ordinary course of its
business with respect to the Property, but Seller does not warrant the accuracy of any information set forth therein. To the best of Seller’s knowledge, Seller has not entered into any Leases other than the Leases shown on the rent roll
attached hereto as Exhibit E. Except as disclosed in the Documents, to the best of Seller’s knowledge, Seller has not received from any tenant under a Lease at the Property any written notice to terminate the tenant’s Lease.

 (b) To the best of Seller’s knowledge, Seller has provided or will provide Purchaser with access to
complete copies of the Contracts. 
 (c) To the best of Seller’s knowledge, Seller has not entered into any
leasing commission agreements which would be binding upon Purchaser or the Property, except as shown on the list attached hereto as Exhibit L. 

7.1.7. Employees. There are no employees of Seller employed in connection with the use, management,
maintenance or operation of the Property whose employment will continue after the Closing Date. There is no bargaining unit or union contract relating to any employees of Seller. 

 

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 7.1.8. Hazardous Materials. Except as disclosed in the
Documents, to the best of Seller’s knowledge, Seller has not received written notice from any governmental authority alleging that the Property is not in full compliance with Environmental Laws (as defined below). “Environmental
Law” means any law, including requirements under permits, licenses, consents and approvals, relating to pollution or protection of human health or the environment, including those that relate to emissions, discharges, releases or threatened
releases, or the generation, manufacturing, processing, distribution, use, treatment, storage, disposal, transport, or handling, of Hazardous Materials. “Hazardous Materials” means those materials that are regulated by or form the
basis of liability under any Environmental Law, including: (a) any substance identified under any Environmental Law as a pollutant, contaminant, hazardous substance, liquid, industrial or solid or hazardous waste, hazardous material or toxic
substance; (b) any petroleum or petroleum derived substance or waste; (c) any asbestos or asbestos-containing material; (d) any polychlorinated biphenyl (PCB) or PCB-containing or urea-formaldehyde-containing material or fluid;
(e) any radioactive material or substance, including radon; (f) any lead or lead based paints or materials; and (g) any mold, fungi, yeast or other similar biological agents that may have an adverse effect on human health. 

7.2. Seller’s Knowledge. For purposes of this Agreement and any document delivered at Closing, whenever the phrases
“to the best of Seller’s knowledge”, “to the current, actual, conscious knowledge of Seller” or the “knowledge” of Seller or words of similar import are used, they shall be deemed to refer to the current, actual,
conscious knowledge only, and not any implied, imputed or constructive knowledge, without any independent investigation having been made or any implied duty to investigate, of David Buxbaum and James Harper and Seller represents that the foregoing
are those employees of TA Associates Realty with the responsibility for overseeing the sale, management and operation of the Property. Such individuals have no personal liability under this Agreement or otherwise with respect to the Property.

 7.3. Change in Representation/Waiver. Notwithstanding anything to the contrary contained herein, Purchaser
acknowledges that Purchaser shall not be entitled to rely on any representation made by Seller in this Article VII to the extent, prior to or at Closing, Purchaser shall have or obtain actual knowledge of any information that was
contradictory to such representation or warranty; provided, however, if Purchaser determines prior to Closing that there is a breach of any of the representations and warranties made by Seller above, then Purchaser may, at its option,
by sending to Seller written notice of its election either (i) terminate this Agreement or (ii) waive such breach and proceed to Closing with no adjustment in the Purchase Price and Seller shall have no further liability as to such matter
thereafter. In the event Purchaser terminates this Agreement for the reasons set forth above, the Deposit shall be immediately refunded to Purchaser, and neither Purchaser nor Seller shall thereafter have any other rights or remedies hereunder other
than under Section 16.12 hereof. In furtherance thereof, Seller shall have no liability with respect to any of the foregoing representations and warranties or any representations and warranties made in any other document executed and
delivered by Seller to Purchaser, to the extent that, prior to the Closing, Purchaser has actual knowledge of information (from whatever source, including, without limitation the property manager, the tenant estoppel certificates, as a result of

  

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Purchaser’s due diligence tests, investigations and inspections of the Property, or disclosure by Seller or Seller’s agents and employees) that contradicts any such representations and
warranties, or renders any such representations and warranties untrue or incorrect, and Purchaser nevertheless consummates the transaction contemplated by this Agreement. 

7.4. Survival. The express representations and warranties made in this Agreement by Seller shall not merge into any
instrument or conveyance delivered at the Closing; provided, however, that any action, suit or proceeding with respect to the truth, accuracy or completeness of such representations and warranties shall be commenced, if at all, on or
before the date that is nine (9) months after the Closing Date and, if not commenced on or before such date, thereafter shall be void and of no force or effect. 

ARTICLE VIII. 

Representations and Warranties of Purchaser 

8.1. Purchaser represents and warrants to Seller that the following matters are true and correct as of the Effective Date.
References to “Purchaser’s knowledge” or words of similar import herein or in the Closing Documents, shall mean only the current, actual conscious knowledge, and not any implied, imputed or constructive knowledge, without any
independent investigation having been made or any implied duty to investigate, of Tom McGonagle and Andrea Karp, who shall have no personal liability under this Agreement or otherwise with respect to this transaction or the Property. 

8.1.1 Authority. Purchaser is a limited liability company, duly organized, validly existing and in good
standing under the laws of the State of Delaware. This Agreement has been duly authorized, executed and delivered by Purchaser, is the legal, valid and binding obligation of Purchaser, and does not, to Purchaser’s knowledge, violate any
provision of any agreement or judicial order to which Purchaser is a party or to which Purchaser is subject. All documents to be executed by Purchaser which are to be delivered at Closing, at the time of Closing will be duly authorized, executed and
delivered by Purchaser, at the time of Closing will be legal, valid and binding obligations of Purchaser, and at the time of Closing will not violate, to Purchaser’s knowledge, any provision of any agreement or judicial order to which Purchaser
is a party or to which Purchaser is subject. 
 8.1.2. Bankruptcy or Debt of Purchaser. Purchaser
has not made a general assignment for the benefit of creditors, filed any voluntary petition in bankruptcy or suffered the filing of an involuntary petition by Purchaser’s creditors, suffered the appointment of a receiver to take possession of
all, or substantially all, of Purchaser’s assets, suffered the attachment or other judicial seizure of all, or substantially all, of Purchaser’s assets, admitted in writing its inability to pay its debts as they come due or made an offer
of settlement, extension or composition to its creditors generally. 
  

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 8.1.3. ERISA Compliance. Purchaser has informed Seller and
Purchaser hereby represents and warrants to Seller that, so long as the shares of Industrial Income Trust Inc. constitute publicly offered securities under applicable plan asset regulations, Purchaser is not a “plan” nor a plan
“fiduciary” nor an entity holding “plan assets” (as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended, and its applicable regulations as issued by the Department of Labor and the
Internal Revenue Service, “ERISA”) nor an entity whose assets are deemed to be plan assets under ERISA and that Purchaser is acquiring the Property for Purchaser’s own personal account and that, so long as the shares of
Industrial Income Trust Inc. constitute publicly offered securities under applicable plan asset regulations, the Property shall not constitute plan assets subject to ERISA upon conveyance of the Property by Seller and the closing of this Agreement
between Purchaser and Seller. Seller shall not have any obligation to close the transaction contemplated by this Agreement if the transaction for any reason constitutes a prohibited transaction under ERISA or if Purchaser’s representation is
found to be false or misleading in any respect. The foregoing representation and warranty shall survive the Closing. 

8.1.4. No Financing Contingency. It is expressly acknowledged by Purchaser that this transaction is not
subject to any financing contingency, and no financing for this transaction shall be provided by Seller. 

8.1.5. Prohibited Person. Purchaser is not a Prohibited Person. To Purchaser’s knowledge, except for
third-party persons who hold direct or indirect ownership interests in Purchaser, none of Purchaser’s affiliates or parent entities is a Prohibited Person. To Purchaser’s knowledge, except for third-party persons who hold direct or
indirect ownership interests in Purchaser, the Property is not the property of or beneficially owned by a Prohibited Person. To Purchaser’s knowledge, except for third-party persons who hold direct or indirect ownership interests in Purchaser,
the Property is not the proceeds of specified unlawful activity as defined by 18 U.S.C. § 1956(c)(7). 
 8.2.
Purchaser’s Acknowledgment. Purchaser acknowledges and agrees that, except as expressly provided in this Agreement or in the Deed, Seller has not made, does not make and specifically disclaims any representations, warranties,
promises, covenants, agreements or guaranties of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with respect to (a) the nature, quality or condition of the
Property, including, without limitation, the water, soil and geology, (b) the income to be derived from the Property, (c) the suitability of the Property for any and all activities and uses which Purchaser may conduct thereon, (d) the
compliance of or by the Property or its operation with any laws, rules, ordinances or regulations of any applicable governmental authority or body, including, without limitation, the Americans with Disabilities Act and any rules and regulations
promulgated thereunder or in connection therewith, (e) the habitability, merchantability or fitness for a particular purpose of the Property, or (f) any other matter with respect to the Property, and specifically that, except as provided
herein, Seller has not made, does not make and specifically disclaims any representations regarding solid waste, as defined by the U.S. Environmental Protection 

 

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Agency regulations at 40 C.F.R., Part 261, or the disposal or existence, in or on the Property, of any hazardous substance, as defined by the Comprehensive Environmental Response Compensation and
Liability Act of 1980, as amended, and all applicable state laws, and regulations promulgated thereunder. Purchaser further acknowledges and agrees that, except as expressly provided in this Agreement or in the Deed, having been given the
opportunity to inspect the Property, Purchaser is relying solely on its own investigation of the Property and not on any information provided or to be provided by Seller. Purchaser further acknowledges and agrees that any information provided or to
be provided with respect to the Property was obtained from a variety of sources and that Seller has not made any independent investigation or verification of such information. Purchaser further acknowledges and agrees that, except as expressly
provided in this Agreement or in the Deed, and as a material inducement to the execution and delivery of this Agreement by Seller, the sale of the Property as provided for herein is made on an “AS IS, WHERE IS” CONDITION AND BASIS
“WITH ALL FAULTS.” Purchaser acknowledges, represents and warrants that Purchaser is not in a significantly disparate bargaining position with respect to Seller in connection with the transaction contemplated by this Agreement; that
Purchaser freely and fairly agreed to this acknowledgment as part of the negotiations for the transaction contemplated by this Agreement; that Purchaser is represented by legal counsel in connection with this transaction and Purchaser has conferred
with such legal counsel concerning this waiver and that Purchaser has assets in excess of $5,000,000. Notwithstanding anything herein to the contrary, in no event shall Seller have any liability for any breach of a representation, warranty,
covenant and/or indemnity set forth herein or in any of the closing documents other than the Deed and the Non-Foreign Entity Certification in excess of Four Hundred Seventy One Thousand and No/100 Dollars ($471,000.00) in the aggregate for all
claims, including court costs and reasonable attorneys’ fees for enforcement. The provisions of this Section 8.2 shall survive Closing and/or termination of this Agreement. 

