Document:

Amendment No. 2 dated as of April 13, 2012 to Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT NO. 2 

Dated as of April 13, 2012 
 to 
 CREDIT AGREEMENT 

Dated as of October 21, 2011 
 THIS AMENDMENT NO. 2 (this “Amendment”) is made as of April 13, 2012 by and among Vistaprint Limited (the “Company”), Vistaprint B.V. (“Vista
B.V.”), Vistaprint Schweiz GmbH (“Vista GmbH”), Vistaprint N.V. (“Vista N.V.”) and Vistaprint USA, Incorporated (collectively with the Company, Vista B.V., Vista GmbH and Vista N.V., the
“Borrowers”), the Lenders parties hereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”), under that certain Credit Agreement, dated as of October 21, 2011,
by and among the Borrowers, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings given to them in the Credit Agreement. 
 WHEREAS, the Borrowers have requested that
the Lenders and the Administrative Agent agree to certain amendments to the Credit Agreement; 
 WHEREAS, the Borrowers, the
Lenders party hereto and the Administrative Agent have agreed to such amendments on the terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment. 

1. Amendments to the Credit Agreement. Effective as of the date of satisfaction of the conditions precedent set forth in
Section 4 below (the “Amendment No. 2 Effective Date”), the parties hereto agree that the Credit Agreement is hereby amended as follows: 
 (a) The definition of “Aggregate Commitment” set forth in Section 1.01 of the Credit Agreement is amended to delete the final sentence thereof and to replace such sentence with the
following sentence: 
 “As of the Amendment No. 2 Effective Date, the Aggregate Commitment is
$387,500,000.” 
 (b) The definition of “Material Subsidiary” set forth in Section 1.01 of the Credit
Agreement is amended to add the following proviso to the end thereof: 
 ; provided further that,
solely for purposes of determining compliance with the requirements above, Consolidated Total Assets shall exclude (i) assets that are considered to be intangible assets under GAAP, including customer lists, goodwill, developed

 
technology, copyrights, trade names, trademarks, patents, franchises, licenses, capitalized research, development costs, capitalized software and website development, and (ii) intercompany
loans between Persons that become Subsidiaries. 
 (c) The definition of “Permitted Acquisition” set forth in
Section 1.01 of the Credit Agreement is amended to delete the reference to “2.25 to 1.00” appearing in the proviso in clause (f) thereof and replace such reference with a reference to “2.50 to 1.00”. 

(d) Section 1.01 of the Credit Agreement is amended to insert a new definition of “Amendment No. 2 Effective
Date” therein in the appropriate alphabetical order as follows: 
 “Amendment No. 2 Effective
Date” means April 13, 2012. 
 (e) Section 5.01 of the Credit Agreement is amended to restate in its
entirety the final paragraph thereof as follows: 
 Documents required to be delivered pursuant to this
Section 5.01 may be delivered by facsimile or electronic mail. Documents required to be delivered pursuant to clauses (a), (b) or (f) of this Section 5.01 that are delivered electronically shall be deemed to have been
delivered on the date on which such documents are filed for public availability on the SEC’s Electronic Data Gathering and Retrieval System; provided that the Company or the Parent shall notify (which may be by facsimile or electronic
mail) the Administrative Agent of the filing of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, in every instance the
Parent or the Company, as applicable, shall be required to provide copies of the compliance certificates required by clause (c) of this Section 5.01 to the Administrative Agent. 

(f) Section 5.09 of the Credit Agreement is amended to delete the phrase “thirty (30) days” appearing therein
and to replace such phrase with the phrase “forty-five (45) days”. 
 (g) Section 6.04(d) of the
Credit Agreement is amended to add “; provided, further, and for the avoidance of doubt, intercompany transfers of intangible assets that are solely effected by bookkeeping entries and that do not otherwise represent an exchange
or transfer of assets are not deemed to be investments, loans or advances or capital contributions and are not subject to the $150,000,000 limitation hereunder” immediately after the phrase “which are not Loan Parties” in the
parenthetical set forth in such Section. 
 (h) Section 6.07 of the Credit Agreement is amended to delete the phrase
“2.25 to 1.00 after giving effect” appearing in the proviso in clause (e) thereof and to replace such phrase with the phrase “2.50 to 1.00 immediately after giving effect”. 

(i) Schedule 2.01 to the Credit Agreement is replaced in its entirety with Schedule 2.01 attached hereto as Annex A.

 (j) Schedule 3.01A to the Credit Agreement is replaced in its entirety with Schedule 3.01A attached hereto as Annex
B. 
 2. New Lenders. Each of Bank of America, N.A., Fifth Third Bank and Wells Fargo Bank NA, London Branch (each a
“New Lender” and collectively the “New Lenders”) is entering into this Amendment and the Credit Agreement as a new Lender thereunder. Upon the effectiveness hereof and the execution hereof by each New Lender, such
New Lender shall constitute a “Lender” for all purposes under the Loan Documents. 

  
 2 

 3. Reallocations. The Administrative Agent shall (and the Lenders party hereto
authorize the Administrative Agent to) make such reallocations of each Lender’s Applicable Percentage of the Revolving Credit Exposure under the Credit Agreement as are necessary in order that the Revolving Credit Exposure with respect to such
Lender reflects such Lender’s Applicable Percentage of the Revolving Credit Exposure under the Credit Agreement as amended hereby. The Company hereby agrees to compensate each Lender for any and all losses, costs and expenses incurred by such
Lender in connection with the sale and assignment of any Eurocurrency Loans and the reallocation described in this Section 3, in each case on the terms and in the manner set forth in Section 2.16 of the Credit Agreement. 

4. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the conditions precedent that: 

(a) the Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrowers, the Parent
(in its capacity as a Guarantor), the Required Lenders (including each Lender whose Commitment is being increased pursuant hereto (each such Lender, an “Increasing Lender”)), the New Lenders and the Administrative Agent; 

(b) the Administrative Agent shall have received counterparts of the Consent and Reaffirmation attached as Exhibit
A hereto duly executed by the Subsidiary Guarantors; 
 (c) The Administrative Agent shall have received such
instruments, certificates and documents as the Administrative Agent shall reasonably request, including a written opinion of each of (i) Goodwin Procter LLP, U.S. counsel for the Loan Parties, (ii) Appleby, Bermuda counsel for the Loan
Parties, (iii) Stibbe, Dutch counsel for the Loan Parties, (iv) Baker & McKenzie Zurich, Swiss counsel for the Loan Parties, (v) Clayton Utz, Australian counsel for the Loan Parties and (vi) Stewart McKelvey Stirling
Scales, Nova Scotia counsel for the Loan Parties, each in form and substance reasonably acceptable to the Administrative Agent. 
 (d) the Administrative Agent shall have received from the Company for the account of each Lender that executes and delivers its counterpart hereto as, and by such time, as is requested by the
Administrative Agent, an amendment fee in an amount equal to 0.025% of such Lender’s Commitment under the Credit Agreement immediately prior to the Amendment No. 2 Effective Date; 

(e) the Administrative Agent shall have received from the Company for the account of each Increasing Lender and New
Lender, an upfront fee equal to the applicable percentage (previously disclosed to such Lender by the Administrative Agent or its affiliates) of the amount of (i) in the case of an Increasing Lender, such Lender’s Commitment (after giving
effect to its incremental Commitment pursuant to this Amendment) in excess of its Commitment under the Credit Agreement immediately prior to the Amendment No. 2 Effective Date and (ii) in the case of a New Lender, such Lender’s
Commitment after giving effect to this Amendment; and 
 (f) the Administrative Agent shall have received payment
and/or reimbursement of the Administrative Agent’s and its affiliates fees and expenses (including, to the extent invoiced, fees and expenses of counsels for the Administrative Agent) in connection with this Amendment and the other Loan
Documents. 

  
 3 

 5. Representations and Warranties of the Borrowers. Each of the Borrowers hereby
represents and warrants as follows: 
 (a) This Amendment and the Credit Agreement as amended hereby constitute legal, valid and
binding obligations of such Person and are enforceable against such Person in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject
to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 (b) As of the date
hereof and after giving effect to the terms of this Amendment, (i) no Default or Event of Default shall have occurred and be continuing and (ii) the representations and warranties of the Borrowers set forth in the Credit Agreement, as
amended hereby, are true and correct in all material respects as of the date hereof. 
 6. Reference to and Effect on the
Credit Agreement and the other Loan Documents. 
 (a) Upon the effectiveness hereof, each reference to the Credit Agreement
in the Credit Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as amended hereby. 

