Document:

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                                                                     Exhibit 4.1

                                 OFFICEMAX, INC.
                            2001 AMENDED AND RESTATED
                             EQUITY-BASED AWARD PLAN
                          (AS AMENDED NOVEMBER 8, 2001)

SECTION 1. PURPOSE; DEFINITIONS.

         The purpose of the OfficeMax, Inc. Amended and Restated Equity-Based
Award Plan (the "Plan") is to enable OfficeMax, Inc. (the "Company") to attract,
retain and reward members of the Board of Directors of the Company and key
employees of and consultants to the Company and its Subsidiaries and Affiliates
and to strengthen the mutuality of interests among those directors, key
employees and consultants and the Company's shareholders by offering designated
directors and employees equity or equity-based incentives. For purposes of the
Plan, the following terms are defined as follows:

                  (a) "Affiliate" means any entity (other than the Company and
                  any Subsidiary) that is designated by the Board as a
                  participating employer under the Plan.

                  (b) "Award" means any award of Stock Options, Share
                  Appreciation Rights or Restricted Shares under the Plan.

                  (c) "Board" means the Board of Directors of the Company.

                  (d) "Change in Control" has the meaning set forth in Section
                  8(b).

                  (e) "Change in Control Price" has the meaning set forth in
                  Section 8(d).

                  (f) "Code" means the Internal Revenue Code of 1986, as amended
                  from time to time, and any successor thereto.

                  (g) "Committee" means the Committee referred to in Section 2
                  of the Plan.

                  (h) "Company" means OfficeMax, Inc., an Ohio corporation, or
                  any successor corporation.

                  (i) "Disability" means disability as defined in Section
                  422(c)(6) of the Code.

                  (j) "Exchange Act" means the Securities Exchange Act of 1934,
                  as amended.

                  (k) "Fair Market Value" means the closing selling price,
                  regular way, of the Shares on the New York Stock Exchange on
                  the trading date immediately preceding the date of grant (or,
                  if the Shares no longer trade on the New York Stock Exchange,
                  any other national exchange). If the Shares are no longer
                  traded on any national exchange, then the Fair Market Value of
                  the Shares as of any date is the value determined for that
                  date by the Committee in good faith.

                  (l) "Incentive Stock Option" means any Stock Option intended
                  to be and designated as, and that otherwise qualifies as, an
                  "Incentive Stock Option," within the meaning of Section 422 of
                  the Code or any successor section thereto.

                  (m) "Non-Qualified Stock Option" means any Stock Option that
                  is not an Incentive Stock Option.

                  (n) "Plan" means the OfficeMax, Inc. Amended and Restated
                  Equity-Based Award Plan, as amended from time to time.

                  (o) "Potential Change in Control" has the meaning set forth in
                  Section 8(c).

                  (p) "Restricted Shares" means an award of shares that is
                  granted pursuant to Section 7 and is subject to restrictions.

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                  (q) "Section 16 Participant" means a participant under the
                  Plan who is subject to Section 16 of the Exchange Act.

                  (r) "Share Appreciation Right" means an award of a right to
                  receive an amount from the Company that is granted pursuant to
                  Section 6.

                  (s) "Shares" means Common Shares, without par value, of the
                  Company and any other class of shares or series of a class of
                  shares of the Company now or hereafter authorized.

                  (t) "Stock Option" or "Option" means any option to purchase
                  Shares (including Restricted Shares, if the Committee so
                  determines) that is granted pursuant to Section 5.

                  (u) "Subsidiary" means any corporation (other than the
                  Company) in an unbroken chain of corporations beginning with
                  the Company if each of the corporations (other than the last
                  corporation in the unbroken chain) owns stock possessing 50%
                  or more of the total combined voting power of all classes of
                  stock in one of the other corporations in that chain.

SECTION 2. ADMINISTRATION.

         The Plan shall be administered by the Compensation Committee of the
Board (the "Committee"). The Committee shall consist of not less than three
directors of the Company. Those directors shall be appointed by the Board and
shall serve as the Committee at the pleasure of the Board. The functions of the
Committee specified in the Plan shall be exercised by the Board if and to the
extent that no Committee exists that has the authority to so administer the
Plan.

         The Committee shall have full power to interpret and administer the
Plan and full authority to select the individuals to whom Awards will be granted
and to determine the type and amount of any Award to be granted to each
participant, the consideration, if any, to be paid for any Award, the timing of
each Award, the terms and conditions of any Award granted under the Plan and the
terms and conditions of the related agreements that will be entered into with
participants. As to the selection of and grant of Awards to participants who are
not Section 16 Participants, the Committee may delegate its responsibilities to
members of the Company's management in any manner consistent with applicable
law.

         The Committee shall have the authority to adopt, alter and repeal such
rules, guidelines and practices governing the Plan as it shall, from time to
time, deem advisable; to interpret the terms and provisions of the Plan and any
Award issued under the Plan (and any agreement relating thereto); to direct
employees of the Company or other advisors to prepare such materials or perform
such analyses as the Committee deems necessary or appropriate; and otherwise to
supervise the administration of the Plan.

         Any interpretation or administration of the Plan by the Committee, and
all actions and determinations of the Committee, shall be final, binding and
conclusive on the Company, its shareholders, Subsidiaries, Affiliates, all
participants in the Plan, their respective legal representatives, successors and
assigns, and all persons claiming under or through any of them. No member of the
Board or of the Committee shall incur any liability for any action taken or
omitted, or any determination made, in good faith in connection with the Plan.

SECTION 3. SHARES SUBJECT TO THE PLAN.