8.3. Purchaser’s Release. Purchaser on behalf of itself and its successors and assigns waives its right to recover
from, and forever releases and discharges, Seller, Seller’s affiliates, Seller’s investment manager, property manager, the partners, trustees, shareholders, beneficiaries, directors, officers, employees, attorneys and agents of each of
them, and their respective heirs, successors, personal representatives and assigns from any and all demands, claims, legal or administrative proceedings, losses, liabilities, damages, penalties, fines, liens, judgments, costs or expenses known or
unknown, foreseen or unforeseen, that may arise on account of or in any way be connected with (i) the physical condition of the Property, (ii) the condition of title to the Property, (iii) the presence on, under or about the Property
of any hazardous or regulated substance, (iv) the Property’s compliance with any applicable federal, state or local law, rule or regulation, or (v) any other aspect of the Property; provided, however, this release does not apply to
Seller’s breach of any of the representations and warranties of Seller set forth in Article VII or in the Deed or the Non-Foreign Entity Certification or Seller’s breach after Closing of any of the post-closing proration adjustment
provisions set forth in Article IV. 
  

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 PURCHASER HEREBY ACKNOWLEDGES THAT IT HAS READ AND IS FAMILIAR WITH THE PROVISIONS OF
CALIFORNIA CIVIL CODE SECTION 1542 (“SECTION 1542”), WHICH IS SET FORTH BELOW: 
 “A GENERAL RELEASE DOES
NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

 PURCHASER HEREBY WAIVES THE PROVISIONS OF SECTION 1542 SOLELY IN CONNECTION WITH THE MATTERS WHICH ARE THE SUBJECT OF
THE FOREGOING WAIVERS AND RELEASES. 
 The terms and provisions of this Section 8.3 shall survive Closing and/or termination of
this Agreement. 
 8.4. Survival. The express representations and warranties made in this Agreement by Purchaser
shall not merge into any instrument of conveyance delivered at the Closing; provided, however, that any action, suit or proceeding with respect to the truth, accuracy or completeness of all such representations and warranties (except for the
representation and warranty set forth in Section 8.1.3) shall be commenced, if at all, on or before the date that is six (6) months after the Closing Date and, if not commenced on or before such date, thereafter shall be void and of
no force or effect. The representation and warranty set forth in Section 8.1.3 hereof shall survive Closing and/or termination of this Agreement. 

8.5 Disclosure Statement. Seller may, but is not obligated to, deliver to Purchaser a Natural Hazard Disclosure Statement
(the “Statement”) in the form provided under California law. If Seller provides a Statement to Purchaser, the Statement will purport to disclose whether the Real Property is located in a special flood hazard area, a dam inundation
failure area, a high fire severity area, a wildland fire area, an earthquake fault zone and/or a seismic hazard area (collectively, the “Natural Hazard Areas”). Purchaser represents and warrants to Seller as follows:
(a) Purchaser and its agents are sophisticated investors in real estate and possess the expertise to assess whether the Real Property is located in any of the Natural Hazard Areas and the impact on Purchaser’s use, operation, development
and enjoyment of the Real Property if the Real Property is located in any of the Natural Hazard Areas, (b) prior to the last day of the Feasibility Period, independent of the Statement, Purchaser shall have determined whether the Real Property
is located in any of the Natural Hazard Areas and will have assessed the impact on Purchaser’s use, operation, development and enjoyment of the Real Property if the Real Property is located in any of the Natural Hazard Areas, and
(c) Purchaser is not relying on the Statement (if one is delivered) in consummating the transactions contemplated hereby. If Seller delivers a Statement to Purchaser, Purchaser agrees that Seller shall have no liability to Purchaser for any
errors or omissions in the Statement. Purchaser hereby waives any right it may have to receive a 
  

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Statement from Seller and such waiver includes any right Purchaser may have to terminate this Agreement as a result of any such failure under California Civil Code Section 1103.3 or
otherwise. Purchaser hereby releases Seller from any liability Seller may have to Purchaser as a result of Seller’s failure to deliver a Statement to Purchaser, including, without limitation, any damages recoverable under California Civil Code
Section 1103.13. The representations, warranties and agreements set forth herein shall survive the consummation of the transactions contemplated hereby. 

8.6 Section 25359.7 of Health and Safety Code. Section 25359.7 of the California Health and Safety Code requires
owners of non-residential real property who know, or have reasonable cause to believe, that any release of hazardous substance has come to be located on or beneath the real property to provide written notice of such to a buyer of the real property.
Purchaser acknowledges and agrees that the sole inquiry and investigation Seller has conducted in connection with the environmental condition of the Property is to obtain and/or review those certain environmental assessments and studies of the
Property delivered to Purchaser pursuant to this Agreement (collectively, “Seller’s Environmental Reports”). Purchaser (a) acknowledges Purchaser’s receipt of the foregoing notice given pursuant to
Section 25359.7 of the California Health and Safety Code; (b) will be, prior to the expiration of the Feasibility Period, fully aware of the matters described in the Seller’s Environmental Reports; and (c) after receiving advice
of Purchaser’s legal counsel, waives any and all rights Purchaser may have to assert that Seller has not complied with the requirements of Section 25359.7 of the California Health and Safety Code. The representations, warranties and
agreements set forth herein shall survive the consummation of the transactions contemplated hereby. 
 ARTICLE IX.

 Seller’s Interim Operating Covenants. 

9.1. Operations. Seller agrees to continue to operate, manage and maintain the Improvements through the Closing Date in the
ordinary course of Seller’s business, in accordance with Seller’s present practice, subject to ordinary wear and tear and further subject to Article XII of this Agreement. 

9.2. Maintain Insurance. Seller agrees to maintain until the Closing Date fire and extended coverage insurance on the
Property and liability insurance, which are at least equivalent in all material respects to the insurance policies covering the Real Property and the Improvements as of the Effective Date. 

9.3. Personal Property. Seller agrees not to transfer or remove any Personal Property from the Improvements after the
Effective Date except for repair or replacement thereof. Any items of Personal Property replaced after the Effective Date shall be promptly installed prior to Closing and shall be of substantially similar quality to the item of Personal Property
being replaced. 
  

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 9.4. No Sales. Except for the execution of tenant Leases pursuant to
Section 9.5, Seller agrees that it shall not convey or encumber any interest in the Property to any third party. 

9.5. Tenant Leases. Seller shall not, from and after the date which is five (5) business days prior to the expiration
of the Feasibility Period, (i) grant any consent or waive any material rights under the Leases, (ii) terminate any Lease, or (iii) enter into a new lease, modify an existing Lease or renew, extend or expand an existing Lease in each
case without the prior written approval of Purchaser (an “Approved New Lease”), which in each case shall not be unreasonably withheld, conditioned or delayed, and which shall be deemed granted if Purchaser fails to respond to a
request for approval within five (5) business days after receipt of the request therefor together with a summary of lease terms and credit information of the proposed tenant. In the event that Seller shall enter into, modify, renew, grant
concessions or terminate a Lease prior to the date which is five (5) business days prior to the expiration of the Feasibility Period, it shall promptly notify Purchaser in writing thereof and shall include a copy of such document entered into
by Seller by the date which is the earlier of (i) within five (5) business days of such occurrence or (ii) the expiration of the Feasibility Period. 

9.6 Contracts. Without Purchaser’s prior written approval, which shall not be unreasonably withheld, conditioned or
delayed, Seller shall not enter into any new (or extend, amend, renew or replace any existing) Contract affecting the Property or which would be binding upon Purchaser upon its acquisition of the Property; provided, however, (i) Seller may
enter into service or similar contracts without Purchaser’s approval if such contract is entered into in the ordinary course of Seller’s business and is terminable without penalty or premium on not more than 30 days notice from the owner
of the Property and is disclosed promptly in writing to Purchaser; and (ii) Seller may enter new Leases as provided in Section 9.5. 

ARTICLE X. 

Closing Conditions. 

10.1. Conditions to Obligations of Seller. The obligations of Seller under this Agreement to sell the Property and
consummate the other transactions contemplated hereby shall be subject to the satisfaction of the following conditions on or before the Closing Date except to the extent that any of such conditions may be waived by Seller in writing at Closing.

 10.1.1. Representations, Warranties and Covenants of Purchaser. All representations and
warranties of Purchaser in this Agreement shall be true and correct in all material respects as of the Closing Date, with the same force and effect as if such representations and warranties were made anew as of the Closing Date and Purchaser shall
have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by Purchaser prior to the Closing Date. 

 

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 10.2. Conditions to Obligations of Purchaser. The obligations of Purchaser
under this Agreement to purchase the Property and consummate the other transactions contemplated hereby shall be subject to the satisfaction of the following conditions on or before the Closing Date, except to the extent that any of such conditions
may be waived by Purchaser in writing at Closing. 
 10.2.1. Representations, Warranties and Covenants of
Seller. All representations and warranties of Seller in this Agreement or in the Closing Documents shall be true and correct in all material respects as of the Closing Date, with the same force and effect as if such representations and
warranties were made anew as of the Closing Date and Seller shall have performed and complied in all material respects with all covenants and agreements required by this Agreement to be performed or complied with by Seller prior to and on the
Closing Date. Notwithstanding the foregoing, no change in circumstances or status of the tenants (e.g., defaults, bankruptcies or other adverse matters relating to such tenant) occurring after the end of the Feasibility Period, shall permit
Purchaser to terminate this Agreement or constitute grounds for Purchaser’s failure to close in accordance with the terms hereof. 