(b) The Credit Agreement, the Loan Documents and all other documents, instruments and agreements executed and/or delivered in connection
therewith shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) The execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the Loan Documents or any other documents,
instruments and agreements executed and/or delivered in connection therewith. 
 7. Governing Law. This Amendment shall
be construed in accordance with and governed by the law of the State of New York. 
 8. Headings. Section headings in
this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
 9. Counterparts. This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to
constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered in person. 
 [Signature Pages Follow] 

  
 4 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first
above written. 
  

			
	 VISTAPRINT LIMITED,

as the Company

		
	By:	 	 /s/ Dawn Antoine

	Name:	 	Dawn Antoine
	Title:	 	Secretary
	
	 VISTAPRINT SCHWEIZ GMBH,
 as a Borrower

		
	By:	 	 /s/ Ernst J. Teunissen

	Name:	 	Ernst J. Teunissen
	Title:	 	Managing Director
	
	 VISTAPRINT B.V.,

as a Borrower

		
	By:	 	 /s/ Ernst J. Teunissen

	Name:	 	Ernst J. Teunissen
	Title:	 	Managing Director
	
	 VISTAPRINT N.V.,

as a Borrower and as a Guarantor

		
	By:	 	 /s/ Ernst J. Teunissen

	Name:	 	Ernst J. Teunissen
	Title:	 	Chief Financial Officer and Managing Director
	
	 VISTAPRINT USA, INCORPORATED
 as a Borrower

		
	By:	 	 /s/ Wendy M. Cebula

	Name:	 	Wendy M. Cebula
	Title:	 	Chief Operating Officer and Treasurer

 Signature Page to Amendment No. 2 to 

Credit Agreement dated as of October 21, 2011 
 Vistaprint Limited et al 

 
			
	JPMORGAN CHASE BANK, N.A.,
	individually as a Lender, as the Swingline Lender, as the Issuing Bank and as Administrative Agent
		
	By:	 	 /s/ Scott McNamara

	Name:	 	Scott McNamara
	Title:	 	Vice President
	
	 HSBC BANK USA, NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	 /s/ Kenneth V. McGraime

	Name:	 	Kenneth V. McGraime
	Title:	 	SVP, Commercial Executive
	
	 RBS CITIZENS, N.A.,

as a Lender

		
	By:	 	 /s/ Stephen F. O’Sullivan

	Name:	 	Stephen F. O’Sullivan
	Title:	 	Senior Vice President
	
	 THE HUNTINGTON NATIONAL BANK,
 as a Lender

		
	By:	 	 /s/ Jared Shaner

	Name:	 	Jared Shaner
	Title:	 	Staff Officer
	
	 PNC BANK, NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	 /s/ Robert M. Martin

	Name:	 	Robert M. Martin
	Title:	 	Senior Vice President

  
 Signature Page
to Amendment No. 2 to 
 Credit Agreement dated as of October 21, 2011 

Vistaprint Limited et al 

 
			
	SOVEREIGN BANK, N.A.,
	as a Lender
		
	By:	 	 /s/ A. Neil Sweeny

	Name:	 	A. Neil Sweeny
	Title:	 	Vice President
	
	 GOLDMAN SACHS BANK USA,
 as a Lender

		
	By:	 	 /s/ Michelle Latzoni

	Name:	 	Michelle Latzoni
	Title:	 	Authorized Signatory
	
	 BANK OF AMERICA, N.A.,
 as a New Lender

		
	By:	 	 /s/ Jean S. Manthorne

	Name:	 	Jean S. Manthorne
	Title:	 	Senior Vice President
	
	 FIFTH THIRD BANK,

as a New Lender

		
	By:	 	 /s/ Matthew Kuchta

	Name:	 	Matthew Kuchta
	Title:	 	Vice President
	
	 WELLS FARGO BANK NA, LONDON BRANCH,
 as a New Lender

		
	By:	 	 /s/ Connor J. Duffy

	Name:	 	Connor J. Duffy
	Title:	 	Senior Vice President

  
 Signature Page
to Amendment No. 2 to 
 Credit Agreement dated as of October 21, 2011 

Vistaprint Limited et al 

 Annex A 
 SCHEDULE 2.01 
 COMMITMENTS 

 

					
	 LENDER
	  	COMMITMENT	 
		
	 JPMORGAN CHASE BANK, N.A.
	  	$	75,000,000	  
	 HSBC BANK USA, NATIONAL ASSOCIATION
	  	$	60,000,000	  
	 RBS CITIZENS, N.A.
	  	$	47,500,000	  
	 FIFTH THIRD BANK
	  	$	40,000,000	  
	 THE HUNTINGTON NATIONAL BANK
	  	$	35,000,000	  
	 PNC BANK, NATIONAL ASSOCIATION
	  	$	35,000,000	  
	 SOVEREIGN BANK
	  	$	30,000,000	  
	 BANK OF AMERICA, N.A.
	  	$	25,000,000	  
	 WELLS FARGO BANK NA, LONDON BRANCH
	  	$	25,000,000	  
	 GOLDMAN SACHS BANK USA
	  	$	15,000,000	  
		
	 AGGREGATE COMMITMENT
	  	$	387,500,000EX-10.10

 Exhibit 10.10 
 PURCHASE AGREEMENT 
 AND ESCROW INSTRUCTIONS 

 
 Between 

FS HARVEY, LLC 
  

as Seller 
  

and 
  

SERIES C, LLC 
  

as Buyer 

January 31, 2012 

 PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS 

 

			
	 DATED:
	  	 Dated to be effective as of January 31, 2012 (the “Effective Date”).

		
	 PARTIES:
	  	 This Purchase Agreement and Escrow Instructions is between FS HARVEY, LLC, as “Seller”, and SERIES C, LLC, as
“Buyer”.

 WHEREAS, as of the Effective Date, Seller is the fee title owner of that certain improved
property located at 1230 West 171st Street, Harvey,
Illinois, as legally described on Exhibit A attached hereto (the “Real Property”); 
 WHEREAS,
as of COE (as defined below), the Real Property will be improved with a building containing approximately 40,410 square feet (the “Building”) which Real Property and Building will be leased to The American Bottling Company, a
Delaware corporation (“Tenant”) in accordance with that certain Lease Agreement dated October 21, 2011, which lease is guarantied by that certain Guaranty dated October 1, 2011 by Dr. Pepper Snapple Group, Inc.
(collectively, the “Lease”). The Real Property, the Building, the improvements to the Real Property (the “Improvements”), the personal property, if any, of Seller located on the Real Property and Seller’s
interest in the Lease and all rents issued and profits due or to become due thereunder are hereinafter collectively referred to as the “Property”; and 

WHEREAS, Buyer desires to purchase the Property from Seller and Seller desires to sell the Property to Buyer free and
clear of all liens, all as more particularly set forth in this Purchase Agreement and Escrow Instructions (the “Agreement”). 
 NOW THEREFORE, in consideration of the promises set forth in this Agreement and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Seller and Buyer (the
“Parties” or a “Party”) hereby agree as follows: 

1.        INCORPORATION OF RECITALS.    All of the
foregoing Recitals are hereby incorporated as agreements of the Parties. 

2.        BINDING AGREEMENT.    This Agreement
constitutes a binding agreement between Seller and Buyer for the sale and purchase of the Property subject to the terms set forth in this Agreement. Subject to the limitations set forth in this Agreement, this Agreement shall bind and inure to the
benefit of the Parties and their respective successors and assigns. This Agreement supersedes all other written or verbal agreements between the Parties concerning any transaction embodied in this Agreement. No claim of waiver or modification
concerning the provision of this Agreement shall be made against a Party unless based upon a written instrument signed by such Party. 