                  (a) Aggregate Shares Subject to the Plan. Subject to
                  adjustment as provided in Section 3(c), the total number of
                  Shares reserved and available for Awards under the Plan is
                  26,000,000 (including Shares issued under either the Amended
                  and Restated Equity-Based Award Plan (1998) or the Year 2000
                  Equity Incentive Plan from the reserved and available Shares
                  under such plans). Any Shares issued hereunder may consist, in
                  whole or in part, of authorized and unissued shares or
                  treasury shares; provided, that no more than 17,000,000 shares
                  issued hereunder shall be newly issued Shares and any
                  remaining Shares issued hereunder shall be treasury shares.

                  (b) Forfeiture or Termination of Awards of Shares. If any
                  Shares subject to any Award granted hereunder are forfeited or
                  an Award otherwise terminates or expires without the issuance
                  of Shares, the Shares subject to that Award shall again be
                  available for distribution in connection with future Awards
                  under the Plan as provided in Section 3(a), unless the
                  participant who had been awarded those forfeited Shares or the
                  expired or terminated Award has theretofore received dividends
                  or other benefits of ownership with respect to those Shares.
                  For purposes hereof, a participant shall not be deemed to have
                  received a benefit of ownership with respect to those Shares
                  by the exercise of voting rights, or by the accumulation of
                  dividends that are not realized because of the forfeiture of
                  those Shares or the expiration or termination of the related
                  Award without issuance of those Shares.

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                  (c) Adjustment. In the event of any merger, reorganization,
                  consolidation, recapitalization, share dividend, share split,
                  combination of shares or other change in corporate structure
                  of the Company affecting the Shares, such substitution or
                  adjustment shall be made in the aggregate number of Shares
                  reserved for issuance under the Plan, in the number and option
                  price of shares subject to outstanding options granted under
                  the Plan, in the number of Share Appreciation Rights granted
                  under the Plan and in the number of shares subject to
                  Restricted Share Awards granted under the Plan as may be
                  approved by the Committee, in its sole discretion, but the
                  number of shares subject to any Award shall always be a whole
                  number. In addition, in the event of a merger or sale of the
                  Company, the Committee will have the authority to substitute
                  Awards with similar awards of equity of the surviving or
                  acquiring entity. Any fractional shares shall be eliminated.

                  (d) Annual Award Limit. No participant may be granted Stock
                  Options or other Awards under the Plan with respect to an
                  aggregate of more than 500,000 Shares (subject to adjustment
                  as provided in Section 3(c) hereof) during any calendar year.

                  (e) Awards to Members of the Board and Consultants.
                  Notwithstanding other provisions of the Plan, any Shares
                  issued hereunder to a member of the Board or to a consultant
                  shall be treasury shares.

SECTION 4. ELIGIBILITY.

         Members of the Board of Directors of the Company, officers and other
key employees of the Company, and of its Subsidiaries and Affiliates, if any,
who are responsible for or contribute to the management, growth or profitability
of the business of the Company (or of its Subsidiaries or Affiliates, if any)
and consultants to the Company, or its Subsidiaries and Affiliates, are eligible
to be granted Awards under the Plan.

SECTION 5. STOCK OPTIONS.

                  (a) Grant. Stock Options may be granted alone, in addition to
                  or in tandem with other Awards granted under the Plan or cash
                  awards made outside the Plan. The Committee shall determine
                  the individuals to whom, and the time or times at which,
                  grants of Stock Options will be made, the number of Shares
                  purchasable under each Stock Option and the other terms and
                  conditions of the Stock Options in addition to those set forth
                  in Sections 5(b) and 5(c). Any Stock Option granted under the
                  Plan shall be in such form as the Committee may from time to
                  time approve.

                           Stock Options granted under the Plan may be of two
                  types which shall be indicated on their face: (i) Incentive
                  Stock Options and (ii) Non-Qualified Stock Options. Subject to
                  Section 5(c), the Committee shall have the authority to grant
                  to any participant Incentive Stock Options, Non-Qualified
                  Stock Options or both types of Stock Options; provided,
                  however, that no Incentive Stock Options shall be granted
                  under this Plan unless and until the Plan has been approved by
                  the Company's shareholders in a manner that complies with the
                  shareholder approval requirements of the Code relating to
                  Incentive Stock Options.

                  (b) Terms and Conditions. Options granted under the Plan shall
                  be evidenced by Option Agreements, shall be subject to the
                  following terms and conditions and shall contain such
                  additional terms and conditions, not inconsistent with the
                  terms of the Plan, as the Committee shall deem desirable:

                           (1) Option Price. The option price per share of
                  Shares purchasable under a Non-Qualified Stock Option or an
                  Incentive Stock Option shall be determined by the Committee at
                  the time of grant and shall be not less than 100% of the Fair
                  Market Value of the Shares at the date of grant (or, with
                  respect to an Incentive Stock Option, 110% of the Fair Market
                  Value of the Shares at the date of grant in the case of a
                  participant who at the date of grant owns Shares possessing
                  more than ten percent of the total combined voting power of
                  all classes of stock of the Company or its parent or
                  subsidiary corporations (as determined under Sections 424(d),
                  (e) and (f) of the Code)).

                           (2) Option Term. The term of each Stock Option shall
                  be determined by the Committee and may not exceed ten years
                  from the date the Option is granted (or, with respect to an
                  Incentive Stock Option, five years in the case of a
                  participant who at the date of grant owns Shares possessing
                  more than ten percent of the total combined voting power of
                  all classes of stock of the Company or its parent or
                  subsidiary corporations (as determined under Sections 424(d),
                  (e) and (f) of the Code)).