10.2.2. Tenant Estoppels and SNDAs. Purchaser shall have received a Tenant estoppel certificate
substantially in the form attached hereto as Exhibit C (or, if different, the form and content required under the applicable Lease) from (a) Konoike – General, Inc., Kiwi Distributing, Inc., Energized Distribution, LLC, and
HBD/Thermoid, Inc. (the “Major Tenants”) or (b) such tenants who occupy at least eighty-five percent (85%) of the leased rentable square footage of the Property (“Required Estoppel Amount”); provided,
however, if Purchaser has not notified Seller in writing of the failure of the conditions set forth in this Section 10.2.2 prior to 5:00 p.m. Eastern time on that day that is three (3) Business Days prior to Closing, these
conditions shall be deemed satisfied. Notwithstanding the foregoing, at Seller’s sole option, Seller may extend the Closing Date for up to an additional thirty (30) days in order to satisfy the foregoing requirement in which event Seller
shall deliver notice of such extension to Purchaser not less than two (2) business days prior to the then existing Closing Date. In no event shall Seller be obligated to deliver updates to any of the tenant estoppel certificates, unless the
tenant estoppel certificate is dated more than thirty (30) days before the Closing Date. Seller will deliver Purchaser copies of the signed tenant estoppels promptly following Seller’s receipt and, if Purchaser fails to deliver a written
objection notice to Seller within three (3) business days following the date of delivery, such signed tenant estoppels will be deemed approved by Purchaser. Purchaser acknowledges that the tenants may use a form of tenant estoppel certificate
attached to their Lease or may modify the form attached hereto, and Purchaser agrees not to unreasonably withhold approval of such substitute or modified tenant estoppel certificate as 

 

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long as same complies with the estoppel requirements in the applicable Lease. Seller shall not be in default for failure to deliver any required tenant estoppel certificate, it being agreed that
Purchaser’s sole remedy for such failure shall be to terminate this Agreement and receive a refund of the Deposit. In addition, Seller shall use reasonable efforts to obtain and deliver to Purchaser promptly after receipt, a written estoppel
certificate from any owners’ association governing any of the Property or any party under a reciprocal easement agreement affecting the Property in substantially the form delivered by Purchaser to Seller during the Feasibility Period. The
signed certificates from such owners’ associations (or other entity) are collectively referred to herein as the “Other Estoppels.” Seller will deliver copies of the signed Other Estoppels to Purchaser promptly following
receipt. Purchaser agrees that neither Seller nor its property manager shall be required to incur any expense or liability nor shall Seller have any obligation to declare a default or otherwise threaten or pursue any remedy for the failure of any
association (or other entity) to deliver any Other Estoppel. Purchaser acknowledges and agrees that, notwithstanding anything herein to the contrary, the execution or delivery of any Other Estoppel shall not be a condition to Purchaser’s
obligation to proceed to the Closing nor shall the failure, for any or no reason, to receive any Other Estoppel entitle Purchaser to terminate this Agreement or receive back the Deposit. Seller shall require its property manager to request the
tenants to execute and deliver any subordination, non-disturbance and attornment agreements (each a “SNDA”) requested by Purchaser’s mortgage lender – it being agreed, however, that Seller or it property manager shall not
be required to incur any expense or liability nor shall Seller have any obligation to declare a default or otherwise threaten or pursue any remedy for a tenant’s failure to deliver any such SNDA. Purchaser acknowledges and agrees that,
notwithstanding anything herein to the contrary, the execution or delivery of any SNDA shall not be a condition to Purchaser’s obligation to proceed to the Closing nor shall the failure, for any or no reason, to receive any SNDA entitle
Purchaser to terminate this Agreement or receive back the Deposit. 
 10.2.3. Title Policy. Upon
recordation of the Deed and payment of the title insurance premiums, the Title Company shall be irrevocably committed to issue to Purchaser an Owner’s Policy of Title Insurance subject only to the Permitted Exceptions. 

10.2.4. Possession of the Property. Delivery by Seller of possession of the Property, subject to the
Permitted Exceptions and the rights of tenants under the Leases and Approved New Leases. 
 If any condition specified in this
Section 10.2 is not satisfied on or before the Closing Date through no breach by Purchaser, Purchaser may, at its option, and in its sole and absolute discretion, (a) waive any such condition which can legally be waived at the
Closing and proceed to Closing without adjustment or abatement of the Purchase Price, or (b) terminate this Agreement by written notice thereof to Seller, in which case the Deposit shall be returned to Purchaser, and Seller shall pay all of the
cancellation charges, if any, of Escrow Agent and Title Company. In addition to (and notwithstanding) the foregoing, if the failure of the condition is due to a breach by Seller hereunder, Buyer may pursue any of its remedies under
Section 13.1 or otherwise available under law or equity. 
  

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 ARTICLE XI. 

Closing 

11.1. Purchaser’s Closing Obligations. Purchaser, at its sole cost and expense, shall deliver or cause to be delivered
to Seller at Closing the following: 
 11.1.1. The Purchase Price, after all adjustments are made at the
Closing as herein provided, by wire transfer or other immediately available federal funds, which amount shall be received in escrow by the Title Company at or before 3:00 p.m. Eastern Time. 

11.1.2 A blanket conveyance and bill of sale, substantially in the form attached hereto as Exhibit G (the
“General Assignment”), duly executed by Purchaser, conveying and assigning to Purchaser the Personal Property, the Contracts, the records and plans, and the Intangible Property. 

11.1.3. Written notice addressed generally to all tenants of the Property executed by Purchaser
(i) acknowledging the sale of the Property to Purchaser, (ii) acknowledging that Purchaser has received and is responsible for any security deposits identified in the rent roll, and (iii) indicating that rent should thereafter be paid
to Purchaser and giving instructions therefor, substantially in the form attached hereto as Exhibit H. 

11.1.4. Evidence reasonably satisfactory to Seller and the Title Company that the person executing the Closing
Documents on behalf of Purchaser has full right, power and authority to do so. 
 11.1.5. A closing
statement duly executed by Purchaser setting forth the Purchase Price and any adjustments thereto. 

11.1.6. Such other documents as may be reasonably necessary or appropriate to effect the consummation of the
transactions which are the subject of this Agreement. 
 11.2. Seller’s Closing Obligations. Seller, at its
sole cost and expense, shall deliver or cause to be delivered to Purchaser the following: 

11.2.1. A grant deed (the “Deed”) in recordable form duly executed and acknowledged by
Seller conveying to Purchaser the Land and Improvements described on Exhibit A in fee simple, subject only to the Permitted Exceptions, substantially in the form attached hereto as Exhibit F. 

 

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 11.2.2. The General Assignment, duly executed by Seller, conveying
and assigning to Purchaser the Personal Property, the Contracts, the records and plans, and the Intangible Property. 

11.2.3. Written notice addressed generally to all tenants of the Property executed by Seller (i) acknowledging
the sale of the Property to Purchaser, (ii) acknowledging that Purchaser has received and is responsible for any security deposits identified in the rent roll, and (iii) indicating that rent should thereafter be paid to Purchaser,
substantially in the form attached hereto as Exhibit H. 
 11.2.4. Evidence reasonably
satisfactory to Purchaser and the Title Company that the person executing the Closing Documents on behalf of Seller has full right, power and authority to do so. 

11.2.5. A certificate duly executed by Seller substantially in the form attached hereto as Exhibit I
(“Non-foreign Entity Certification”) certifying that Seller is not a “foreign person” as defined in Section 1445 of the Internal Revenue Code of 1986, as amended. 

11.2.6. The following items, to the extent in Seller’s possession: (i) all keys and combinations to locks
for all doors and spaces which may be locked (whether occupied or not) in the Improvements; and (ii) all original (to the extent available, otherwise copies of) Leases, Contracts, permits, books, records, tenant files, tenant database,
operating reports, plans and specifications and other materials reasonably necessary to the continuity of operation of the Property – the foregoing items may be delivered at the Property and not at the Closing. 

11.2.7. A closing statement duly executed by Seller setting forth the Purchase Price and any adjustments thereto.

 11.2.8. A California Form 593-C duly executed by Seller, as and to the extent prescribed by California
law. 
 11.2.9. Such other documents as may be reasonably necessary or appropriate to effect the
consummation of the transactions which are the subject of this Agreement. 
  

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 ARTICLE XII. 

Risk of Loss. 

12.1. Condemnation and Casualty. If, on or prior to the Closing Date, all or any portion of the Property is taken by
condemnation or eminent domain, or is the subject of a pending taking which has not been consummated, or is destroyed or damaged by fire or other casualty, Seller shall notify Purchaser of such fact promptly after Seller obtains knowledge thereof.
If such condemnation or casualty is “Material” (as hereinafter defined), Purchaser shall have the option to terminate this Agreement upon notice to Seller given not later than fifteen (15) days after receipt of Seller’s
notice, or the Closing Date, whichever is earlier. If this Agreement is terminated, the Deposit shall be returned to Purchaser and thereafter neither Seller nor Purchaser shall have any further rights or obligations to the other hereunder except
with respect to the Surviving Termination Obligations. If this Agreement is not terminated, Seller shall not be obligated to repair any damage or destruction but (x) Seller shall assign, without recourse, and turn over to Purchaser all of the
insurance proceeds or condemnation proceeds, as applicable, net of any costs of repairs and net of reasonable collection costs actually incurred (or, if such have not been awarded, all of its right, title and interest therein) payable with respect
to such fire or other casualty or condemnation including any rent abatement or rent loss insurance for such casualty or condemnation and (y) the parties shall proceed to Closing pursuant to the terms hereof without abatement of the Purchase
Price except for a credit in the amount of the applicable insurance deductible. 
 12.2. Condemnation Not
Material. If the condemnation is not Material, then the Closing shall occur without abatement of the Purchase Price and, after deducting Seller’s reasonable costs and expenses actually incurred in collecting any award, Seller shall
assign, without recourse, all remaining awards or any rights to collect awards to Purchaser on the Closing Date. 
 12.3.
Casualty Not Material. If the Casualty is not Material, then the Closing shall occur without abatement of the Purchase Price except for a credit in the amount of the applicable deductible and Seller shall not be obligated to repair such
damage or destruction and Seller shall assign, without recourse, and turn over to Purchaser all of the insurance proceeds net of any costs of repairs and net of reasonable collection costs actually incurred (or, if such have not been awarded, all of
its right, title and interest therein) payable with respect to such fire or such casualty including any rent abatement insurance for such casualty. 

12.4. Materiality. For purposes of this Article XII (i) with respect to a taking by eminent domain, the term
“Material” shall mean any taking whatsoever, regardless of the amount of the award or the amount of the Property taken, excluding, however, any taking solely of (x) subsurface rights or takings for utility easements or right of
way easements, if the surface of the Property, after such taking, may be used in the same manner, as reasonably determined by Purchaser, as though such rights had not been taken, or (y) one lease of less than five percent (5%) of the
rentable square feet for a term of less than five years, and (ii) with respect to a casualty, the term “Material” shall mean any casualty such that the cost of repairs are greater than Four Hundred Fifteen Thousand and No/100
Dollars ($415,000.00). 
  

 - 26 - 

 ARTICLE XIII. 

Default 

13.1. Default by Seller. In the event the Closing and the transactions contemplated hereby do not occur as provided herein
by reason of the default of Seller, Purchaser may elect, as the sole and exclusive remedy of Purchaser, to (i) terminate this Agreement, receive the Deposit from the Escrow Agent, and in such event Seller shall not have any other liability
whatsoever to Purchaser hereunder other than with respect to the Surviving Termination Obligations, or (ii) enforce specific performance of Seller’s obligation to convey the Property, without adjustment to, or credit against the Purchase
Price except as provided for in this Agreement; provided, however, if Seller’s default hereunder makes specific performance of the Agreement unavailable (i.e., not merely impracticable or inconvenient) because Seller intentionally sold or
conveyed the Property to anyone other than Purchaser (or its permitted assignee) prior to Closing in breach of this Agreement, then, in addition to the return of the Deposit to Purchaser, Seller shall reimburse Purchaser for all third party costs
and expenses actually incurred by Purchaser in connection with this transaction, not to exceed $50,000 in the aggregate, and such return of the Deposit and reimbursement of costs and expenses to Purchaser shall be Purchaser’s sole and exclusive
remedies in connection with such default. Purchaser shall be deemed to have elected to terminate this Agreement (as provided in subsection (i) above) if Purchaser fails to deliver to Seller written notice of its intent to file a cause of action
for specific performance against Seller on or before fifteen (15) days after written notice of termination from Seller or fifteen (15) days after the originally scheduled Closing Date, whichever shall occur first, or having given Seller
notice, fails to file a lawsuit asserting such cause of action within sixty (60) days after the originally scheduled Closing Date. Notwithstanding the foregoing, nothing contained herein shall limit Purchaser’s remedies at law or in
equity, as to the Surviving Termination Obligations or Purchaser’s right to recover attorneys’ fees and expenses as provided in Section 16.16. 