  
 Purchase Agreement and Escrow
Instructions 
 Dr. Pepper Snapple – Harvey, IL 
 1 

 3.        INCLUSIONS IN
PROPERTY. 
 (a)        The Property. The term
“Property” shall also include the following: 

   (1)        all tenements, hereditaments and appurtenances
pertaining to the Real Property; 
    (2)        all
mineral, water and irrigation rights, if any, running with or otherwise pertaining to the Real Property; 

   (3)        all interest, if any, of Seller in any road
adjoining the Real Property; 
    (4)        all
interest, if any, of Seller in any award made or to be made or settlement in lieu thereof for damage to the Property by reason of condemnation, eminent domain or exercise of police power; 

   (5)        all of Seller’s interest in the Building, the
Improvements and any other improvements and fixtures on the Real Property; 

   (6)        all of Seller’s interest, if any, in any
equipment, machinery and personal property on or used in connection with the Real Property (the “Personalty”); 
    (7)        the Lease and security deposit, if any, now or hereafter due thereunder; and, 

   (8)        all of Seller’s interest, to the extent
transferable, in all permits and licenses (the “Permits”), warranties (specifically including, without limitation, the general contractor’s one-year construction warranty with respect to construction of the Building and other
Improvements on the Real Property and any warranty related to the roof of the Building, collectively, the “Warranties”), contractual rights and intangibles (including rights to the name of the improvements as well as all
construction contracts, subcontracts, architectural/engineering plans and/or agreements and similar agreements) with respect to the design, development, construction, operation, maintenance, repair and/or improvement of the Property (the
“Contracts”). 
 (b)        The Transfer
Documents.    The Personalty shall be transferred by that certain bill of sale from Seller to Buyer, the agreed upon form of which is attached hereto as Exhibit B (the “Bill of Sale”); the Lease shall be
transferred by that certain assignment and assumption of lease and guaranty, the agreed upon form of which is attached hereto as Exhibit C (the “Assignment of Lease”); the Permits, Warranties and Contracts shall be transferred by
that certain assignment and assumption agreement, the agreed upon form of which is attached hereto as Exhibit D (the “Assignment Agreement”); and the Real Property, the Building and the Improvements shall be transferred and conveyed
by execution and delivery of Seller’s special warranty deed, the agreed upon form of which is attached hereto as Exhibit E (the “Deed”). The Bill of Sale, the Assignment of Lease, the Assignment Agreement and the Deed are
hereinafter 

 
collectively referred to as the “Transfer Documents”. Notwithstanding the foregoing, in the event any Warranty transfer (other than a transfer of the Warranty relating to the
roof) requires the approval of the applicable warrantor and/or satisfaction of any other conditions to such transfer, Seller shall use reasonable efforts to obtain such approval and satisfy all such conditions no later than COE (as defined below) at
no cost to Seller, and provided that failure to deliver such approvals or satisfy such conditions shall not be a default by Seller hereunder or a condition to Purchaser’s obligations hereunder. With respect to the transfer of the Warranty
relating to the roof, Seller shall credit to Buyer at COE the amount of $500.00 and Buyer shall be responsible for obtaining the assignment of such roof Warranty post-COE. 

4.        PURCHASE PRICE.    The price to be paid by
Buyer to Seller for the Property is THREE MILLION EIGHT HUNDRED NINETY-SIX THOUSAND EIGHTY-ONE and NO/100 DOLLARS ($3,896,081.00) (the “Purchase Price”), payable as follows: 

(a)        One Hundred Thousand and No/100 Dollars ($100,000.00) earnest money
(said deposit, together with any and all interest earned or accrued thereon, the “Earnest Money Deposit”) to be deposited in escrow with First American Title National Commercial Services, The Esplanade Commercial Center, 2425 E.
Camelback Road, Suite 300, Phoenix, Arizona 85016, Attention: Brandon Grajewski (“Escrow Agent”) not later than five (5) business days following the receipt by Escrow Agent of a fully-executed original of this Agreement (said
receipt by Escrow Agent of both a fully-executed original of this Agreement and the Earnest Money Deposit, the “Opening of Escrow”), which Earnest Money Deposit is to be held by Escrow Agent until released to Seller or Buyer as
provided herein or paid to Seller at close of escrow (“COE”); and 

(b)        Three Million Seven Hundred Ninety-Six Thousand Eighty-One and No/100
Dollars ($3,796,081.00) in additional cash, or other immediately available funds (as may be increased or decreased by such sums as are required to take into account any additional deposits, prorations, credits, or other adjustments required by this
Agreement), to be deposited in escrow with Escrow Agent on or before COE, which sum is to be held by Escrow Agent until cancellation of this Agreement as provided herein or paid to Seller at COE. 

5.        DISPOSITION OF EARNEST MONEY
DEPOSIT.    Seller and Buyer hereby instruct Escrow Agent to place the Earnest Money Deposit in a federally insured interest-bearing passbook account on behalf of Seller and Buyer. The Earnest Money Deposit shall be applied
as follows: 
 (a)        if Buyer cancels this Agreement as Buyer is
so entitled to do as provided in this Agreement, the Earnest Money Deposit shall be paid immediately to Buyer; 

(b)        if the Earnest Money Deposit is forfeited by Buyer pursuant to this
Agreement, such Earnest Money Deposit shall be paid to Seller as Seller’s agreed and total liquidated damages, it being acknowledged and agreed that it would be difficult or impossible to determine Seller’s exact damages; and 

 (c)        if escrow closes, the
Earnest Money Deposit shall be credited to Buyer, automatically applied against the Purchase Price and paid to Seller at COE. 
 6.        PRELIMINARY TITLE REPORT AND OBJECTIONS.    (a)    Within ten (10) days after the Opening of Escrow,
Escrow Agent shall deliver a current Preliminary Title Report (the “Report”) for an ALTA extended coverage title insurance policy (the “Owner’s Policy”) on the Property to Buyer and Seller. The Report shall
show the status of title to the Property as of the date of the Report and shall also describe the requirements of Escrow Agent for the issuance of the Owner’s Policy as described herein. The cost of the standard Owner’s Policy shall be
paid by the Seller; provided, however, that any additional costs for an extended coverage policy, endorsements thereto, or any lender’s title policy shall be paid by Buyer. In addition to the Report, Escrow Agent shall simultaneously deliver to
Buyer legible copies of all documents identified in Part Two of Schedule B of the Report. 

(b)        If Buyer is dissatisfied with any exception to title as shown in the
Report and/or any matter disclosed by any survey delivered to Buyer as part of Seller’s Diligence Materials (collectively, the “Objectionable Matters”), then Buyer may either, by giving written notice thereof to Seller and Escrow
Agent on or before expiration of the Study Period (as defined below), (i) cancel this Agreement, whereupon the Earnest Money Deposit shall be returned to Buyer together with all documents deposited in escrow by Buyer, or (ii) provide
written notice to Seller of any such Objectionable Matters. Seller shall have the right, but not the obligation, to cure any such Objectionable Matters, provided that Seller shall have the obligation to pay and satisfy any mortgage, deed of trust,
or other monetary lien affecting the Property which arises from the act of Seller. Seller shall notify Buyer in writing within five (5) days after receiving Buyer’s written notice of disapproval or objection if Seller does not intend to
remove (or cause the Escrow Agent to endorse over to Buyer’s satisfaction) or otherwise cure any such Objectionable Matters. If Seller shall not respond within such 5-day period, Seller’s lack of response shall be deemed as confirmation
that Seller does not intend to cure the Objectionable Matters prior to COE. If written notice of dissatisfaction is not timely given by Buyer to Seller pursuant to this Section 6, then Buyer shall be deemed to have disapproved of the condition
of the title of the Property as shown by the Report, and shall have elected to terminate this Agreement, whereupon the Earnest Money Deposit shall be returned to Buyer and all other obligations under this Agreement shall terminate. In the event the
Report is amended by the Escrow Agent subsequent to the expiration of the Study Period to include new exceptions that are not set forth in a prior Report, Buyer shall have until the date that is five (5) days after Buyer’s receipt of the
amended Report and copies of the documents identified in the new exceptions or new requirements within which to cancel this Agreement and receive a refund of the Earnest Money Deposit or to provide written notice to Seller of any such Objectionable
Matters. Seller shall have the right, but not the obligation, to cure any such Objectionable Matters, provided that Seller shall have the obligation to pay and satisfy any mortgage, deed of trust, or other monetary lien affecting the Property which
arises from the act of Seller. Seller shall notify Buyer in writing within two (2) business days after receiving Buyer’s written notice of disapproval or objection if Seller does not intend to remove (or cause the Escrow Agent to endorse
over to Buyer’s satisfaction) or otherwise cure any such Objectionable Matters. If Seller shall not respond within such 2-day period, Seller’s lack of response shall be deemed as confirmation that Seller does not intend to cure the
Objectionable Matters prior to COE. If 