                           (3) Exercise. Stock Options shall be exercisable at
                  such time or times and shall be subject to such terms and
                  conditions as shall be determined by the Committee at or after
                  grant; but, except as

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                  provided in Section 5(b)(6) and Section 8, unless otherwise
                  determined by the Committee at or after grant, no Stock Option
                  shall be exercisable prior to six months and one day following
                  the date of grant. If any Stock Option is exercisable only in
                  installments or only after specified exercise dates, the
                  Committee may waive, in whole or in part, such installment
                  exercise provisions, and may accelerate any exercise date or
                  dates, at any time at or after grant based on such factors as
                  the Committee shall determine, in its sole discretion.

                           (4) Method of Exercise. Subject to any installment
                  exercise provisions that apply with respect to any Stock
                  Option, and the six month and one day holding period set forth
                  in Section 5(b)(3), that Stock Option may be exercised in
                  whole or in part, at any time during the option period, by the
                  holder thereof giving to the Company written notice of
                  exercise specifying the number of Shares to be purchased.

                                    That notice shall be accompanied by payment
                  in full of the option price of the Shares for which the Option
                  is exercised, in cash or Shares or by check or such other
                  instrument as the Committee may accept. The value of each such
                  Share surrendered or withheld shall be 100% of the Fair Market
                  Value of the Shares on the date the option is exercised.

                                    No Shares shall be issued on an exercise of
                  an Option until full payment has been made. A participant
                  shall not have rights to dividends or any other rights of a
                  shareholder with respect to any Shares subject to an Option
                  unless and until the participant has given written notice of
                  exercise, has paid in full for those Shares, has given, if
                  requested, the representation described in Section 11(a), and
                  those Shares have been issued to him.

                           (5) Non-Transferability of Options. No Stock Option
                  shall be transferable by any participant other than by will or
                  by the laws of descent and distribution or pursuant to a
                  qualified domestic relations order (as defined in the Code or
                  the Employment Retirement Income Security Act of 1974, as
                  amended) except that, if so provided in the Option Agreement,
                  the participant may transfer the Option during his lifetime to
                  one or more members of his family, to one or more trusts for
                  the benefit of one or more members of his family, or to a
                  partnership or partnerships of members of his family, provided
                  that no consideration is paid for the transfer and that the
                  transfer would not result in the loss of any exemption under
                  Rule 16b-3 of the Exchange Act with respect to any Option. The
                  transferee of an Option will be subject to all restrictions,
                  terms and conditions applicable to the Option prior to its
                  transfer, except that the Option will not be further
                  transferable by the transferee other than by will or by the
                  laws of descent and distribution.

                           (6) Termination by Death. Subject to Section 5(c), if
                  any participant's service as a director with or consultant to
                  the Company or employment with the Company or any Subsidiary
                  or Affiliate terminates by reason of death, any Stock Option
                  held by that participant not previously exercised and vested
                  will become fully vested and exercisable by the estate of the
                  participant (acting through its fiduciary), for a period of
                  one year from the date of death (or such other period as the
                  Committee may specify at or after grant).

                           (7) Termination by Reason of Disability. Subject to
                  Sections 5(b)(3) and 5(c), if a participant's service as a
                  director with or consultant to the Company or employment with
                  the Company or any Subsidiary or Affiliate terminates by
                  reason of Disability, any Stock Option held by that
                  participant not previously exercised and vested will become
                  fully vested and exercisable by the participant or by the
                  participant's duly authorized legal representative if the
                  participant is unable to exercise the Option as a result of
                  the participant's Disability, for a period of one year from
                  the date of such termination of service or employment (or such
                  other period as the Committee may specify at or after grant);
                  and if the participant dies within that one-year period (or
                  such other period as the Committee shall specify at or after
                  grant), any unexercised Stock Option held by that participant
                  shall thereafter be exercisable by the estate of the
                  participant (acting through its fiduciary) to the same extent
                  to which it was exercisable at the time of death, for a period
                  of one year from the date of that termination of service or
                  employment.

                           (8) Other Termination. Unless otherwise determined by
                  the Committee at or after the time of granting any Stock
                  Option, if a participant's service as a director with or
                  consultant to the Company or employment with the Company or
                  any Subsidiary or Affiliate terminates for any reason other
                  than death or Disability, all Stock Options held by that
                  participant that are then exercisable shall terminate 90 days
                  after the date service or employment terminates and all Stock
                  Options that are not then exercisable shall terminate on the
                  date the service or employment terminates.

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                  (c) Incentive Stock Options. Notwithstanding Sections 5(b)(6)
                  and (7), an Incentive Stock Option shall be exercisable by (i)
                  a participant's authorized legal representative (if the
                  participant is unable to exercise the Incentive Stock Option
                  as a result of the participant's Disability) only if, and to
                  the extent, permitted by Section 422 of the Code and (ii) by
                  the participant's estate, in the case of death, or authorized
                  legal representative, in the case of Disability, no later than
                  ten years from the date the Incentive Stock Option was granted
                  (in addition to any other restrictions or limitations that may
                  apply). Anything in the Plan to the contrary notwithstanding,
                  no term or provision of the Plan relating to Incentive Stock
                  Options shall be interpreted, amended or altered, nor shall
                  any discretion or authority granted under the Plan be
                  exercised, so as to disqualify the Plan under Section 422 of
                  the Code, or, without the consent of the participants
                  affected, to disqualify any Incentive Stock Option under that
                  Section 422 or any successor Section thereto.

                  (d) Buyout Provisions. The Committee may at any time buy out
                  for a payment in cash, Shares or Restricted Shares an Option
                  previously granted, based on such terms and conditions as the
                  Committee shall establish and agree upon with the participant,
                  but no such transaction involving a Section 16 Participant
                  shall be structured or effected in a manner that would result
                  in any liability on the part of the participant under Section
                  16(b) of the Exchange Act or the rules and regulations
                  promulgated thereunder.