13.2. Default by Purchaser. IN THE EVENT THE CLOSING AND THE TRANSACTIONS CONTEMPLATED HEREBY DO NOT OCCUR AS PROVIDED
HEREIN BY REASON OF ANY DEFAULT OF PURCHASER, PURCHASER AND SELLER AGREE IT WOULD BE IMPRACTICAL AND EXTREMELY DIFFICULT TO FIX THE DAMAGES WHICH SELLER MAY SUFFER. THEREFORE, PURCHASER AND SELLER HEREBY AGREE A REASONABLE ESTIMATE OF THE TOTAL NET
DETRIMENT SELLER WOULD SUFFER IN THE EVENT PURCHASER DEFAULTS AND FAILS TO COMPLETE THE PURCHASE OF THE PROPERTY IS AND SHALL BE, AS SELLER’S SOLE AND EXCLUSIVE REMEDY (WHETHER AT LAW OR IN EQUITY), A SUM EQUAL TO THE DEPOSIT. UPON SUCH DEFAULT
BY PURCHASER, SELLER SHALL HAVE THE RIGHT TO RECEIVE THE DEPOSIT FROM THE ESCROW AGENT AS ITS SOLE AND EXCLUSIVE REMEDY AND THEREUPON THIS AGREEMENT SHALL BE TERMINATED AND NEITHER SELLER NOR PURCHASER SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS
HEREUNDER EXCEPT WITH RESPECT TO THE 
  

 - 27 - 

 
SURVIVING TERMINATION OBLIGATIONS. THE AMOUNT OF THE DEPOSIT SHALL BE THE FULL, AGREED AND LIQUIDATED DAMAGES FOR PURCHASER’S DEFAULT AND FAILURE TO COMPLETE THE PURCHASE OF THE PROPERTY,
ALL OTHER CLAIMS TO DAMAGES OR OTHER REMEDIES BEING HEREBY EXPRESSLY WAIVED BY SELLER. THE PAYMENT OF THE DEPOSIT AS LIQUIDATED DAMAGES IS NOT INTENDED AS A FORFEITURE OR PENALTY WITHIN THE MEANING OF CALIFORNIA CIVIL CODE SECTIONS 3275 OR 3369, BUT
IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLER PURSUANT TO CALIFORNIA CIVIL CODE SECTIONS 1671, 1676 AND 1677. NOTWITHSTANDING THE FOREGOING, NOTHING CONTAINED HEREIN SHALL LIMIT SELLER’S REMEDIES AT LAW OR IN EQUITY AS TO THE SURVIVING
TERMINATION OBLIGATIONS. THE PARTIES HAVE SET FORTH THEIR INITIALS BELOW TO INDICATE THEIR AGREEMENT WITH THE LIQUIDATED DAMAGES PROVISION CONTAINED IN THIS SECTION. 

 

					
	/s/    JR	 		 	/s/    DM
	SELLER’S INITIALS	 		 	PURCHASER’S INITIALS

ARTICLE XIV. 

Brokers 

14.1. Brokers. Purchaser and Seller each represents and warrants to the other that it has not dealt with any person or
entity entitled to a brokerage commission, finder’s fee or other compensation with respect to the transaction contemplated hereby other than Eastdil Secured (“Broker”). Seller will be responsible for, and shall indemnify and
hold Purchaser harmless with respect to, the commission owed Broker. Broker shall be paid only upon the Closing of the purchase and sale contemplated hereby pursuant to a separate agreement. Purchaser hereby agrees to indemnify, defend, and hold
Seller harmless from and against any losses, damages, costs and expenses (including, but not limited to, attorneys’ fees and costs) incurred by Seller by reason of any breach or inaccuracy of the Purchaser’s (or its nominee’s)
representations and warranties contained in this Article XIV. Seller hereby agrees to indemnify, defend, and hold Purchaser harmless from and against any losses, damages, costs and expenses (including, but not limited to, attorneys’ fees
and costs) incurred by Purchaser by reason of any breach or inaccuracy of Seller’s representations and warranties contained in this Article XIV. Seller and Purchaser agree that it is their specific intent that no broker shall be a party
to or a third party beneficiary of this Agreement or the Deposit, that no broker shall have any rights or cause of action hereunder, and further that the consent of a broker shall not be necessary to any agreement, amendment, or document with
respect to the transaction contemplated by this Agreement. The provisions of this Article XIV shall survive the Closing and/or termination of this Agreement. 

 

 - 28 - 

 ARTICLE XV. 

Confidentiality 

15.1. Confidentiality. Purchaser expressly acknowledges and agrees that the transactions contemplated by this Agreement,
the Documents that are not otherwise known by or readily available to the public and the terms, conditions and negotiations concerning the same shall be held in the strictest confidence by Purchaser and shall not be disclosed by Purchaser except to
its legal counsel, surveyor, title company, broker, accountants, consultants, officers, partners, directors, managers, members and shareholders, prospective partners and any prospective lenders, prospective managers, financial partners or any other
persons acting by or for Purchaser and each of their respective agents, consultants and representatives (the “Authorized Representatives”), and except and only to the extent that such disclosure may be necessary for its performance
hereunder or required by law or other regulatory or legal process. Purchaser agrees that it shall instruct each of its Authorized Representatives to maintain the confidentiality of such information and at the request of Seller, to promptly inform
Seller of the identity of each such Authorized Representative. Purchaser further acknowledges and agrees that, unless and until the Closing occurs, all information and materials obtained by Purchaser in connection with the Property that are not
otherwise known by or readily available to the public will not be disclosed by Purchaser to any third persons (other than to its Authorized Representatives) without the prior written consent of Seller, except to the extent that such disclosure are
required by law or other regulatory or legal process, including, without limitation, applicable securities laws. If the transaction contemplated by this Agreement does not occur for any reason whatsoever, Purchaser shall promptly return to Seller,
and shall instruct its Authorized Representatives to return to Seller, all copies and originals of all Documents provided to Purchaser by Seller. Nothing contained in this Section 15.1 shall preclude or limit either party from disclosing
or accessing any information otherwise deemed confidential under this Section 15.1 in connection with the party’s enforcement of its rights following a disagreement hereunder or in response to lawful process or subpoena or other
valid or enforceable order of a court of competent jurisdiction or any filings with Authorities required by reason of the transactions provided for herein. The provisions of this Section 15.1 shall survive any termination of this
Agreement. 
 15.2. Post Closing Publication. Notwithstanding the foregoing, each party shall have the right to
announce the acquisition of the Property in newspapers and real estate trade publications (including “tombstones”) publicizing the purchase, provided that any public announcement of the transaction shall be made using only such information
as is customarily found in public announcements of such transactions. The provisions of this Section 15.2 shall survive Closing and/or any termination of this Agreement. 

 

 - 29 - 

 ARTICLE XVI. 

Miscellaneous 

16.1. Notices. Any and all notices, requests, demands or other communications hereunder shall be deemed to have been duly
given if in writing and if transmitted by hand delivery with receipt therefor, by electronic mail delivery of a PDF copy (with confirmation by hard copy), by overnight courier, or by registered or certified mail, return receipt requested, first
class postage prepaid (notices by facsimile shall not be effective until also delivered by another of the foregoing methods), addressed as follows (or to such new address as the addressee of such a communication may have notified the sender thereof)
(the date of such notice shall be the date of actual delivery to the recipient thereof): 
  

			
	To Purchaser:	  	ITT Acquisitions LLC
		  	c/o Industrial Income Trust Inc.
		  	518 17th Street, 17th Floor
		  	Denver, Colorado 80202
		  	Attention: Tom McGonagle
		  	Telephone: 303-226-9891
		  	Facsimile: 303-645-4501
		  	Email: tmcgonagle@industrialincome.com
		
	With copies to:	  	Joshua J. Widoff
		  	General Counsel
		  	Industrial Income Trust Inc.
		  	518 17th Street, 17th Floor
		  	Denver, Colorado 80202
		  	Telephone: 303-869-4600
		  	Facsimile: 303-869-4602
		  	Email: jwidoff@dividendcapital.com
		
		  	and
		
		  	Brownstein Hyatt Farber Schreck, LLP
		  	410
17th Street, Floor 22
		  	Denver, Colorado 80202
		  	Attn: Lynda A. McNeive
		  	Telephone: (303) 223-1129
		  	Fax No.: (303) 223-1111
		  	Email: lmcneive@bhfs.com

  

 - 30 - 

			
	To Seller:	  	c/o TA Associates Realty
		  	28 State Street, 10th Floor
		  	Boston, Massachusetts 02109
		  	Attn: David Buxbaum
		  	Telephone: (617) 476-2700
		  	Fax No.: (617) 476-2799
		  	Email: buxbaum@tarealty.com
		
	with copies to:	  	c/o TA Associates Realty
		  	1301 Dove Street, Suite 860
		  	Newport Beach, California 92660-2440
		  	Attn: James Harper
		  	Phone No.: (949) 852-2030
		  	Fax No.: (949) 852-2031
		  	E-mail: harper@tarealty.com
		
		  	and
		
		  	Stutzman, Bromberg, Esserman & Plifka,
		  	A Professional Corporation
		  	2323 Bryan Street, Suite 2200
		  	Dallas, Texas 75201
		  	Attn: Kenneth F. Plifka
		  	Phone: (214) 969-4900
		  	Fax No.: (214) 969-4999
		  	email: plifka@sbep-law.com
		
	To Escrow Agent:	  	Chicago Title Insurance Company
		  	2001 Bryan Street, Suite 1700
		  	Dallas, Texas 75201
		  	Attn: Ellen Schwab
		  	Telephone No.: (214) 965-1670
		  	Fax No.: (214) 965-1629
		  	Email: schwabe@ctt.com

 16.2.
Governing Law. This Agreement shall be governed by and construed in accordance with the internal, substantive laws of California, without regard to the conflict of laws principles thereof. 

16.3. Headings. The captions and headings herein are for convenience and reference only and in no way define or limit the
scope or content of this Agreement or in any way affect its provisions. 
  

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 16.4. Effective Date. This Agreement shall be effective upon delivery of this
Agreement fully executed by the Seller and Purchaser, which date shall be deemed the Effective Date hereof. Either party may request that the other party promptly execute a memorandum specifying the Effective Date. 