 
Seller does not agree to remove or otherwise cure any such Objectionable Matters which Seller has agreed to cure before COE, Buyer shall, within two (2) business days thereafter, notify
Seller and Escrow Agent in writing of Buyer’s election to either (i) terminate this Agreement, whereupon the Earnest Money Deposit shall be returned to Buyer and all other obligations under this Agreement shall terminate, or
(ii) Buyer may waive such Objectionable Matters and the transaction shall close as scheduled. If Seller agrees to remove or otherwise cure the Objectionable Matters but fails or is unable to do so by the scheduled COE date, or if Buyer
otherwise receives notice that Seller has failed or refused to remove or otherwise cure the Objectionable Matters after having agreed to do so, Buyer shall, within ten (10) days of either said COE date or its receipt of notice of such failure
or inability, notify Seller and Escrow Agent in writing of Buyer’s election to either (i) declare Seller to be in default under this Agreement and terminate this Agreement, whereupon the Earnest Money Deposit shall be returned to the
Buyer, Seller shall promptly reimburse Buyer for all reasonable and actual out-of-pocket costs incurred by Buyer after the date Seller evidenced its agreement to cure such Objectionable Matters and all other obligations under this Agreement shall
terminate, or (ii) waive such Objectionable Matters whereupon the transaction shall close five (5) business days after Buyer notifies Seller of such election. If written notice of such election is not timely given by Buyer pursuant to the
foregoing sentence, then Buyer shall be deemed to have elected to terminate this Agreement as set forth in such sentence. 
 7.        BUYER’S STUDY PERIOD. 
 (a)        The Study Period.  Buyer shall have until 11:59 p.m. MST on the later of (i) the thirtieth (30th) day after Buyer receives written notice from Seller that the
Improvements at the Property are substantially complete (including, without limitation, the completion of any paving improvements and striping); or (ii) March 1, 2012 (the “Study Period”), at Buyer’s sole cost, within
which to conduct and approve any investigations, studies or tests deemed necessary by Buyer, in Buyer’s sole discretion, to determine the feasibility of acquiring the Property, including, without limitation, Buyer’s right to:
(i) review and approve the Survey, the Lease, Seller’s operating statements with respect to the Property, and the Contracts; (ii) meet and confer with Tenant; and, (iii) obtain, review and approve an environmental study of the
Real Property and Building (collectively, “Buyer’s Diligence”). Buyer agrees that Buyer shall not contact Tenant directly, but shall coordinate all desired discussions with Tenant through Seller, Seller agreeing to use diligent
good faith efforts to arrange any such discussions. Buyer shall not perform any borings or other invasive tests upon the Property without the prior consent of Seller, which shall not be unreasonably withheld, conditioned or delayed. In addition to
the cancellation provisions of Section 7(c) below, Buyer shall have the right to terminate this Agreement in the event Seller has not provided written notice to Buyer that the Improvements are substantially complete prior to April 15,
2012, whereupon the Earnest Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement. 

(b)        Right of Entry.  Subject to the prior rights of the
Tenant of the Property, Seller hereby grants to Buyer and Buyer’s agents, employees and contractors the right to enter upon the Property, at any time or times prior to COE, to conduct Buyer’s Diligence. In consideration therefor, Buyer
shall and does hereby agree to indemnify and hold Seller harmless 

 
from any and all liabilities, claims, losses or damages asserted against Seller, including, but not limited to, court costs and attorneys’ fees, which may be incurred by Seller as a direct
result of Buyer’s Diligence. Buyer’s indemnity and hold harmless obligation shall survive cancellation of this Agreement or COE. 
 (c)        Cancellation.  Unless Buyer so notifies Seller or Escrow Agent, in writing, on or before the end of the Study Period of Buyer’s
acceptance of Buyer’s Diligence and waiver of the contingencies as set forth in this Section 7, this Agreement shall be canceled and the Earnest Money Deposit shall be returned immediately to Buyer and, except as otherwise provided in this
Agreement, neither of the Parties shall have any further liability or obligation under this Agreement. 

8.        DELIVERY OF SELLER’S DILIGENCE MATERIALS. 

(a)        Deliveries to Buyer.  Seller agrees to deliver to
Buyer contemporaneously with the Opening of Escrow all information in Seller’s possession or control listed on Exhibit H, attached hereto (collectively, “Seller’s Diligence Materials”), all at no cost to Buyer. Should
Seller receive new or updated written information regarding any of the matters set forth in this Section 8(a) after the Effective Date and prior to COE, Seller will use commercially reasonable efforts to immediately notify Buyer of such fact
and will promptly deliver complete copies thereof to Buyer. 

(b)        Delivery by Buyer.  If this Agreement is canceled
for any reason, except Seller’s willful default hereunder, Buyer agrees to deliver to Seller, upon written request from Seller and payment by Seller to Buyer of one-half of Buyer’s reasonable and actual cost of the item requested, copies
of any or all of those investigations, studies and/or tests which Buyer may have elected to obtain. 

9.        THE SURVEY.    Promptly after substantial
completion of the Improvements, Buyer shall cause a surveyor licensed in the State of Illinois to complete and deliver to Escrow Agent and Buyer a current, certified ALTA As-Built survey of the Real Property, Building and Improvements (the
“Survey”). In the event that the legal description taken from the Survey is not identical to the legal description set forth in Exhibit A attached hereto, Seller shall execute a quitclaim deed to Buyer at COE quitclaiming the legal
description taken from the Survey. The Survey shall set forth the legal description and boundaries of the Property and all easements, encroachments and improvements thereon. 

10.        IRS SECTION 1445.    Seller shall furnish
to Buyer in escrow by COE a sworn affidavit (the “Non-Foreign Affidavit”) stating under penalty of perjury that Seller is not a “foreign person” as such term is defined in Section 1445(f)(3) of the Internal Revenue
Code of 1986, as amended (the “Tax Code”). If Seller does not timely furnish the Non-Foreign Affidavit, Buyer may withhold (or direct Escrow Agent to withhold) from the Purchase Price an amount equal to the amount required to be so
withheld pursuant to Section 1445(a) of the Tax Code, and such withheld funds shall be deposited with the Internal Revenue Service as required by such Section 1445(a) and the regulations promulgated thereunder. The amount withheld, if any,
shall nevertheless be deemed to be part of the Purchase Price paid to Seller. 

 11.        DELIVERY OF
POSSESSION.  Seller shall deliver possession of the Property to Buyer at COE subject only to the rights of Tenant under the Lease as approved by Buyer as part of Buyer’s Diligence. 

12.        BUYER’S CONDITIONS PRECEDENT.    In
addition to all other conditions precedent set forth in this Agreement, Buyer’s obligations to perform under this Agreement and to close escrow are expressly subject to the following: 

 (a)        the delivery by Seller to Escrow Agent, for delivery to Buyer
at COE, of the executed original Transfer Documents; 

 (b)        the issuance of the Owner’s Policy (or a written
commitment therefor) subject only to those matters approved or deemed approved by Buyer pursuant to this Agreement; 
  (c)        the delivery by Seller to Buyer at COE of all pre-paid rents under the Lease, if any, in the form of a credit in favor of Buyer against the
Purchase Price; 
  (d)        the deposit by Seller with Buyer
not later than three (3) business days prior to COE of an original estoppel certificate in the form attached hereto as Exhibit I, dated not more than thirty (30) days prior to COE executed by Tenant naming Buyer (or its designee) and any
mortgage lender thereof which has been identified to Seller prior to delivery of such certificate to Tenant, and their respective successors and assigns as addressees and verifying the basic facts of the Lease (term, rental, expiration date,
options, if any exist) and confirming that there are no defaults by the landlord under the Lease, no unperformed or “punchlist” construction items and no unpaid tenant improvement allowances or leasing commissions, which certificate must
be reasonably acceptable to Buyer; 
  (e)        intentionally
deleted; 
  (f)        the deposit with Escrow Agent of an
executed final lien waiver by the general contractor, an executed affidavit of Seller and such other documentation as may be reasonably required by Escrow Agent to allow for the deletion of the mechanics’ lien exception from the Owner’s
Policy; 
  (g)        the delivery by Seller to Buyer of the
final certificate of occupancy, issued by the applicable governing authorities for the Improvements; 