SECTION 6. SHARE APPRECIATION RIGHTS.

                  (a) Grant. Share Appreciation Rights may be granted in
                  connection with all or any part of an Option, either
                  concurrently with the grant of the Option or, if the Option is
                  a Non-Qualified Stock Option, by an amendment to the Option at
                  any time thereafter during the term of the Option. Share
                  Appreciation Rights may be exercised in whole or in part at
                  such times under such conditions as may be specified by the
                  Committee in the participant's Option Agreement.

                  (b) Terms and Conditions. The following terms and conditions
                  will apply to all Share Appreciation Rights that are granted
                  in connection with Options:

                           (1) Rights. Share Appreciation Rights shall entitle
                  the participant, upon exercise of all or any part of the Share
                  Appreciation Rights, to surrender to the Company unexercised
                  that portion of the underlying Option relating to the same
                  number of Shares as is covered by the Share Appreciation
                  Rights (or the portion of the Share Appreciation Rights so
                  exercised) and to receive in exchange from the Company an
                  amount (paid as provided in Section 6(b)(5)) equal to the
                  excess of (x) the Fair Market Value, on the date of exercise,
                  of the Shares covered by the surrendered portion of the
                  underlying Option over (y) the exercise price of the Shares
                  covered by the surrendered portion of the underlying Option.
                  The Committee may limit the amount that the participant will
                  be entitled to receive upon surrender of a Share Appreciation
                  Right.

                           (2) Surrender of Option. Upon the exercise of the
                  Share Appreciation Right and surrender of the related portion
                  of the underlying Option, the Option, to the extent
                  surrendered, will not thereafter be exercisable. The
                  underlying Option may provide that such Share Appreciation
                  Rights will be payable solely in cash. The terms of the
                  underlying Option shall provide a method by which an
                  alternative fair market value of the Shares on the date of
                  exercise shall be calculated based on one of the following:
                  (x) the closing price of the Shares on the national exchange
                  on which they are then traded on the business day immediately
                  preceding the day of exercise; (y) the highest closing price
                  of the Shares on the national exchange on which they have been
                  traded, during the 90 days immediately preceding the Change in
                  Control; or (z) the greater of (x) and (y).

                           (3) Exercise. In addition to any further conditions
                  upon exercise that may be imposed by the Committee, the Share
                  Appreciation Rights shall be exercisable only to the extent
                  that the related Option is exercisable, except that in no
                  event will a Share Appreciation Right held by a Section 16
                  Participant be exercisable within the first six months after
                  it is awarded even though the related Option is or becomes
                  exercisable, and each Share Appreciation Right will expire no
                  later than the date on which the related Option expires. A
                  Share Appreciation Right may only be exercised at a time when
                  the Fair Market Value of the Shares covered by the Share
                  Appreciation Right exceeds the exercise price of the Shares
                  covered by the underlying Option. No Share Appreciation Right
                  held by a Section 16 Participant shall be exercisable by its
                  terms within the first six months after it is granted, and a
                  Section 16 Participant may only exercise a Share Appreciation
                  Right during a period beginning on the third business day and
                  ending on the twelfth business day following the release for
                  publication of quarterly or annual summary statements of the
                  Company's sales and earnings.

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                           (4) Method of Exercise. Share Appreciation Rights may
                  be exercised by the participant's giving written notice of the
                  exercise to the Company, stating the number of Share
                  Appreciation Rights he has elected to exercise and
                  surrendering the portion of the underlying Option relating to
                  the same number of Shares as the number of Share Appreciation
                  Rights elected to be exercised.

                           (5) Payment. The manner in which the Company's
                  obligation arising upon the exercise of the Share Appreciation
                  Right will be paid will be determined by the Committee and
                  shall be set forth in the participant's Option Agreement. The
                  Committee may provide for payment in Shares or cash, or a
                  fixed combination of Shares or cash, or the Committee may
                  reserve the right to determine the manner of payment at the
                  time the Share Appreciation Right is exercised. Shares issued
                  upon the exercise of a Share Appreciation Right will be valued
                  at their Fair Market Value on the date of exercise.

SECTION 7. RESTRICTED SHARES.

                  (a) Grant. Restricted Shares may be issued alone, in addition
                  to or in tandem with other Awards under the Plan or cash
                  awards made outside of the Plan. The Committee shall determine
                  the individuals to whom, and the time or times at which,
                  grants of Restricted Shares will be made, the number of
                  Restricted Shares to be awarded to each participant, the price
                  (if any) to be paid by the participant (subject to Section
                  7(b)), the date or dates upon which Restricted Share Awards
                  will vest and the period or periods within which those
                  Restricted Share Awards may be subject to forfeiture, and the
                  other terms and conditions of those Awards in addition to
                  those set forth in Section 7(b).

                           The Committee may condition the grant of Restricted
                  Shares upon the attainment of specified performance goals or
                  such other factors as the Committee may determine in its sole
                  discretion.

                  (b) Terms and Conditions. Restricted Shares awarded under the
                  Plan shall be subject to the following terms and conditions
                  and such additional terms and conditions, not inconsistent
                  with the provisions of the Plan, as the Committee shall deem
                  desirable. A participant who receives a Restricted Share Award
                  shall not have any rights with respect to that Award, unless
                  and until the participant has executed an agreement evidencing
                  the Award in the form approved from time to time by the
                  Committee and has delivered a fully executed copy thereof to
                  the Company, and has otherwise complied with the applicable
                  terms and conditions of that Award.

                           (1) The purchase price (if any) for Restricted Shares
                  shall be determined by the Committee at the time of grant.

                           (2) Awards of Restricted Shares must be accepted by
                  executing a Restricted Share Award agreement and paying the
                  price (if any) that is required under Section 7(b)(1).