16.5. Business Days. If any date herein set forth for the performance of any obligations of Seller or Purchaser or for the
delivery of any instrument or notice as herein provided should be on a Saturday, Sunday or legal holiday, the compliance with such obligations or delivery shall be deemed acceptable on the next business day following such Saturday, Sunday or legal
holiday. As used herein, the term “legal holiday” means any state or Federal holiday for which financial institutions or post offices are generally closed in the state where the Property is located or the state where Escrow Agent is
located. 
 16.6. Counterpart Copies. This Agreement may be executed in two or more counterpart copies, all of
which counterparts shall have the same force and effect as if all parties hereto had executed a single copy of this Agreement. Executed copies hereof may be delivered by PDF or email, and, upon receipt, shall be deemed originals and binding upon the
parties hereto. Without limiting or otherwise affecting the validity of executed copies hereof that have been delivered by PDF or email, the parties will use their best efforts to deliver originals as promptly as possible after execution.

 16.7. Binding Effect. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and
their respective successors and assigns. 
 16.8. Assignment. Except to an affiliate of Purchaser, Purchaser shall
not have the right to assign the Agreement without Seller’s prior written consent, which consent may be given or withheld in Seller’s sole and absolute discretion. Purchaser shall in no event be released from any of its obligations or
liabilities hereunder as a result of any assignment. Purchaser shall have the right to assign this Agreement to a Section 1031 exchange intermediary subject to the terms of Section 16.20 hereof. Whenever reference is made in this
Agreement to Seller or Purchaser, such reference shall include the successors and assigns of such party under this Agreement. 

16.9. Interpretation. This Agreement shall not be construed more strictly against one party than against the other merely
by virtue of the fact that it may have been prepared by counsel for one of the parties, it being recognized that both Seller and Purchaser have contributed substantially and materially to the preparation of this Agreement. 

16.10. Entire Agreement. This Agreement and the Exhibits attached hereto contain the final and entire agreement between the
parties hereto with respect to the sale and purchase of the Property and are intended to be an integration of all prior negotiations and understandings. Purchaser, Seller and their agents shall not be bound by any terms, conditions, statements,
warranties or representations, oral or written, not contained herein. No change or modifications to this Agreement shall be valid unless the same is in writing 

 

 - 32 - 

 
and signed by the parties hereto. Each party reserves the right to waive any of the terms or conditions of this Agreement which are for their respective benefit and to consummate the transaction
contemplated by this Agreement in accordance with the terms and conditions of this Agreement which have not been so waived. Any such waiver must be in writing signed by the party for whose benefit the provision is being waived. 

16.11. Severability. If any provision of this Agreement is determined to be unenforceable, such provision shall be reformed
and enforced to the maximum extent permitted by Law. If it cannot be reformed, it shall be stricken from and construed for all purposes not to constitute a part of this Agreement, and the remaining portions of this Agreement shall remain in full
force and effect and shall, for all purposes, constitute this entire Agreement. 
 16.12. Survival. Except as
otherwise specifically provided for in Sections 5.1, 5.2, 5.3, 5.4, 7.3, 7.4, 8.2, 8.3, 12.1, 14, 15.1, 16.15, 16.16, 16.20, 16.21 and any other
provision of this Agreement which requires observance or performance after Closing, whether or not there is an express survival provision (collectively, the “Surviving Termination Obligations”), the provisions of this Agreement and
the representations and warranties herein shall not survive after the conveyance of title and payment of the Purchase Price but be merged therein. 

16.13. Exhibits. Exhibits A through L attached hereto are incorporated herein by reference. 

16.14. Time. Time is of the essence in the performance of each of the parties’ respective obligations contained
herein. 
 16.15. Limitation of Liability. The obligations of Seller are binding only on Seller’s interest in
the Property (including the proceeds of sale) and shall not be personally binding upon, nor shall any resort be had to, any other assets of Seller nor the private properties of any of the partners, officers, directors, shareholders or beneficiaries
of Seller, or of any partners, officers, directors, shareholders or beneficiaries of any partners of Seller, or of any of Seller’s employees or agents. All documents to be executed by Seller shall also contain the foregoing exculpation. The
provisions of this Section 16.15 shall survive Closing and/or any termination of this Agreement. 
 16.16.
Prevailing Party. Should either party employ an attorney to enforce any of the provisions hereof (whether before or after Closing, and including any claims or actions involving amounts held in escrow), the non-prevailing party in any
final judgment agrees to pay the other party’s reasonable expenses, including reasonable attorneys’ fees and expenses in or out of litigation and, if in litigation, trial, appellate, bankruptcy or other proceedings, expended or incurred in
connection therewith, as determined by a court of competent jurisdiction. The provisions of this Section 16.16 shall survive Closing and/or any termination of this Agreement. 

 

 - 33 - 

 16.17. Escrow Agreement. 

16.17.1. Instructions. Purchaser and Seller each shall promptly deposit a copy of this Agreement executed by
such party (or either of them shall deposit a copy executed by both Purchaser and Seller) with Escrow Agent, and, upon receipt of the Deposit from Purchaser, Escrow Agent shall immediately execute this Agreement where provided below. This Agreement,
together with such further instructions, if any, as the parties shall provide to Escrow Agent by written agreement or as instructions for Closing, shall constitute the escrow instructions. If any requirements relating to the duties or obligations of
Escrow Agent hereunder are not acceptable to Escrow Agent, or if Escrow Agent requires additional instructions, the parties hereto agree to make such deletions, substitutions and additions hereto as counsel for Purchaser and Seller shall mutually
approve, which additional instructions shall not substantially alter the terms of this Agreement unless otherwise expressly agreed to by Seller and Purchaser. 

16.17.2. Real Estate Reporting Person. Escrow Agent is hereby designated the “real estate reporting
person” for purposes of Section 6045 of Title 26 of the United States Code and Treasury Regulation 1.6045-4 and any instructions or settlement statement prepared by Escrow Agent shall so provide. Upon the consummation of the transaction
contemplated by this Agreement, Escrow Agent shall file Form 1099 information return and send the statement to Seller as required under the aforementioned statute and regulation, and Escrow Agent shall make any filings required in connection with
California Form 593-C. Seller and Purchaser shall promptly furnish their federal tax identification numbers to Escrow Agent and shall otherwise reasonably cooperate with Escrow Agent in connection with Escrow Agent’s duties as real estate
reporting person. 
 16.17.3. Liability of Escrow Agent. The parties acknowledge that the Escrow
Agent shall be conclusively entitled to rely, except as hereinafter set forth, upon written instruction from Purchaser or Seller as to how the Deposit (which, for purposes of this Section shall be deemed to also include any other escrowed funds held
by the Escrow Agent pursuant to this Agreement) should be disbursed. Any notice sent by Seller or Purchaser (the “Notifying Party”) to the Escrow Agent shall be sent simultaneously to the other noticed parties pursuant to
Section 16.1 herein (the “Notice Parties”). Notice by either party may be given by its attorneys. If the Notice Parties do not object to the Notifying Party’s notice to the Escrow Agent within ten (10) days
after the Notice Parties’ receipt of the Notifying Party’s written instructions to the Escrow Agent, the Escrow Agent shall be able to rely on the same. If the Notice Parties send, within such ten (10) days, written notice to the
Escrow Agent disputing the Notifying Party’s certificate, a dispute shall exist and the Escrow Agent shall hold the Deposit as hereinafter provided. The parties hereto hereby acknowledge that Escrow Agent shall have no liability to any party on
account of Escrow Agent’s failure to disburse the Deposit if a dispute shall have arisen with respect to the propriety of such disbursement and, in the event of any dispute as to who is entitled to receive the Deposit, disburse them in
accordance with the final order of a court of competent 
  

 - 34 - 

 
jurisdiction, or to deposit or interplead such funds into a court of competent jurisdiction pending a final decision of such controversy. The parties hereto further agree that Escrow Agent shall
not be liable for failure of any depository and shall not be otherwise liable except in the event of Escrow Agent’s gross negligence or willful misconduct. The Escrow Agent shall be reimbursed on an equal basis by Purchaser and Seller for any
reasonable expenses incurred by the Escrow Agent arising from a dispute with respect to the Deposit. The obligations of Purchaser and Seller, respectively, with respect to the Escrow Agent are intended to be binding only on such party and its assets
and shall not be personally binding upon, nor shall any resort be had to, the private properties of any of the partners, officers, directors, shareholders or beneficiaries of such party, or of any partners, officers, directors, shareholders or
beneficiaries of any partners of such party, or of any of its employees or agents. 
 16.18. No Recording. Neither
this Agreement nor any memorandum or short form hereof shall be recorded or filed in any public land or other public records of any jurisdiction, by either party and any attempt to do so may be treated by the other party as a breach of this
Agreement. 
 16.19. Waiver of Trial by Jury. The respective parties hereto shall and hereby do waive trial by
jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other on any matters whatsoever arising out of or in any way connected with this Agreement, or for the enforcement of any remedy under any statute,
emergency or otherwise. 
 16.20. Section 1031 Exchange. Purchaser may, without Seller’s consent, assign
this Agreement to a qualified intermediary in order to facilitate a like-kind exchange transaction, which includes the Property, pursuant to Section 1031 of the Internal Revenue Code. Seller further agrees to reasonably cooperate with Purchaser
in effecting such transaction, provided that any such exchange transaction, and the related documentation, shall: (i) not require Seller to expend any additional funds or execute any contract, make any commitment, or incur any obligations,
contingent or otherwise, to third parties which would expand Seller’s obligations beyond this Agreement, (ii) not delay the Closing or the transaction contemplated by this Agreement, (iii) not release Purchaser or otherwise affect
Purchaser’s obligation to perform in accordance with the terms hereof or any liability of the parties to one another under the terms of this Agreement, and (iv) not include Seller’s acquiring title to any property which is not the
subject of this Agreement. Further, Purchaser shall indemnity Seller from and against all liability arising out of such cooperation (including reasonable attorneys’ fees) which indemnity shall survive any closing hereunder or termination of
this Agreement and it shall be Purchaser’s responsibility to determine whether the exchange property and the transaction qualifies as an exchange of property of “like kind’ within the meaning of the Internal Revenue Code, and
Purchaser shall be solely responsible for the tax consequences to Purchaser of the exchange, it being agreed that Seller shall have no obligation or liability to Purchaser in connection therewith. The respective obligations of Seller and Purchaser
under this Section 16.20 shall survive the Closing and shall not be merged therein. 
  