 (h)        intentionally deleted; 

 (i)        the deposit with Escrow Agent of a letter from Seller to Tenant
requesting that future rent under the Lease be paid to Buyer; 

 (j)        intentionally deleted; 

 (k)        there has been no
“Insolvency Event” with respect to the Tenant. As used in this subsection (k), an “Insolvency Event” shall have occurred if the Tenant becomes insolvent within the meaning of the United States Bankruptcy Code, 11 U.S.C. Sec. 101
et seq., as amended (the “Bankruptcy Code”), files or notifies Seller or any affiliate of Seller that it intends to file a petition under the Bankruptcy Code, initiates a proceeding under any similar law or statute
relating to bankruptcy, insolvency, reorganization, winding up or adjustment of debts (collectively, hereinafter, an “Action”), becomes the subject of either a petition under the Bankruptcy Code or an Action, or is not generally
paying its debts as the same become due; 
 (l)        Tenant has
accepted possession of the Property and is contractually obligated to pay, and has commenced payment of, full rent pursuant to the Lease; 
 (m)        delivery to Buyer of the original, fully-executed Lease, and a copy of all guaranties thereof, all exhibits, amendments and other modifications thereto,
and, if seller is not the original landlord under the Lease, all assignments necessary to establish that Seller is the successor-in-interest to the landlord’s rights under the Lease; and 

(n)        delivery to Buyer of originals of the Contracts, Warranties and
Permits, if any, in the possession of Seller or Seller’s agents, including, without limitation, any warranties covering the roof or any other part of the Improvements, and any correspondence with respect thereto, together with such
non-proprietary leasing and property manuals, files and records which are material in connection with the continued operation, leasing and maintenance of the Property. 

If the foregoing conditions have not been satisfied by the specified date or COE as the case may be, then Buyer shall
have the right, at Buyer’s sole option, by giving written notice to Seller and Escrow Agent, to (i) cancel this Agreement, whereupon the Earnest Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise
provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement, or (ii) extend such specified date or COE, as applicable, for such amount of time as Buyer deems reasonably necessary to
allow Seller to satisfy such conditions. 
 13.        SELLER’S
REPRESENTATIONS WARRANTIES AND COVENANTS.  Seller hereby represents, warrants and covenants to Buyer as of the Effective Date and again as of COE that: 

(a)        Seller has not entered into any unrecorded leases of the Property
(other than the Lease); any existing financing of Seller secured by the Property or any part thereof shall be satisfied and discharged in full at or prior to COE and any liens or encumbrances relating thereto shall be terminated and released of
record at or prior to COE; and Seller does not have any defeasance, lender approval or prepayment obligations with respect to any existing financing which will delay the originally-scheduled COE, and Seller has no actual knowledge of any unrecorded
agreements which affect title to the Property except for those documents described in Exhibit J attached hereto; 
 (b)        to Seller’s actual knowledge, Seller has received no written notice of any violation with regard to any applicable regulation, ordinance,
requirement, covenant, condition 

 
or restriction relating to the present use or occupancy of the Property by any person, authority or agency having jurisdiction; 

(c)        to Seller’s actual knowledge, Seller has received no written
notice of any intended public improvements which will result in any charges being assessed against the Property which will result in a lien upon the Property; 
 (d)        to Seller’s actual knowledge, Seller has received no written notice of any pending condemnation or taking by inverse condemnation of the Property,
or any portion thereof, by any governmental authorities; 

(e)        to Seller’s actual knowledge, Seller has received no written
notice of any suits or claims pending or threatened with respect to the Property; 

(f)        Seller has not entered into any other agreement, written or oral,
under which Seller is obligated to sell the Property, or any portion thereof, to a third party and Seller will not enter into nor execute any such agreement during the term of this Agreement without Buyer’s prior written consent; 

(g)        Seller has not and will not, without the prior written consent of
Buyer, take any action before any governmental authority having jurisdiction thereover, the object of which would be to change the present zoning of the Property, or any portion thereof, or its potential use, and, to Seller’s actual knowledge,
Seller has received no written notice of any pending proceedings, the object of which would be to change the present zoning or other land-use limitations; 
 (h)        this transaction will not in any way violate any other agreements to which Seller is a party, and Seller has not granted to Tenant any right of first
refusal, right of first offer, or similar right or option to purchase the Property; 

(i)        Seller has full power and authority to execute, deliver and perform
under this Agreement as well as under the Transfer Documents, specimens of which are attached hereto as Exhibits; 
 (j)        no default of Seller exists under the Lease and, to Seller’s knowledge, no default of Tenant exists under the Lease; Seller has not received any
notice or correspondence from Tenant or any of such Tenant’s agents indicating Tenant’s desire, willingness or intent to terminate the Lease, nor has Seller had any material written exchanges with Tenant regarding any Tenant desire to
modify the Lease; 
 (k)        to the extent Seller is the original
landlord under the Lease, the Lease was negotiated in an arms-length transaction; 

(l)        to Seller’s actual knowledge, Seller has received no written
notice of any default of Seller under any of the Contracts and, to Seller’s actual knowledge, no default of the other parties exists under any of the Contracts; 

 (m)        no consent of any third
party is required in order for Seller to enter into this Agreement and perform Seller’s obligations hereunder; 
 (n)        except for any items to be prorated at COE in accordance with this Agreement or that are the exclusive obligation of Tenant under the Lease, all bills or
other charges, costs or expenses arising out of or in connection with or resulting from Seller’s use, ownership, or operation of the Property up to COE shall be paid in full by Seller; 

(o)        intentionally deleted; 

(p)        from the Effective Date hereof until COE or the earlier termination
of this Agreement, Seller shall (i) operate and maintain the Property in a manner generally consistent with the manner in which Seller has operated and maintained the Property prior to the date hereof, and shall perform in all material
respects, its obligations under the Lease, (ii) not amend, modify or waive any material rights under the Lease, and (iii) maintain the existing or comparable insurance coverage, if any, for the Improvements which Seller is obligated to
maintain under the Lease; 
 (q)        Except as set forth in that
certain report prepared by Environmental Protection Industries, dated August 19, 2011 (the “Environmental Report”) to be provided to Buyer as a part of Seller’s Diligence Materials, Seller has no actual knowledge that
there exists or has existed, and to Seller’s actual knowledge Seller itself has not caused any generation, production, location, transportation, storage, treatment, discharge, disposal, or release upon, under or about the Property of any
Hazardous Materials in violation of any applicable law or regulation. “Hazardous Materials” shall mean any flammables, explosives, radioactive materials, hazardous wastes, hazardous and toxic substances or related materials,
asbestos or any material containing asbestos (including, without limitation, vinyl asbestos tile), or any other substance or material, defined as a “hazardous substance” by any federal, state, or local environmental law, ordinance, rule or
regulation including, without limitation, the Federal Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, the Federal Hazardous Materials Transportation Act, as amended, the Federal Resource Conservation and
Recovery Act, as amended, and the rules and regulations adopted and promulgated pursuant to each of the foregoing; 
 (r)        Except as set forth in the Environmental Report, Seller has no actual knowledge that there is now, or has ever been, on or in the Property underground
storage tanks, any asbestos-containing materials or any polychlorinated biphenyls, including those used in hydraulic oils, electric transformers, or other equipment. Seller hereby assigns to Buyer, effective as of COE, all claims, counterclaims,
defenses, or actions, whether at common law, or pursuant to any other applicable federal or state or other laws which Seller may have against any third parties relating to the existence of any Hazardous Materials in, at, on, under or about the
Property (including Hazardous Materials released on the Property prior to COE and continuing in existence on the Property at COE); 
 (s)        intentionally deleted; 

 (t)        should Seller receive
written notice or obtain actual knowledge of any information regarding any of the matters set forth in this Section 13 after the Effective Date and prior to COE which would render these matters materially inaccurate, Seller will use
commercially reasonable efforts to immediately notify Buyer of the same in writing; 

(u)        the execution, delivery and performance of this Agreement and the
Transfer Documents, specimens of which are attached hereto as Exhibits, have not and will not constitute a breach or default under any other agreement, law or court order under which Seller is a party or may be bound; and 

(v)        Seller shall cooperate with Buyer in preparing and delivering
subordination agreements to the extent the same are obtainable under the terms of the Lease. After such subordination agreements are delivered to Tenant, Seller shall use commercially reasonable efforts to assist Buyer in obtaining executed
subordination agreements prior to the COE; provided, however, that in no event shall Seller be required by the foregoing to pay any sums (or incur any other liability) to Tenant in connection with its attempts to obtain such
subordination agreements. Notwithstanding any provision contained in this Agreement to the contrary, it shall not be a condition to Buyer’s obligations hereunder that any subordination agreements be obtained. 