                           (3) Each participant receiving a Restricted Share
                  Award shall be issued a stock certificate in respect of those
                  Restricted Shares. The certificate shall be registered in the
                  name of the participant, and shall bear an appropriate legend
                  referring to the terms, conditions and restrictions applicable
                  to the Award.

                           (4) The Committee shall require that the stock
                  certificates evidencing the Restricted Shares be held in
                  custody by the Company until the restrictions thereon shall
                  have lapsed, and that, as a condition of any Restricted Shares
                  Award, the participant shall have delivered to the Company a
                  stock power, endorsed in blank, relating to the Shares covered
                  by that Award.

                           (5) Subject to the provisions of this Plan and the
                  Restricted Share Award agreement, during a period set by the
                  Committee commencing with the date of any Award (the
                  "Restriction Period"), the participant shall not be permitted
                  to sell, transfer, pledge, assign or otherwise encumber the
                  Restricted Shares covered by that Award. The Restriction
                  Period shall not be less than six months and one day in
                  duration ("Minimum Restriction Period"). Subject to these
                  limitations and the Minimum Restriction Period requirement,
                  the Committee, in its sole discretion, may provide for the
                  lapse of restrictions in installments and may accelerate or
                  waive restrictions, in whole or in part, based on service,
                  performance or such other factors and criteria as the
                  Committee may determine in its sole discretion.

                           (6) Except as provided in this Section 7(b)(6),
                  Section 7(b)(5) and Section 7(b)(7), the participant shall
                  have, with respect to the Restricted Shares awarded, all of
                  the rights of a shareholder of the Company, including the
                  right to vote the Shares, and the right to receive any
                  dividends. The Committee, in its sole discretion, as
                  determined at the time of award, may permit or require the
                  payment

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                  of cash dividends to be deferred and subject to forfeiture
                  and, if the Committee so determines, reinvested, subject to
                  Section 11(f), in additional Restricted Shares to the extent
                  Shares are available under Section 3, or otherwise reinvested.
                  Unless the Committee or Board determines otherwise, share
                  dividends issued with respect to Restricted Shares shall be
                  treated as additional Restricted Shares that are subject to
                  the same restrictions and other terms and conditions that
                  apply to the Shares with respect to which such dividends are
                  issued.

                           (7) No Restricted Shares shall be transferable by a
                  participant other than by will or by the laws of descent and
                  distribution.

                           (8) If a participant's service as a director of the
                  Company or as a consultant to or employee of the Company or
                  any Subsidiary or Affiliate terminates by reason of death, any
                  Restricted Shares held by that participant shall thereafter
                  vest and any restriction shall lapse.

                           (9) If a participant's service as a director of the
                  Company or as a consultant to or employee of the Company or
                  any Subsidiary or Affiliate terminates by reason of
                  Disability, any Restricted Shares held by that participant
                  shall thereafter vest and any restriction shall lapse.

                           (10) Unless otherwise determined by the Committee at
                  or after the time of granting any Restricted Shares, if a
                  participant's service as a director of the Company or as a
                  consultant to or employee of the Company or any Subsidiary or
                  Affiliate terminates for any reason other than death or
                  Disability, the Restricted Shares held by that participant
                  that are unvested or subject to restriction at the time of
                  termination shall thereupon be forfeited.

                  (c) Minimum Value. In order to better ensure that award
                  payments actually reflect the performance of the Company and
                  service of the participant, the Committee may provide, in its
                  sole discretion, for a tandem performance-based or other award
                  designed to guarantee a minimum value, payable in cash or
                  Shares, to the recipient of a Restricted Share Award, subject
                  to such performance, future service, deferral and other terms
                  and conditions as may be specified by the Committee.

SECTION 8. CHANGE IN CONTROL PROVISION.

                  (a) Impact of Event. At any time during the 365 days
                  commencing with the date of either (1) a "Change in Control"
                  as defined in Section 8(b) or (2) a "Potential Change in
                  Control" as defined in Section 8(c), a majority of the
                  "Continuing Directors" as defined in Section 8(e) (or one of
                  the two Continuing Directors if only two Continuing Directors
                  are then serving on the Board of Directors or the sole
                  Continuing Director if only one Continuing Director is then
                  serving on the Board of Directors) may cause the following
                  provisions to take effect as stated and as of the date set
                  forth in a Written Action (the "Written Action") adopted to
                  that effect (that date, the "Accelerated Vesting Date") and if
                  there are no Continuing Directors, the following provisions
                  will automatically take effect:

                           (1) Any Stock Options awarded under the Plan not
                  previously exercisable and vested shall become fully
                  exercisable and vested;

                           (2) Any Share Appreciation Rights shall become
                  immediately exercisable;

                           (3) The restrictions applicable to any Restricted
                  Shares Awards shall lapse and such shares and awards shall be
                  deemed fully vested; and

                           (4) The value of all outstanding Awards, in each case
                  to the extent vested, shall, unless otherwise determined by
                  the Committee in its sole discretion at or after grant but
                  prior to any Change in Control or Potential Change in Control,
                  be paid to the participant in cash in exchange for the
                  surrender of those Awards on the basis of the "Change in
                  Control Price" as defined in Section 8(d) as of the
                  Accelerated Vesting Date.