 - 35 - 

 16.21. 8-K Requirements. After the Closing, at the request of Purchaser and at
Purchaser’s expense, Seller shall make available to Purchaser the historical financial information in Seller’s possession regarding the operation of the Property to the extent required by Purchaser (as a publicly-traded real estate
investment trust) in order to prepare stand-alone audited financial statements for such operations and in accordance with generally accepted accounting principles, as of the end of the fiscal year 2009 and any required subsequent date or period, and
to cooperate (at Purchaser’s expense) with Purchaser and any auditor engaged by Purchaser for such purpose. Seller shall, without liability, recourse or cost to Seller, provide to Purchaser’s designated independent auditor a representation
letter regarding the books and records of the Property in substantially the form of Exhibit J attached hereto and made a part hereof (the “Audit Inquiry Letter”). Purchaser and, by its joinder below, Industrial Income Trust
Inc. (“IIT”), hereby acknowledge and agree that (a) Purchaser and IIT shall be solely liable to pay and shall reimburse Seller, within five (5) business days following Seller’s request, for all third-party,
out-of-pocket costs and expenses incurred by Seller in assisting Purchaser at Purchaser’s request under this Section (such assistance, the “Audit Assistance”), including all such costs incurred to review, research and complete
the Audit Inquiry Letter; (b) Seller’s performance of any Audit Assistance shall be solely as an accommodation to Purchaser and Seller shall have no, and Seller is hereby fully released and discharged from, any and all liability or
obligation with respect to the Audit Assistance, any filings (the “SEC Filings”) made by Purchaser or IIT with the United States Securities and Exchange Commission (“SEC”) and the Audit Inquiry Letter; and
(c) Purchaser and IIT hereby, jointly and severally, agree to indemnify, protect, defend and hold Seller, its partners and their respective members, officers, directors, shareholders, participants, affiliates, employees, representatives,
investors, agents, successors and assigns (each an “Indemnified Party” and collectively, the “Indemnified Parties”) harmless from and against any and all costs, expenses, losses, liabilities, damages, claims,
demands, allegations or actions (collectively, “Losses”) actually asserted against or actually incurred by any Indemnified Party as a result of or otherwise arising in connection with the Audit Assistance, the SEC Filings and/or the
Audit Inquiry Letter; provided, that Losses shall specifically exclude any Losses proximately resulting from the gross negligence or willful misconduct of an Indemnified Party. 

[Signatures on following pages.] 
  

 - 36 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement under seal on the
date or dates set forth below. 
  

											
	SELLER:
	
	 THE REALTY ASSOCIATES FUND V, L.P.,

a Delaware limited partnership

		
	By:	 	 Realty Associates Fund V, LLC,

its general partner

			
		 	By:	 	 Realty Associates Advisors LLC,

its manager

				
		 		 	By:	 	 Realty Associates Advisors Trust,

its manager

					
		 		 		 	By:	 	/s/ James P. Raisides
		 		 		 	Name:	 	James P. Raisides
		 		 		 	Title:	 	Sr. Vice President
		
	By:	 	 Realty Associates Fund V Texas Corporation,

a Texas corporation,
 general
partner

			
		 	By:	 	/s/ James P. Raisides
		 	Name:	 	James P. Raisides
		 	Title:	 	Sr. Vice President

  

																	
		 		 		 		 		 		 		 	Seller’s Tax ID No.: ______________________

 

 - 37 - 

											
	PURCHASER:
	
	 IIT ACQUISITIONS LLC,

a Delaware limited liability company

		
	By:	 	 IIT Real Estate Holdco LLC,

Its Sole Member

			
		 	By:	 	 Industrial Income Operating Partnership LP,

Its Sole Member

				
		 		 	By:	 	 Industrial Income Trust Inc.,

Its General Partner

					
		 		 		 	By:	 	/s/ Dwight L. Merriman
		 		 		 	Name:	 	Dwight L. Merriman
		 		 		 	Title:	 	Chief Executive Officer
				
		 		 		 	Purchaser’s Tax ID No.: ____________

IIT has executed this Agreement in its corporate capacity solely for the purpose of evidencing its consent and agreement to the terms of
Section 16.21 of this Agreement. 
  

			
	IIT:
	
	INDUSTRIAL INCOME TRUST, INC.
		
	By:	 	/s/ Dwight L. Merriman
	Name:	 	Dwight L. Merriman
	Title:	 	Chief Executive Officer

  

 - 38 - 

 The Escrow Agent hereby executes this Agreement for the sole purpose of acknowledging
receipt of the Initial Deposit and its responsibilities hereunder and to evidence its consent to serve as Escrow Agent in accordance with the terms of this Agreement and that the person signing below is authorized to bind Escrow Agent. 

 

			
	ESCROW AGENT:
	
	CHICAGO TITLE INSURANCE COMPANY
		
	By:	 	Ellen Schwab
	Name:	 	Ellen Schwab
	Title:	 	Comm. Escrow Officer
		
	Date:	 	August 4, 2010

  

 - 39 - 

 LIST OF EXHIBITS AND SCHEDULES 

 

					
	Exhibit A	  	-	  	Legal Description
	Exhibit B	  	-	  	Due Diligence Documents to be Delivered by Seller
	Exhibit C	  	-	  	Form of Tenant Estoppel Certificate
	Exhibit D	  	-	  	Permitted Exceptions
	Exhibit E	  	-	  	Lease Schedule
	Exhibit F	  	-	  	Form of Special Warranty Deed
	Exhibit G	  	-	  	Form of General Assignment and Bill of Sale
	Exhibit H	  	-	  	Form of Notice Letter to Tenants
	Exhibit I	  	-	  	Form of Non-Foreign Entity Certificate
	Exhibit J	  	-	  	Form of Audit Inquiry Letter
	Exhibit K	  	-	  	List of Contracts
	Exhibit L	  	-	  	List of Leasing Commission Agreements

 EXHIBIT A 

LEGAL DESCRIPTION 

THAT PORTION OF LOT 3 OF THE I. HEYMAN TRACT, IN THE RANCHO SAN ANTONIO, IN THE CITY OF BELL GARDENS, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER
MAP RECORDED IN BOOK 7 PAGE 249 OF DEEDS, DESCRIBED AS FOLLOWS: 
 BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 3; THENCE ALONG THE NORTHERLY
LINE OF SAID LOT, SOUTH 82 3/4 DEGREES EAST, TO ITS INTERSECTION WITH THE WESTERLY LINE OF EASTERN AVENUE, AS DESCRIBED IN THE FINAL DECREE OF CONDEMNATION, ENTERED SEPTEMBER 15, 1937 IN LOS ANGELES COUNTY SUPERIOR COURT, CASE NO. 408946, A
CERTIFIED COPY THEREOF WAS RECORDED SEPTEMBER 15, 1937 IN BOOK 15179 PAGE 171 OF OFFICIAL RECORDS OF SAID COUNTY; THENCE SOUTHERLY ALONG SAID EASTERN AVENUE TO ITS INTERSECTION WITH THE NORTHERLY LINE OF THE RIGHT OF WAY OF THE ANAHEIM AND SANTA ANA
BRANCH OF THE SOUTHERN PACIFIC RAILROAD; THENCE WESTERLY ALONG SAID NORTHERLY LINE ON 0 DEGREES 30 MINUTES CURVE, CONCAVE TO THE SOUTH TO THE SOUTHEAST CORNER OF THE 12 ACRE TRACT OF LAND CONVEYED TO ENOS STRAWN, BY DEED RECORDED IN BOOK 759 PAGE 51
OF DEEDS; THENCE ALONG THE EASTERLY LINE OF SAID LOT 12 ACRE TRACT, NORTH 08° 38 MINUTES EAST 7.42 CHAINS TO THE NORTHEAST CORNER THEREOF, BEING A POINT DISTANT SOUTHERLY 20 FEET, MEASURED AT RIGHT ANGLES, FROM THE NORTHERLY LINE OF SAID LOT 3;
THENCE ALONG THE NORTHERLY LINE OF SAID 12 ACRE TRACT AND PARALLEL WITH THE NORTHERLY LINE OF SAID LOT, NORTH 81 DEGREES 45 MINUTES WEST 13.60 CHAINS TO THE NORTHWEST CORNER OF SAID 12 ACRE TRACT AND THE EASTERLY LINE OF THE COMPTON AND JABONERIA
ROAD JOINING SAID LOT 3 ON THE WEST; THENCE NORTHERLY ALONG THE EASTERLY LINE OF SAID ROAD TO BEGINNING. 
 EXCEPT ANY PORTION OF SAID LAND
WITHIN THE LINES OF SHULL STREET, SIXTY FEET WIDE. 
 ALSO EXCEPT TO GRANTOR ALL OIL, GAS, MINERALS AND OTHER HYDROCARBON SUBSTANCES IN AND
UNDER SAID LAND BELOW A DEPTH OF 500 FEET WITHOUT THE RIGHT OF SURFACE ENTRY, AS RESERVED BY ATLANTIC RICHFIELD COMPANY, FORMERLY THE ATLANTIC REFINING COMPANY, SUCCESSOR BY MERGER TO RICHFIELD OIL COMPANY IN DEED RECORDED JUNE 5, 1970 AS
INSTRUMENT NO. 96, EXCEPTING THEREFROM ALL BUILDING AND IMPROVEMENTS AS GRANTED BY CONVEYANCE, FROM DUNN PROPERTIES CORPORATION IN FAVOR OF DUNN CONSTRUCTION COMPANY, A CALIFORNIA PARTNERSHIP, DATED SEPTEMBER 1, 1972 RECORDED DECEMBER 29, 1972 AS
INSTRUMENT NO. 6561, IN THE OFFICE OF THE COUNTY RECORDER OF LOS ANGELES COUNTY. 
  

 EXHIBIT A - PAGE 1 OF 1 

 EXHIBIT B 

DUE DILIGENCE DOCUMENTS 

TO BE DELIVERED OR MADE AVAILABLE BY SELLER 

Existing Title Policy 

CC&R’s/REA’s if applicable 

Existing ALTA Survey 
 Existing Environmental
Report(s) - Phase I, Phase II, etc. 
 Seismic Report, if applicable 

As-Built Drawings (Hard copy & electronic) 

Architectural Drawings (Hard copy & electronic) 

Mechanical, Electrical, Plumbing, Sprinkler/Fire Protection Drawings and Specifications 

Certificates of Occupancy and/or Substantial Completion (shell & tenant) 

Warranties & Guaranties (HVAC, Roof, Elevator, Other) 

Governmental Permits, Notices, Reports, Citations, Compliance / Non-Compliance & Correspondence 

Documents from any Governmental authority pertaining to the property 

Annual Inspection Reports (elevator, HVAC, roof, fire pump, sprinkler) for last 24 months 

Recent Inspection Reports (fire department, building inspections, zoning, if applicable) 

Leases, Amendments & Subleases 
 Rent
Commencement Letters 
 Tenant Correspondence 

Summary of any Proposed Leases 
 List of Personal
Property 
 Tenant Financial Statements 

Tenant Contact List 
 Detailed Rent Roll
(including expiration summary, security deposits, options, etc.) 
 Historical Operating Statements (24 months) 

General and/or Tenant Ledgers (2007, 2008, 2009 & YTD) 

Aged Receivables/Delinquency Report 
 Annual
Expense Reconciliation (current and prior year) 
 Year-end Trial Balance 

Summary of Capital Expenditures and Major Repairs for last 24 months 

Current Year Tax Valuation 
 Tax Bills (previous
two years) 
 History of Tax Protests, if any (including original and final valuations) 

 

 EXHIBIT B - PAGE 1 OF 2 

 Pending Tax Protests, if any 

Seller’s Issuance of Insurance Claims or Letter Stating None 

Tenant Insurance Certificates 
  

 EXHIBIT B - PAGE 2 OF 2 

 EXHIBIT C 

TENANT ESTOPPEL CERTIFICATE 

                      
                                         