(w)        all representations made in this Agreement by Seller shall survive
the execution and delivery of this Agreement and COE for a period of twelve (12) months. Seller shall and does hereby indemnify against and hold Buyer harmless from any loss, damage, liability and expense, together with all court costs and
attorneys’ fees which Buyer may incur, by reason of any material misrepresentation by Seller or any material breach of any of Seller’s warranties. Seller’s indemnity and hold harmless obligations shall survive COE for a period of
twelve (12) months. 
 (x)        For purposes of this Agreement,
the phrase “to Seller’s actual knowledge” or any variation thereof shall mean the actual, current knowledge of Robert S. Rakusin and Sean G. Tyrrell (the “Notice Parties”). Seller represents that the Notice Parties are the
individuals employed by Seller who have most familiarity and best knowledge with respect to the matters set forth in this Section 13. 
 14.        BUYER’S REPRESENTATIONS WARRANTIES AND COVENANTS.  Buyer hereby represents to Seller as of the Effective Date and again as of COE
that: 
   (a)        Buyer has full power and authority to
execute, deliver and perform under this Agreement as well as under the Transfer Documents; 

  (b)        there are no actions or proceedings pending or to
Buyer’s knowledge, threatened against Buyer which may in any manner whatsoever affect the validity or enforceability of this Agreement or any of the Transfer Documents; 

   (c)        the
execution, delivery and performance of this Agreement and the Transfer Documents, have not and will not constitute a breach or default under any other agreement, law or court order under which Buyer is a party or may be bound; 

  (d)        should Buyer receive notice or knowledge of any
information regarding any of the matters set forth in this Section 14 after the Effective Date and prior to COE, Buyer will promptly notify Seller of the same in writing; and 

  (e)        all representations made in this Agreement by Buyer shall
survive the execution and delivery of this Agreement and COE for a period of twelve (12) months. Buyer shall and does hereby indemnify against and hold Seller harmless from any loss, damage, liability and expense, together with all court costs
and attorneys’ fees, if awarded by a court of law, which Seller may incur, by reason of any material misrepresentation by Buyer or any material breach of any of Buyer’s warranties. Buyer’s indemnity and hold harmless obligations shall
survive COE for a period of twelve (12) months. 

15.        RENTS AND DEPOSITS.    Seller and Buyer
agree that, in addition to all other conditions and covenants contained herein, Seller shall deliver to Buyer and Escrow Agent not later than the day immediately prior to COE information, certified by Seller to be true and accurate as of the date
thereof and as of the date of COE, with respect to (i) the amount of Tenant’s security deposit under the Lease, if any, and (ii) prepaid and/or abated rents, including, without limitation, the amount thereof and the date to which such
rents have been paid. 
 16.        BROKER’S
COMMISSION.    Concerning any brokerage commission, the Parties agree as follows: 

  (a)        the Parties warrant to one another that they have not
dealt with any finder, broker or realtor in connection with this Agreement; and 

  (b)        if any person shall assert a claim to a finder’s fee
or brokerage commission on account of alleged employment as a finder or broker in connection with this Agreement, the Party under whom the finder or broker is claiming shall indemnify and hold the other Party harmless from and against any such claim
and all costs, expenses and liabilities incurred in connection with such claim or any action or proceeding brought on such claim, including, but not limited to, counsel and witness fees and court costs in defending against such claim. The provisions
of this subsection shall survive cancellation of this Agreement or COE. 

17.        CLOSE OF ESCROW.    COE shall be on or
before 5:00 p.m. MST on the fifteenth (15th) day
after the expiration of the Study Period, or such earlier date as Buyer may choose by giving not less than five (5) days prior written notice to Seller and Escrow Agent (the “Closing Date”). 

18.        ASSIGNMENT.    This Agreement may not be
assigned by Seller without the prior written consent of Buyer which consent shall not be unreasonably withheld. Buyer may assign its rights under this Agreement to an affiliate of Buyer without seeking or obtaining Seller’s consent, and Buyer
shall not assign its rights hereunder to any other party without the prior 

 
written consent of Seller, which may be granted or withheld at Seller’s discretion. Such assignment shall not become effective until the assignee executes an instrument whereby such assignee
expressly assumes each of the obligations of Buyer under this Agreement, including specifically, without limitation, all obligations concerning the Earnest Money Deposit. No assignment shall release or otherwise relieve Buyer from any obligations
hereunder; provided, however, with respect to any assignment, if COE occurs the assigning party (but not the assignee) shall be relieved of all its obligations arising under this Agreement before, on and after COE. 

19.        RISK OF LOSS.    Seller shall bear all risk
of loss, damage or taking of the Property which may occur prior to COE. In the event of any material loss, damage or taking prior to COE, Buyer may, at Buyer’s sole option, by written notice to Seller and Escrow Agent, cancel this Agreement
whereupon the Earnest Money Deposit shall be paid immediately by Escrow Agent to Buyer and, except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation hereunder. In the event of any loss,
damage or taking which does not result in a termination of this Agreement, Seller shall at COE and as a condition precedent thereto, pay Buyer or credit Buyer against the Additional Funds the amount of any insurance or condemnation proceeds, or
assign to Buyer, as of COE and in a form acceptable to Buyer, all rights or claims for relief to the same. For purposes of this Section, a “material” loss, damage or taking shall be one which either (a) exceeds $100,000.00, or
(b) gives the Tenant the right to terminate the Lease or abate rent thereunder. 

20.        REMEDIES. 

  (a)    Seller’s Breach.  If Seller breaches this Agreement
(including, without limitation, a breach of any representation or warranty of Seller set forth herein and/or the failure of Seller to satisfy any conditions precedent to COE specified in Section 12 above that are solely within Seller’s
control) and fails to cure such breach within five (5) business days after receipt of notice thereof from Buyer, Buyer may, at Buyer’s sole option, either: (i) by written notice to Seller and Escrow Agent, cancel this Agreement
whereupon the Earnest Money Deposit shall be paid immediately by Escrow Agent to Buyer, Seller shall promptly reimburse to Buyer its reasonable out-of-pocket and third-party property diligence expenses and, except as otherwise provided in this
Agreement, neither of the Parties shall have any further liability or obligation hereunder; (ii) extend the date scheduled for COE for such reasonable period of time as may be required to permit Seller to cure or remedy such breach (provided
such period of time shall not exceed thirty (30) days unless such greater period of time is agreed to in writing by Seller); or (iii) seek specific performance against Seller in which event COE shall be automatically extended as necessary,
Buyer hereby waiving any right to seek damages against Seller except as set forth in the following sentence. Notwithstanding the foregoing, if specific performance is unavailable as a remedy to Buyer because of Seller’s affirmative act or
intentional omission, or if specific performance is not a commercially reasonable available remedy because Buyer’s commitments from its lenders (if any) have expired or are likely to expire before such an action can be prosecuted to conclusion
and Seller’s default is a result of Seller’s affirmative act or intentional omission, Buyer shall be entitled to pursue Seller for actual damages incurred as a result of such default, such amount not to exceed the amount of any reasonable
loan commitment 

 
fee paid by Buyer to such lenders, plus the reasonable, out-of-pocket and third party expenses incurred by Buyer. 