                  (b) Definition of Change in Control. For purposes of Section
                  8(a), a "Change in Control" means the occurrence of any of the
                  following: (i) the Board or shareholders of the Company
                  approve a consolidation or merger that results in the
                  shareholders of the Company immediately prior to the
                  transaction giving rise to the consolidation or merger owning
                  less than 50% of the total combined voting power of all
                  classes of stock entitled to vote of the surviving entity
                  immediately after the consummation of the transaction giving
                  rise to the merger or consolidation; (ii) the Board or
                  shareholders of the Company approve the sale of substantially
                  all of the assets of the Company or the liquidation or
                  dissolution of the Company; (iii) any

                                      -7-
<PAGE>
                  person or other entity (other than the Company or a Subsidiary
                  or any Company employee benefit plan (including any trustee of
                  any such plan acting in its capacity as trustee)) purchases
                  any Shares (or securities convertible into Shares) pursuant to
                  a tender or exchange offer without the prior consent of the
                  Board of Directors, or becomes the beneficial owner of
                  securities of the Company representing 25% or more of the
                  voting power of the Company's outstanding securities; or (iv)
                  during any two-year period, individuals who at the beginning
                  of such period constitute the entire Board of Directors cease
                  to constitute a majority of the Board of Directors, unless the
                  election or the nomination for election of each new director
                  is approved by at least two-thirds of the directors then still
                  in office who were directors at the beginning of that period.

                  (c) Definition of Potential Change in Control. For purposes of
                  Section 8(a), a "Potential Change in Control" means the
                  happening of any one of the following:

                           (1) The approval by the shareholders of the Company
                  of an agreement by the Company, the consummation of which
                  would result in a Change in Control of the Company as defined
                  in Section 8(b); or

                           (2) The acquisition of beneficial ownership, directly
                  or indirectly, by any entity, person or group (other than the
                  Company or a Subsidiary or any Company employee benefit plan
                  (including any trustee of any such plan acting in its capacity
                  as trustee)) of securities of the Company representing 25% or
                  more of the combined voting power of the Company's outstanding
                  securities and the adoption by the Board of a resolution to
                  the effect that a Potential Change in Control of the Company
                  has occurred for purposes of this Plan.

                  (d) Change in Control Price. For purposes of this Section 8,
                  "Change in Control Price", means the greater of: (a) the
                  highest price per share paid in any transaction reported on
                  the New York Stock Exchange Composite Index (or, if the Shares
                  are not then traded on the New York Stock Exchange, the
                  highest price paid as reported for any national exchange on
                  which the Shares are then traded) or paid or offered in any
                  bona fide transaction related to a Change in Control or
                  Potential Change in Control of the Company, at any time during
                  the 60-day period immediately preceding the occurrence of the
                  Change in Control (or, when applicable, the occurrence of the
                  Potential Change in Control event), and (b) the highest price
                  per share paid in any transaction reported on the New York
                  Stock Exchange Composite Index (or, if the Shares are not then
                  traded on the New York Stock Exchange, the highest price paid
                  as reported for any national exchange on which the Shares are
                  then traded), at any time during the 60-day period immediately
                  preceding the date on which the Continuing Directors execute a
                  Written Action relating to that Change in Control or Potential
                  Change in Control, in each case as determined by the
                  Committee.

                  (e) Definition of Continuing Director. For purposes of this
                  Section 8, a "Continuing Director" means an individual who was
                  a member of the Board of Directors immediately prior to the
                  date of a Change in Control or a Potential Change in Control
                  and is a member of the Board of Directors at the time a
                  Written Action relating to that Change in Control or Potential
                  Change in Control is taken.

SECTION 9. AMENDMENTS AND TERMINATION.

         The Board may at any time, in its sole discretion, amend, alter or
discontinue the Plan, but no such amendment, alteration or discontinuation shall
be made that would impair the rights of a participant under an Award theretofore
granted, without the participant's consent. Notwithstanding the foregoing, any
amendment to Section 8 hereof requires the affirmative vote of a majority of the
Continuing Directors (or one of the two Continuing Directors if only two
Continuing Directors are then serving on the Board of Directors) or the sole
Continuing Director if only one Continuing Director is then serving on the Board
of Directors.

         The Committee may at any time, in its sole discretion, amend the terms
of any Award, but no such amendment shall be made that would impair the rights
of a participant under an Award theretofore granted, without the participant's
consent.

         Subject to the above provisions, the Board shall have all necessary
authority to amend the Plan to take into account changes in applicable
securities and tax laws and accounting rules, as well as other developments.

                                      -8-
<PAGE>
SECTION 10. UNFUNDED STATUS OF PLAN.

         The Plan is intended to constitute an "unfunded" plan for incentive
compensation. With respect to any payment not yet made to a participant by the
Company, nothing contained herein shall give that participant any rights that
are greater than those of a general creditor of the Company.

SECTION 11. GENERAL PROVISIONS.

                  (a) The Committee may require each participant acquiring
                  Shares pursuant to an Award under the Plan to represent to and
                  agree with the Company in writing that the participant is
                  acquiring the Shares without a view to distribution thereof.
                  The certificates for any such Shares may include any legend
                  which the Committee deems appropriate to reflect any
                  restrictions on transfer.

                           All Shares or other securities delivered under the
                  Plan shall be subject to such stop-transfer orders and other
                  restrictions as the Committee may deem advisable under the
                  rules, regulations and other requirements of the Securities
                  and Exchange Commission, any stock exchange upon which the
                  Shares are then listed, and any applicable federal or state
                  securities laws, and the Committee may cause a legend or
                  legends to be put on any certificate for any such Shares to
                  make appropriate reference to those restrictions.

                  (b) Nothing contained in this Plan shall prevent the Board
                  from adopting other or additional compensation arrangements,
                  subject to shareholder approval if such approval is required,
                  and such arrangements may be either generally applicable or
                  applicable only in specific cases.