                  (the “Tenant”) hereby certifies to THE REALTY ASSOCIATES FUND V, L.P., a Delaware limited partnership (the
“Owner”) and ITT ACQUISITIONS LLC, a Delaware limited liability company, its and successors or assigns (“Purchaser”) and its Lenders (as defined below) as follows: 

The undersigned Tenant understands that Purchaser or its assigns intends to purchase certain real property and improvements, which
includes the Premises (the “Property”). In connection with the purchase by Purchaser, Purchaser has requested that the Tenant complete this tenant certificate (the “Tenant Certificate”) with the appropriate
information as it pertains to the Tenant’s lease and to agree to the requirements set forth herein. 
 The undersigned Tenant hereby
certifies to and agrees with Owner and Purchaser as to the following: 
 1. Pursuant to that certain Lease dated
                    , 20     (the “Lease”), Tenant leases approximately
                                        
square feet of space (the “Premises”). The Lease, as amended, modified and supplemented, is in full force and effect, and represents the entire agreement between Tenant and Owner for the Premises. The Lease constitutes the entire
agreement between Owner and Tenant with respect to the Premises and there are no amendments, modifications or supplements to the Lease, whether oral or written, except as follows (include the date of each amendment, modification or supplement):
                                         
                                   
                                         
                                         
                                      . A true and
correct copy of the Lease, as amended, modified and supplemented, is attached hereto as Exhibit A. 
 2. The term of the
Lease began on
                                         
                   ,                     
and will end on
                                        ,
20    . 
 3. The Lease does/does not provide for an option to extend the term of the Lease
for
                                        
years. Except as expressly provided in the Lease, Tenant does not have any right or option to renew or extend the term of the Lease, to lease other space at the Property, nor any right to purchase all or any part of the Premises or the Property.

 4. Tenant has neither sent nor received any notice of default under the Lease which remains uncured and to the best of
Tenant’s knowledge, neither Tenant nor Owner has committed any breach under the Lease, which alone or with the passage of time, the giving of notice, or both would constitute a default thereunder, except as follows:
                                         
                                         
          
                                         
                                         
                  . To the best of Tenant’s knowledge, no claim, controversy, dispute, quarrel or disagreement exists between Tenant and Owner.

  

 EXHIBIT C - PAGE 1 OF 2 

 5. Tenant is currently paying [Base Monthly] Rent under the Lease in the amount of
$                                        
and estimated monthly pass throughs in the amount of
                                        .
Monthly installments of rent have been paid through
                                        .
Tenant is not entitled to any periods of free rent, partial rent, rebate of rental payments or any other type of rental concession. Tenant has no claim or defense against Owner under the Lease and is asserting no offsets or credits against the rent.

 6. Tenant has not prepaid any rent or other charges under the Lease to Owner other than the following:
                                        
                                         
                                         
                                         
                                         
                                         
       . 
 7. A cash security deposit in the amount of
$                                        
has been paid to Owner under the Lease, and Tenant has not given Owner any other security or similar deposit. 
 8. Tenant has
accepted possession of and is in full occupancy of the Premises, and has not sublet or assigned Tenant’s leasehold interest; all improvements required to be made by Owner, if any, have been completed to the full satisfaction of Tenant, and any
tenant improvement allowances required by the Lease, if any, to be made by Owner have been paid in full to the satisfaction of Tenant, except for the
following:                                       
                                         
                                         
                                       .

 This Tenant Estoppel Certificate is made to Purchaser in connection with the prospective purchase by Purchaser or
Purchaser’s assignee of the Property. This Tenant Estoppel Certificate may be relied on by Purchaser, and any other party who acquires an interest in the Premises in connection with such purchase and any person or entity which may finance such
purchase (each, a “Lender”). 
 Dated this
                     day of
                    , 201  . 

 

			
	[NAME OF TENANT]
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 EXHIBIT C - PAGE 2 OF 2 

 EXHIBIT D 

PERMITTED EXCEPTIONS 
  

	1.	Real estate taxes for the year of Closing and subsequent years, a lien not yet due and payable and all general and special assessments. 

 

	2.	Rights of tenants pursuant to unrecorded leases listed on the Rent Roll. 

  

	3.	Local, state and federal laws, ordinances or governmental regulations, including, but not limited to, building and zoning laws, ordinances and regulations, now or
hereafter in effect relating to the Property. 

  

	4.	Additional exceptions to be added subject to, and in accordance with, Article VI of the Agreement. 

 

 EXHIBIT D - PAGE 1 OF 1 

 EXHIBIT E 

LEASE SCHEDULE 

[Please see rent roll attached hereto] 
  

	NOTE:	The rent roll has been attached for reference purposes only and Seller does not represent the accuracy thereof except as specifically set forth in Article VII of
this Agreement. 

  

 EXHIBIT E - PAGE 1 OF 1 

 EXHIBIT F 

FORM OF GRANT DEED 
  

	
	 RECORDING REQUESTED BY
 AND
WHEN RECORDED MAIL TO:

	
	  
	  
	  

GRANT DEED 
 In
accordance with Section 11932 of the California Revenue and Taxation Code, Grantor has declared the amount of the transfer tax which is due by a separate statement which is not being recorded with this Grant Deed. 

FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, 

THE REALTY ASSOCIATES FUND V, L.P., a Delaware limited partnership (“Grantor”), grants, bargains, sells and conveys to
                                         
                    (“Grantee”), that certain real property located in the City of Bell Gardens, County of Los Angeles, State of California,
and more particularly described as follows (the “Land”): 
 See attached Exhibit A, incorporated by reference to
this document, together with all improvements, structures and fixtures located thereon, and together with all rights, privileges and easements appurtenant to the Land and said improvements, including, without limitation, all of Grantor’s right,
title and interest, if any, in and to all minerals, water and mineral and water rights and all easements, licenses, covenants and other rights-of-way or other appurtenances used in connection with the beneficial use and enjoyment of the Land and
such improvements 
 This Deed and the conveyance hereinabove set forth is executed by Grantor and accepted by Grantee subject to only
(i) non-delinquent real estate taxes and assessments, and (ii) the matters set forth on Exhibit B attached to this Grant Deed. 

[SIGNATURE ON FOLLOWING PAGE] 
  

 EXHIBIT F - PAGE 1 OF 4 

 IN WITNESS WHEREOF, this Deed has been executed by Grantor to be effective as of the
             day of                     , 201  .

  

											
	GRANTOR:
	
	 THE REALTY ASSOCIATES FUND V, L.P.,

a Delaware limited partnership

			
		 	By:	 	 Realty Associates Fund V LLC,

a Massachusetts limited liability company,

general partner

			
		 	By:	 	 Realty Associates Advisors LLC,

a Delaware limited liability company,
 Manager

				
		 		 	By:	 	 Realty Associates Advisors Trust,

a Massachusetts business trust,

Manager

					
		 		 		 	By:	 	 
		 		 		 	Name:	 	 
		 		 		 	Title:	 	 
		
	By:	 	 Realty Associates Fund V Texas Corporation,

a Texas corporation,
 general
partner

			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  

 EXHIBIT F - PAGE 2 OF 4 

 THE STATE OF
                     § 
 COUNTY
OF                            § 

On                     ,
201  , before me, the undersigned, a Notary Public in and for said State, personally appeared
                                         
                   , a
                                         
                    of Realty Associates Advisors Trust, in its capacity as the manager of Realty Associates Advisors LLC, in its capacity as the
manager of Realty Associates Fund V LLC, in its capacity as general partner of THE REALTY ASSOCIATES FUND V, L.P., a Delaware limited partnership, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose
name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the
instrument. 
 WITNESS my hand and official seal. 

 

					
	(SEAL)	 		 	  
		 		 	Notary Public in and for the said State

 THE STATE OF
                     § 
 COUNTY
OF                            § 

On                     ,
201  , before me, the undersigned, a Notary Public in and for said State, personally appeared
                                         
                   , a
                                         
                    of Realty Associates Fund V Texas Corporation, in its capacity as general partner of THE REALTY ASSOCIATES FUND V, L.P., a Delaware
limited partnership, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and
that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 

WITNESS my hand and official seal. 
  

					
	(SEAL)	 		 	  
		 		 	Notary Public in and for the said State

  

 EXHIBIT F - PAGE 3 OF 4 

 SEPARATE STATEMENT OF 

DOCUMENTARY TRANSFER TAX AND REQUEST 

THAT TAX DECLARATION NOT BE MADE A PART OF 

THE PERMANENT RECORD IN THE OFFICE OF THE COUNTY RECORDER 

County Recorder 

                     County, California

 Dear Sir or Madam: 

In accordance with Section 11932 of the California Revenue and Taxation Code, it is requested that this Statement not be recorded
with the attached Grant Deed but be affixed to the Grant Deed after recordation and be returned as directed thereon. 
 The
Grant Deed names THE REALTY ASSOCIATES FUND V, L.P., as Grantor and
                                        ,
as Grantee. The property being transferred is located in the City of                     , County of
                    , State of California. 

The amount of documentary transfer tax due on the attached Grant Deed is
                                        
Dollars and
                                        
Cents ($            ), computed on the full value of the property. 

Dated:                        
                 
  

	
	  
	Seller/Agent

  

 EXHIBIT F - PAGE 4 OF 4 

 EXHIBIT G 

GENERAL ASSIGNMENT AND BILL OF SALE 

THIS GENERAL ASSIGNMENT AND BILL OF SALE (the “Bill of Sale”) is made as of the
                 day of                     , 201_ by:
(i) THE REALTY ASSOCIATES FUND V, L.P., a Delaware limited partnership (“Seller”), and
                                         

(ii)                                        
                     , a
                                         
                    (“Purchaser”). 

KNOW ALL MEN BY THESE PRESENTS: 

Concurrently with the execution and delivery hereof, pursuant to a certain Agreement of Purchase and Sale dated
                    , 201_ (the “Agreement”) between Seller and Purchaser, Seller is conveying to Purchaser all of
Seller’s right, title and interest in and to the real property described on Exhibit A attached hereto and made a part hereof (the “Land”) and in and to the building, parking areas and other structures and improvements
located on the Land (collectively, the “Improvements”) located in Bell Gardens, California. The Land and the Improvements are hereinafter sometimes collectively referred to as the “Property.” 

It is the desire of Seller to hereby sell, assign, transfer, convey, set-over and deliver to Purchaser all of Seller’s right, title
and interest in and to the Assigned Property (as hereinafter defined). 
 1. Bill of Sale and Assignment. 