  (b)        Buyer’s Breach.  If Buyer breaches
this Agreement and fails to cure such breach within five (5) business days after receipt of notice thereof from Seller, as its sole remedy Seller shall be entitled to retain the Earnest Money Deposit in accordance with subsection 5(b) as
Seller’s agreed and total liquidated damages. Seller hereby waives any right to seek any equitable or legal remedies against Buyer. 
 21.        ATTORNEYS’ FEES.  If there is any litigation to enforce any provisions or rights arising under this Agreement, the unsuccessful
party in such litigation, as determined by the court, agrees to pay the successful party, as determined by the court, all costs and expenses, including, but not limited to, reasonable attorneys’ fees incurred by the successful party, such fees
to be determined by the court. For purposes of this Section 21, a party will be considered to be the “successful party” if (a) such party initiated the litigation and substantially obtained the relief which it sought (whether by
judgment, voluntary agreement or action of the other party, trial, or alternative dispute resolution process), (b) such party did not initiate the litigation and either (i) received a judgment in its favor, or (ii) did not receive
judgment in its favor, but the party receiving the judgment did not substantially obtain the relief which it sought, or (c) the other party to the litigation withdrew its claim or action without having substantially received the relief which it
was seeking. 
 22.        NOTICES. 

  (a)        Addresses.  Except as otherwise required
by law, any notice required or permitted hereunder shall be in writing and shall be given by personal delivery, or by deposit in the U.S. Mail, certified or registered, return receipt requested, postage prepaid, addressed to the Parties at the
addresses set forth below, or at such other address as a Party may designate in writing pursuant hereto, or telecopy (fax), or any express or overnight delivery service (e.g., Federal Express), delivery charges prepaid: 

 

					
	 if to Seller:
	  	 FS Harvey, LLC
	  	
		  	 3333 Riverwood Parkway, Suite 200
 Atlanta, GA 30339
	  	
		  	 Attn:     Rob Rakusin
	  	
		  	 Tel.:     (404) 233-0204
	  	
		  	 Fax:     (678) 391-9936
	  	
			
	 with copies to:
	  	 Hartman Simons & Wood LLP
	  	
		  	 6400 Powers Ferry Road NW, Suite 400
	  	
		  	 Atlanta, Georgia 30339
	  	
		  	 Attn: A. Summey Orr III
	  	
		  	 Phone: 770-980-4410
	  	
		  	 Fax: 678-391-9936
	  	
		  	 Email: summey.orr@hartmansimons.com
	  	

					
	 if to Buyer:
	  	 Series C, LLC
	  	
		  	 c/o Cole Real Estate Investments
	  	
		  	 2555 E. Camelback Road, Suite 400
	  	
		  	 Phoenix, AZ 85016
	  	
		  	 Attn:     Legal Department
	  	
		  	 Tel.:     (602) 778-8700
	  	
		  	 Fax:     (480) 449-7012
	  	
			
	 with copies to:
	  	 Snell & Wilmer L.L.P.
	  	
		  	 One Arizona Center
	  	
		  	 400 E. Van Buren Street
	  	
		  	 Phoenix, AZ 85004
	  	
		  	 Attn:     J. Craig Cartwright
	  	
		  	 Tel.:     (602) 382-6066
	  	
		  	 Fax:     (602) 382-6070
	  	
			
	 If to Escrow Agent:
	  	 First American Title Insurance Company
	  	
		  	 2425 E. Camelback Road, Suite 400
	  	
		  	 Phoenix, AZ 85016
	  	
		  	 Attn:     Mr. Brandon Grajewski
	  	
		  	 Tel.:     (602) 567-8145
	  	
		  	 Fax:     (602) 567-8101
	  	

 (b)        Effective Date of
Notices.  Notice shall be deemed to have been given on the date on which notice is delivered, if notice is given by personal delivery or telecopy, and on the date of deposit in the mail, if mailed or deposited with the overnight
carrier, if used. Notice shall be deemed to have been received (i) on the date on which the notice is received, if notice is given by telecopy or personal delivery, (ii) on the first business day following deposit with an overnight
carrier, if used, and (iii) on the second (2nd) day following deposit in the U.S. Mail, if notice is mailed. If escrow has opened, a copy of any notice given to a party shall also be given to Escrow Agent by regular U.S. Mail or by any
other method provided for herein. 
 23.        CLOSING COSTS.

   (a)        Closing Costs.  Seller and
Buyer agree to pay closing costs as indicated in this Agreement and in the escrow instructions attached hereto as Exhibit G, and by this reference incorporated herein (the “Escrow Instructions”).    At COE,
Seller shall pay (i) the costs of releasing all liens, judgments, and other encumbrances that are required to be paid and satisfied by Seller hereunder and of recording such releases, (ii) one-half the fees and costs due Escrow Agent for
its services, (iii) the transfer tax associated with the sale of the Property, if any, (iv) the cost of the Survey, and (v) all other costs to be paid by Seller under this Agreement. At COE, Buyer shall pay (i) one-half the fees
and costs due Escrow Agent for its services, and (ii) all other costs to be paid by Buyer under this Agreement. Except as otherwise provided for in this Agreement, Seller and Buyer will each be solely responsible for and bear all of their own
respective expenses, including, without limitation, expenses of legal counsel, accountants, and 

 
other advisors incurred at any time in connection with pursuing or consummating the transaction contemplated herein. 

  (b)        Prorations.  Real estate taxes shall be
prorated on a “cash basis” pursuant to the provisions of this section. Real estate taxes for the Property are assessed in arrears, so that taxes for the year in which Closing occurs, 2012, will not be assessed, or payable, until 2013. As
such, Purchaser and Seller agree that at Closing, real estate taxes shall be prorated based on the amounts payable in 2012, notwithstanding that such amounts represent taxes assessed for the Properties for the tax year 2011. Provided that Buyer
receives a written acknowledgement from Tenant (which acknowledgement may be included in the estoppel referenced in Section 12(d) above) that it is obligated under the Lease to pay real estate taxes commencing on March 1, 2012 (despite the
fact that such taxes will relate to a period prior to March 1, 2012), at such time during 2012 or thereafter as tax bills are issued for the year 2012, Purchaser, its successors and assigns shall assume all liability for payment of such taxes,
and Seller shall have no such liability. All other prorations shall be calculated through escrow as of COE based upon the latest available information, including, without limitation, a credit to Buyer for any rent prepaid by Tenant for the period
beginning with and including the date on which the closing occurs through and including the last day of the month in which the closing occurs. All other credits to Buyer shall be similarly prorated. Any other closing costs not specifically
designated as the responsibility of either Party in the Escrow Instructions or in this Agreement shall be paid by Seller and Buyer according to the usual and customary allocation of the same by Escrow Agent. Seller agrees that all closing costs
payable by Seller shall be deducted from Seller’s proceeds otherwise payable to Seller at COE. Buyer shall deposit with Escrow Agent sufficient cash to pay all of Buyer’s closing costs. Except as provided in this Section 23(a), Seller
and Buyer shall each bear their own costs in regard to this Agreement. 

  (c)        Post-Closing Adjustment.  If after COE,
the parties discover any errors in adjustments and apportionments or additional information becomes available which would render the closing prorations materially inaccurate (including, without limitation, an increase in real estate taxes resulting
from a re-assessment or increased taxable valuation of the Premises), the same shall be corrected as soon after their discovery as possible. The provision of this Section 23(c) shall survive COE except that no adjustment shall be made later
than twelve (12) months after COE unless prior to such date the Party seeking the adjustment shall have delivered a written notice to the other Party specifying the nature and basis for such claim. In the event that such claim is valid, the
Party against whom the claim is sought shall have ten (10) days in which to remit any adjustment due. 

  (d)        Instructions.  This Agreement, together
with the Escrow Instructions, shall constitute escrow instructions for the transaction contemplated herein. Such escrow instructions shall be construed as applying principally to Escrow Agent’s employment. 

  (e)        Survival.  The provisions of this
Section 23 shall survive COE for a period of twelve (12) months after COE. 