                  (c) Neither the adoption of the Plan, nor its operation, nor
                  any document describing, implementing or referring to the
                  Plan, or any part thereof, shall confer upon any participant
                  under the Plan any right to continue in the employ, or in
                  service as a director, of the Company or any Subsidiary or
                  Affiliate, or shall in any way affect the right and power of
                  the Company or any Subsidiary or Affiliate to terminate the
                  employment, or service as a director, of any participant under
                  the Plan at any time with or without assigning a reason
                  therefor, to the same extent as the Company or any Subsidiary
                  or Affiliate might have done if the Plan had not been adopted.

                  (d) For purposes of this Plan, except as otherwise required
                  with respect to Incentive Stock Options, a transfer of a
                  participant between the Company and any Subsidiary or
                  Affiliate shall not be deemed a termination of employment.

                  (e) No later than the date as of which an amount first becomes
                  includable in the gross income of the participant for federal
                  income tax purposes with respect to any Award under the Plan,
                  the participant shall pay to the Company, or make arrangements
                  satisfactory to the Committee regarding the payment of, any
                  federal, state or local taxes or other items of any kind
                  required by law to be withheld with respect to that amount.
                  Subject to the following sentence, unless otherwise determined
                  by the Committee, withholding obligations may be settled with
                  Shares, including unrestricted Shares previously owned by the
                  participant or Shares that are part of the Award that gives
                  rise to the withholding requirement. Notwithstanding the
                  foregoing, any election by a Section 16 Participant to settle
                  any tax withholding obligation with Shares that are part of an
                  Award shall be subject to approval by the Committee, in its
                  sole discretion. The obligations of the Company under the Plan
                  shall be conditional on those payments or arrangements and the
                  Company and its Subsidiaries and Affiliates shall, to the
                  extent permitted by law, have the right to deduct any such
                  taxes from any payment of any kind otherwise payable to the
                  participant.

                  (f) The actual or deemed reinvestment of dividends or dividend
                  equivalents in additional Restricted Shares at the time of any
                  dividend payment shall only be permissible if sufficient
                  Shares are available under Section 3 for reinvestment (taking
                  into account then outstanding Stock Options).

                  (g) The Plan, all Awards made and actions taken thereunder and
                  any agreements relating thereto shall be governed by and
                  construed in accordance with the laws of the State of Ohio.

                  (h) All agreements entered into with participants pursuant to
                  the Plan shall be subject to the Plan.

                  (i) The provisions of Awards need not be the same with respect
                  to each participant.

                                      -9-
<PAGE>
SECTION 12. TERM OF PLAN.

         No Award shall be granted pursuant to the Plan on or after March 5,
2008, but Awards granted prior to that date may extend beyond that date.

                                      -10-CONSENT AND VOTING AGREEMENT

                                BY AND AMONG

                APARTMENT INVESTMENT AND MANAGEMENT COMPANY,

                                    AND

                        EACH OF THE STOCKHOLDERS OF

                           CASDEN PROPERTIES INC.

                                    AND

                          CASDEN PARK LA BREA INC.

                              SIGNATORY HERETO

                        Dated as of December 3, 2001

                        CONSENT AND VOTING AGREEMENT

                  CONSENT AND VOTING AGREEMENT, dated as of December 3,
2001 (this "Agreement"), by and among Apartment Investment and Management
Company, a Maryland corporation ("AIMCO"), and each of the other
stockholders of Casden Properties Inc., a Maryland corporation ("Casden"),
and Casden Park La Brea Inc., a Maryland corporation ("PLB"), set forth on
the signature pages hereto (each a "Stockholder" and, collectively, the
"Stockholders"). Initially capitalized terms used but not otherwise defined
herein shall have the meanings attributed to them in the REIT Merger
Agreement (as defined herein).

                  WHEREAS, concurrently herewith, AIMCO, Casden and XYZ
Holdings LLC, a Delaware limited liability company ("XYZ"), are entering
into an Agreement and Plan of Merger (as amended from time to time, the
"REIT Merger Agreement") pursuant to which, among other transactions, AIMCO
shall acquire Casden in a merger (the "REIT Merger"), whereby each eligible
share of Common Stock, par value $0.01 per share, of Casden ("Casden Common
Stock"), Class A Cumulative Preferred Stock, par value $0.01 per share, of
Casden ("Casden Class A Preferred Stock") and Junior Cumulative Preferred
Stock, par value $0.01 per share, of Casden ("Casden Junior Preferred
Stock" and, together with the Casden Common Stock, the Casden Class A
Preferred Stock and any other shares of capital stock of Casden, the
"Casden Capital Stock") will be converted into the right to receive shares
of Common Stock, par value $0.01 per share, of AIMCO ("AIMCO Common
Stock"), cash or a portion of the Deferred Consideration;

                  WHEREAS, concurrently herewith, AIMCO, AIMCO Park La Brea
Merger Sub, Inc., a Maryland corporation and wholly owned subsidiary of
AIMCO ("Merger Sub") and PLB, are entering into an Agreement and Plan of
Merger (as amended from time to time, the "PLB Merger Agreement" and,
together with the REIT Merger Agreement, the "Merger Agreements") pursuant
to which Merger Sub will be merged with and into PLB (the "PLB Merger" and,
together with the REIT Merger, the "Mergers") and

                  (a) each eligible share of Common Stock, par value $0.01
per share, of PLB ("PLB Common Stock" and, together with any other shares
of capital stock of PLB, the "PLB Capital Stock") issued and outstanding
immediately prior to the Effective Time of the PLB Merger, will be
converted into the right to receive cash and a pro rata portion of the
Deferred Consideration, and

                  (b) each share of Common Stock, par value $0.01 per
share, of Merger Sub issued and outstanding immediately prior to the
Effective Time of the PLB Merger shall be converted into and become one
fully paid and non-assessable share of Common Stock of the Surviving
Corporation (as defined in the PLB Merger Agreement);

                  WHEREAS, as of the date hereof, each Stockholder is the
record or beneficial owner of the number of shares of Casden Capital Stock
and/or PLB Capital Stock set forth opposite such Stockholder's name on
Schedule I attached hereto (such Stockholder's "Shares"); and

                  WHEREAS, as a condition to its willingness to enter into
the Merger Agreements, AIMCO has required that the Stockholders enter into
this Agreement pursuant to which, among other things, the Stockholders have
agreed to certain consent and voting provisions in connection with and in
favor of the Mergers.