Seller does hereby sell, assign, transfer, set-over and deliver unto Purchaser, its successors and assigns, subject to the limitations
contained in Section 8.2 of the Agreement, all right, title and interest of Seller in and to: 
 a.
All personal property (including equipment), if any, owned by Seller and located on the Property as of the date hereof, all plans and specifications and as-built drawings for the Improvements and equipment in Seller’s possession or control, all
inventory owned by Seller, if any, located on the Property on the date hereof, and all fixtures (if any) owned by Seller and located on the Property as of the date hereof (the “Personal Property”); 

b. All non-exclusive trademarks and trade names, if any, used or useful in connection with the Property, but only to the
extent that the same are not trademarks or trade names of Seller or any of Seller’s affiliated companies (collectively, the “Trade Names”); 

c. Seller’s interest, if any, in and to any Assigned Contracts (as defined in the Agreement), guarantees, licenses,
approvals, certificates, permits and warranties relating to the Property, to the extent assignable (collectively, the “Intangible Property”); 
  

 EXHIBIT G - PAGE 1 OF 4 

 d. All leases, subleases, licenses and other occupancy agreements, together
with any and all amendments, modifications or supplements thereto and any guarantees thereof (the “Leases”) demising space in or otherwise similarly affecting or relating to the Property and more particularly described on Exhibit
E to the Agreement, and all prepaid rent attributable to the period after the date hereof, and all security deposits thereunder (collectively, the “Leasehold Property”); subject, however to the rights of Seller set forth in
Section 4.2.4 of the Agreement to rents under the leases assigned hereby attributable to the period prior to the date hereof. 

TO HAVE AND TO HOLD the Personal Property, the Trade Names, the Intangible Property, the Leases and the Leasehold Property (collectively,
the “Assigned Property”) unto Purchaser, its successors and assigns, forever. 
 2. Assumption.

 Purchaser accepts the foregoing assignment and assumes and agrees to be bound by and to perform and observe
all of the obligations, covenants, terms and conditions to be performed or observed by the lessor under the Leases arising on or after the date hereof. 

3. Limitation of Liability. 

The obligations of Seller and Purchaser are intended to be binding, respectively, only on such party and its assets and
shall not be personally binding upon, nor shall any resort be had to, the private properties of any of the partners, officers, directors, shareholders or beneficiaries of such party, or of any partners, officers, directors, shareholders or
beneficiaries of any partners of such party, or of any of its employees or agents. 
 4. Exclusions from Personal
Property. 
 It is hereby acknowledged by the parties that the Assigned Property shall not include claims
relating to any real property tax refunds or rebates relating to periods prior to the date hereof, existing insurance claims and any existing claims against tenants of the Property, which claims are hereby reserved by Seller to the extent set forth
in Section 1.2 of the Agreement. 
 5. Counterpart Copies. 

This Bill of Sale may be executed in two or more counterpart copies, all of which counterparts shall have the same force
and effect as if all parties hereto had executed a single copy of this Bill of Sale. 
  

 EXHIBIT G - PAGE 2 OF 4 

 IN WITNESS WHEREOF, the parties have caused this Bill of Sale to be executed as of the date
first written above. 
  

									
	SELLER:
	
	 THE REALTY ASSOCIATES FUND V, L.P.,

a Delaware limited partnership

		
	By:	 	 Realty Associates Fund V LLC,

a Massachusetts limited liability company,

general partner

			
		 	By:	 	 Realty Associates Advisors LLC,

a Delaware limited liability company,
 Manager

				
		 		 	By:	 	 Realty Associates Advisors Trust,

a Massachusetts business trust,

Manager

					
		 		 		 	By:	 	 
		 		 		 	Name:	 	 
		 		 		 	Title:	 	 

  

					
	By:	 	 Realty Associates Fund V Texas Corporation,

a Texas corporation,
 general
partner

			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  

 EXHIBIT G - PAGE 3 OF 4 

			
	PURCHASER:
	
	 
	a	 	 

			
		
	By:	 	 
	Name:	 	
	Title:	 	

  

 EXHIBIT G - PAGE 4 OF 4 

 EXHIBIT H 

NOTICE LETTER TO TENANTS 

                      
  , 201   
 CERTIFIED MAIL, 

RETURN RECEIPT REQUESTED 
 Dear Tenant:

 We are pleased to advise you that the building in which your premises are located at
                                        
    , has been sold by THE REALTY ASSOCIATES FUND V, L.P. to
                                        
                     (the “Purchaser”) effective as of the date set forth above. Your lease agreement has been assigned to and
accepted by Purchaser and Purchaser has agreed to assume all responsibility for the security deposit currently held under your lease, such deposit being in the amount of
$                            . 

All future correspondence relating to your tenancy, as well as rent checks and other charges, should be made payable to
                                 and mailed to
                     c/o
                . 
 The Purchaser
looks forward to working with you in the operation of this Property. 
  

 EXHIBIT H - PAGE 1 OF 3 

									
	Very truly yours,
	
	SELLER:
	
	 THE REALTY ASSOCIATES FUND V, L.P.,

a Delaware limited partnership

		
	By:	 	 Realty Associates Fund V LLC,

a Massachusetts limited liability company,

general partner

			
		 	By:	 	 Realty Associates Advisors LLC,

a Delaware limited liability company,
 Manager

				
		 		 	By:	 	 Realty Associates Advisors Trust,

a Massachusetts business trust,

Manager

					
		 		 		 	By:	 	 
		 		 		 	Name:	 	 
		 		 		 	Title:	 	 

  

					
	By:	 	 Realty Associates Fund V Texas Corporation,

a Texas corporation,
 general
partner

			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  

 EXHIBIT H - PAGE 2 OF 3 

			
	PURCHASER:
	
	 
	a	 	 

			
		
	By:	 	 
	Name:	 	
	Title:	 	

  

 EXHIBIT H - PAGE 3 OF 3 

 EXHIBIT I 

NON-FOREIGN ENTITY CERTIFICATE 

Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the
transferor is a foreign person. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest by THE REALTY ASSOCIATES FUND V, L.P., a Delaware limited partnership
(“Transferor”), the undersigned hereby certifies on behalf of Transferor: 
  

	 	1.	Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax
Regulations); 

  

	 	2.	Transferor’s U.S. employer identification number is
                                        ;
and 

  

	 	3.	Transferor’s office address is: 

  

	 	  	c/o TA Realty Associates 

	 	  	28 State Street, 10th Floor 

	 	  	Boston, Massachusetts 02109. 

  

	 	4.	The Transferor is not a “disregarded entity” (as that term is defined in the Code and the Income Tax Regulations promulgated thereunder).

 Transferor understands that this certification may be disclosed to the Internal Revenue Service and that any
false statement made within this certification could be punished by fine, imprisonment, or both. 
 Under penalties of perjury
the undersigned declares that he has examined this certification and that to the best of his knowledge and belief it is true, correct and complete, and the undersigned further declares that he has the authority to sign this document on behalf of the
Transferor. 
  

 EXHIBIT I - PAGE 1 OF 2 

 Dated:
                        , 201   

 

									
	TRANSFEROR:
	
	 THE REALTY ASSOCIATES FUND V, L.P.,

a Delaware limited partnership

		
	By:	 	 Realty Associates Fund V LLC,

a Massachusetts limited liability company,

general partner

			
		 	By:	 	 Realty Associates Advisors LLC,

a Delaware limited liability company,
 Manager

				
		 		 	By:	 	 Realty Associates Advisors Trust,

a Massachusetts business trust,

Manager

					
		 		 		 	By:	 	 
		 		 		 	Name:	 	 
		 		 		 	Title:	 	 

  

					
	By:	 	 Realty Associates Fund V Texas Corporation,

a Texas corporation,
 general
partner

			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  

 EXHIBIT I - PAGE 2 OF 2 

 EXHIBIT J 

FORM OF AUDIT INQUIRY LETTER 
  

	
	[Auditor]
	  
	  

 Dear Sirs: 

We are writing at your request to confirm our understanding that your audit of the Statement of Revenue and Certain Expenses for the year
ended                             , 20    , was made for the purpose of
expressing an opinion as to whether the statement of operating income presents fairly, in all material respects, the results of operations of [INSERT NAME AND ADDRESS OF PROJECT] (the “Project”) in conformity with generally accepted
accounting principles. 
 Certain representations in this letter are described as being limited to matters that are material.
Items are considered material if they involve an omission or misstatement of accounting information that, in light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the information would be changed
or influenced by the omission or misstatement. An omission or misstatement that is monetarily small in amount could be considered material as a result of qualitative factors. 

The following representations are made exclusively to the auditor of the Project. In connection with your [INSERT DATE] audit we confirm,
to our actual knowledge, with respect to our daily operations and without independent inquiry or investigation, the following representations made during your audit: 

A. We have made available to you all financial records and related data concerning this Project which are in our possession. 

B. We are not aware of any: 
  

	 	1.	Irregularities involving any member of management or employees that could have a materially adverse effect on the statement of operating income.

  

	 	2.	Notices of violations of laws or regulations, the effects of which should be considered for disclosure in the financial statements or as a basis for recording a loss
contingency. 

  

	 	3.	Material events that have occurred subsequent to
                    , 20     that would require material adjustment to the statement of operating income.

  

 EXHIBIT J - PAGE 1 OF 2 

 C. There are no material transactions that have not been properly recorded in the accounting
records underlying the financial statements. 
 This letter has been executed by the undersigned subject to the terms of
Section 16.21 of that certain Purchase and Sale Agreement dated July     , 2010, by and between the undersigned and an affiliate of Industrial Income Trust Inc. 

 

			
	SELLER:
	
	                           
                                         
                                 ,
	a	 	 

			
		
	By:	 	 
	Name:	 	 
	Title:	 	                             
                                         
                 ]

  

 EXHIBIT J - PAGE 2 OF 2 

 EXHIBIT K 

LIST OF CONTRACTS 
  

											
	 Vendor/Contractor
	  	 Phone#
	  	 Purpose

of Contract
	  	 Contract

Expires
	  	 Contract
Amount
	 
					
	 Pacific Cutting Edge
	  	714-288-9128	  	Exterior Landscape	  	12/31/2010	  	$	950.00/mo	  
					
	 Classic Property Svcs
	  	714-474-1815	  	Pkg Lot Sweeping	  	12/31/2010	  	$	810.00/qtr	  
					
	 Protection One
	  	714-396-8631	  	8429/8433 Alarm Panel Monitoring	  		  	$	131.50/mo	  
					
	 Palos Verdes Monitoring
	  	310-521-8537	  	8435 Alarm Panel Monitoring	  		  	$	225.00/qtr	  
					
	 White Mechanical
	  	949-716-8379	  	HVAC Quarterly Mtnce	  	6/30/2010	  	$	115.00/qtr	  
					
	 Stanley/HSM
	  	800-836-6691	  	Fire Pump Monitoring	  	Month to Month	  	$	293.16/bi	-annually 
					
	 Pacific Cutting Edge
	  	714-288-9128	  	Tree Cutting	  	12/31/2010	  	$	1760.00/yr	  
					
	 ADT
	  		  	Alarm Monitoring	  	3/24/2015	  	$	967.36/yr	  
					
	 Ortiz Fire Protection
	  		  	Annual Pump House	  	Month to Month	  	$	775.00/yr	  

  

 EXHIBIT K - PAGE 1 OF 1 

 EXHIBIT L 

LIST OF LEASING COMMISSION AGREEMENTS 

NONE 
  

 EXHIBIT L - PAGE 1 OF 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]