24.        ESCROW CANCELLATION CHARGES.  If escrow fails to
close because of Seller’s default, Seller shall be liable for any cancellation charges of Escrow Agent. If escrow 

 
fails to close because of Buyer’s default, Buyer shall be liable for any cancellation charges of Escrow Agent. If escrow fails to close for any other reason, Seller and Buyer shall each be
liable for one-half of any cancellation charges of Escrow Agent. The provisions of this Section 24 shall survive cancellation of this Agreement. 
 25.        APPROVALS.  Concerning all matters in this Agreement requiring the consent or approval of any Party, the Parties agree that any such
consent or approval shall not be unreasonably withheld unless otherwise provided in this Agreement. 

26.        INTENTIONALLY DELETED. 

27.        ADDITIONAL ACTS.    The Parties agree to
execute promptly such other documents and to perform such other acts as may be reasonably necessary to carry out the purpose and intent of this Agreement. 
 28.        GOVERNING LAW.    This Agreement shall be governed by and construed or enforced in accordance with the laws of the State of
Illinois. 
 29.        CONSTRUCTION.    The
terms and provisions of this Agreement represent the results of negotiations among the Parties, each of which has been represented by counsel of its own choosing, and neither of which has acted under any duress or compulsion, whether legal, economic
or otherwise. Consequently, the terms and provisions of this Agreement shall be interpreted and construed in accordance with their usual and customary meanings, and the Parties each hereby waive the application of any rule of law which would
otherwise be applicable in connection with the interpretation and construction of this Agreement that ambiguous or conflicting terms or provisions contained in this Agreement shall be interpreted or construed against the Party whose attorney
prepared the executed Agreement or any earlier draft of the same. 

30.        TIME OF ESSENCE.  Time is of the essence of this
Agreement. However, if this Agreement requires any act to be done or action to be taken on a date which is a Saturday, Sunday or legal holiday, such act or action shall be deemed to have been validly done or taken if done or taken on the next
succeeding day which is not a Saturday, Sunday or legal holiday, and the successive periods shall be deemed extended accordingly. 
 31.        INTERPRETATION.  If there is any specific and direct conflict between, or any ambiguity resulting from, the terms and provisions of this
Agreement and the terms and provisions of any document, instrument or other agreement executed in connection herewith or in furtherance hereof, including any Exhibits hereto, the same shall be consistently interpreted in such manner as to give
effect to the general purposes and intention as expressed in this Agreement which shall be deemed to prevail and control. 
 32.        HEADINGS.  The headings of this Agreement are for reference only and shall not limit or define the meaning of any provision of this
Agreement. 

 33.        FAX AND
COUNTERPARTS.  This Agreement may be executed by facsimile, by email (in “.pdf” format) and/or in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together
shall constitute one and the same instrument. 

34.        INCORPORATION OF EXHIBITS BY
REFERENCE.    All Exhibits to this Agreement are fully incorporated herein as though set forth at length herein. 
 35.        SEVERABILITY.    If any provision of this Agreement is unenforceable, the remaining provisions shall nevertheless be kept in
effect. 
 36.        ENTIRE AGREEMENT.  This Agreement
contains the entire agreement between the Parties and supersedes all prior agreements, oral or written, with respect to the subject matter hereof. The provisions of this Agreement shall be construed as a whole and not strictly for or against any
Party. 
 37.        INDEMNITY.  Seller shall
indemnify, hold harmless and defend Buyer, Buyer’s affiliates, the partners, trustees, shareholders, directors, officers, attorneys, employees and agents of each of them, and their respective heirs, successors, personal representatives and
assigns (collectively, the “Indemnified Parties”) from any and all demands, claims (including, without limitation, causes of action in tort), legal or administrative proceedings, losses, liabilities, damages, penalties, fines,
liens, judgments, costs or expenses whatsoever (including, without limitation, attorneys’ fees and costs), whether direct or indirect, known or unknown, foreseen or unforeseen (collectively, “Claims”) that may arise on account of or
in any way be connected with any actions, suits, proceedings or claims brought by third parties against Buyer (a) relating to any actual or alleged events, acts or omissions occurring with respect to the Property prior to COE, and/or
(b) based upon Buyer’s ownership of the Property but with respect to which the claimed loss, damage or injury occurred prior to COE. Buyer shall indemnify, hold harmless and defend Seller, Seller’s affiliates, the partners, trustees,
shareholders, directors, officers, attorneys, employees and agents of each of them, and their respective heirs, successors, personal representatives and assigns from any and all Claims that may arise on account of or in any way be connected with any
actions, suits, proceedings or claims brought by third parties against Seller (y) relating to any actual or alleged events, acts or omissions occurring with respect to the Property from and after COE, and/or (z) based upon Seller’s
ownership of the Property but with respect to which the claimed loss, damage or injury occurred from and after COE. The provisions of this Section 37 shall survive COE for a period of one (1) year. 

38.        INTENTIONALLY DELETED. 

39.        PUNCHLIST HOLDBACK.  If the estoppel certificate
executed by the Tenant pursuant to Section 12 indicates that there are any punchlist items (“Punchlist Items”) still to be completed by Seller and if, prior to COE, Tenant has not confirmed to Seller in writing that such items
have been completed to Tenant’s reasonable satisfaction, then at COE Buyer and Seller agree to escrow an amount equal to One Hundred Twenty-Five Percent (125%) of the estimated cost to cure all Punchlist Items yet uncured as of COE (such
cost to be estimated by Seller’s general contractor or architect, subject to Buyer’s reasonable approval of such estimate) (the 

 
“Punchlist Escrow”). The Punchlist Escrow shall be retained by the Escrow Agent from the Purchase Price paid by Buyer and shall be held by the Escrow Agent or other agreed upon
escrow agent pursuant to the terms of an escrow agreement executed by Buyer, Seller and the escrow agent, which shall provide, in part, for release of applicable portions of the Punchlist Escrow to Seller upon written confirmation from Tenant of
completion of each of the Punchlist Items and as more particularly set forth below. Buyer and Seller shall use good faith efforts to agree upon the form of escrow agreement during the Study Period. 

After Closing, Seller and its agents and contractors shall have access to the Property to complete the Punchlist Items,
subject to the rights of Tenant under the Lease. If Buyer has not received such written confirmation from Tenant that all such items have been completed to Tenant’s reasonable satisfaction within ninety (90) days following COE (the
“Punchlist Cure Deadline”), or if Seller has received notice from Tenant that Seller is in default of its obligations with respect to the Punchlist Items pursuant to the Lease, then Buyer shall be entitled, but not obligated, to
undertake the cure of any remaining Punchlist Items and in connection therewith shall be entitled to retain up to the entire balance of the Punchlist Escrow upon presentation to Seller of invoices and other receipts for expenses reasonably incurred
in connection therewith. Further, upon presentation by Buyer of evidence reasonably satisfactory to Seller that Buyer expended amounts in excess of the amount of the Punchlist Escrow to complete such Punchlist Items, Seller shall pay or cause to be
paid to Buyer an amount equal to such excess within fifteen (15) days after receipt of such evidence. Notwithstanding the foregoing, in the event Seller reasonably demonstrates to Buyer that the Punchlist Items have been completed prior to the
expiration of the Punchlist Cure Deadline and that the failure of Buyer to receive written confirmation from Tenant of such completion is due to Tenant’s delay in reviewing the Punchlist Items, then the Punchlist Cure Deadline shall be extended
until Tenant completes its review of the Punchlist Items and issues its confirmation (or disapproval) of such Punchlist Items and Seller is afforded such additional time as is permitted pursuant to the Lease to complete the remaining Punchlist
Items. In addition, the Punchlist Cure Deadline shall be extended on a day-for-day basis for each day of Seller’s delay in completing the Punchlist Items that is caused by any event or condition beyond the reasonable control of Seller,
including inclement weather or shortage of materials. 
  

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

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

									
	 SELLER:
	 		 	 FS HARVEY, LLC,

		 		 	 a Georgia limited liability company

				
		 		 	 By:
	 	 /s/ Robert S. Rakusin

		 		 		 	 Name:
	 	 Robert S. Rakusin

		 		 		 	 Its:
	 	 President

			
	 BUYER:
	 		 	 SERIES C, LLC,

		 		 	 an Arizona limited liability company

				
		 		 	 By:
	 	 /s/ Todd J. Weiss

		 		 		 	 Name:
	 	 Todd J. Weiss

		 		 		 	 Its:
	 	 Authorized Officer

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