                  NOW, THEREFORE, in consideration of the representations,
warranties, covenants and agreements contained in this Agreement and
intending to be legally bound hereby, AIMCO and each of the Stockholders
agrees as follows:

1.       Consent and Voting Matters.
         --------------------------

         1.1 Consent. Subject to termination pursuant to Section 9.9, each
Stockholder who holds shares of Casden Class A Preferred Stock agrees that
concurrently with the execution and delivery of this Agreement and the REIT
Merger Agreement, it shall execute and deliver, or cause to be executed and
delivered by the record owner thereof, in accordance with Section 2-505(b)
of the Maryland General Corporation Law (the "MGCL"), the Stockholders
Consent in the form of Exhibit A hereto (the "Consent"), which shall be
irrevocable (except as provided in Section 9.9), with respect to all shares
of Casden Class A Preferred Stock that are owned beneficially or of record
by such Stockholder or as to which such Stockholder has, directly or
indirectly, the right to vote or direct the voting.

         1.2 Agreement to Vote. Each Stockholder hereby further agrees
that, during the term of this Agreement, it shall, from time to time, at
any meeting (whether annual or special and whether or not an adjourned or
postponed meeting) of stockholders of Casden or PLB, as the case may be,
however called, or in connection with any written consent of the holders of
Casden Capital Stock or PLB Capital Stock, as the case may be, in either
case, prior to the earlier of the effectiveness of the Mergers and the
termination of this Agreement pursuant to its terms, if a meeting is held,
appear at such meeting or otherwise cause such Stockholder's Shares to be
counted as present thereat for purposes of establishing a quorum, and it
shall vote or consent (or cause to be voted or consented), in person or by
proxy, all such Stockholder's Shares, and any other voting securities of
Casden or PLB (whether acquired heretofore or hereafter), that are
beneficially owned by such Stockholder or its wholly owned affiliates or as
to which such Stockholder has, directly or indirectly, the right to vote or
direct the voting, (a) in favor of the Casden Reverse Stock Split and the
CPLB Reverse Stock Split, as applicable; (b) in favor of the amendment to
the Casden Charter contemplated by Section 7.34 of the REIT Agreement and
amendment to the CPLB Charter contemplated by Section 7.17 of the PLB
Merger Agreement; (c) in favor of the Mergers, the approval of the Merger
Agreements and the approval of the terms thereof and each of the other
Transactions and other matters contemplated by the Merger Agreements and
this Agreement and any actions required in furtherance hereof or thereof;
(d) against any action or agreement that is reasonably likely to result in
a breach in any material respect of any covenant, representation or
warranty or any other obligation or agreement of Casden or PLB under either
of the Merger Agreements; (e) if AIMCO OP elects, pursuant to Section 7.4
of the OP Contribution Agreement, in favor of the Alternative Merger (as
defined in the OP Unit Contribution Agreement); and (f) against the
following actions (except as otherwise provided in (a), (b), (c), (d) and
(e)): (i) any extraordinary corporate transaction, such as a merger,
consolidation or other business combination involving Casden, PLB or any of
their respective subsidiaries; (ii) a sale, lease or transfer of assets of
Casden, PLB or any of their respective subsidiaries or a reorganization,
recapitalization, dissolution or liquidation of Casden, PLB or any of their
respective subsidiaries; (iii) any material change in the present
capitalization of Casden or PLB or any amendment of their respective
organizational documents (other than the amendments prior to the Effective
Time to the Casden Charter pursuant to Section 7.34 of the REIT Merger
Agreement); (iv) any other material change in the corporate structure or
business of Casden or PLB; or (v) any other action which is reasonably
likely to impede, frustrate, prevent, interfere with, delay, or postpone
the Mergers or the Transactions or this Agreement or change in any manner
the voting rights of the Casden Capital Stock or the PLB Common Stock. Such
Stockholder shall not enter into any agreement or understanding with any
person or entity prior to the termination of this Agreement in accordance
with its terms to vote or give instructions after such termination in a
manner inconsistent with clauses (a), (b), (c), (d) or (e) of the preceding
sentence.

         1.3 Proxy. Simultaneously with the execution of this Agreement,
each Stockholder of Casden agrees to deliver to AIMCO a proxy in the form
attached hereto as Exhibit B (the "Casden Proxy") and each Stockholder of
PLB agrees to deliver to AIMCO a proxy in the form attached hereto as
Exhibit C (the "PLB Proxy") with respect to the matters set forth in
Section 1.2, which is irrevocable (except as provided in Section 9.9). Each
Stockholder intends such proxy to be irrevocable (except as provided in
Section 9.9) and, by reason of the Merger Agreements, coupled with an
interest and will take such further action and execute such other
instruments as may be necessary to effectuate the intent of such proxy.
Each Stockholder hereby revokes any and all previous proxies with respect
to such Stockholder's Shares or any other voting securities of Casden or
PLB that relate to the approval of the Mergers or the Merger Agreements.

         1.4 Dissenters' Rights. By virtue of his, her or its execution of
this Agreement, each Stockholder hereby irrevocably waives any and all
rights to demand and receive payment of the fair market value of such
Stockholder's Shares or otherwise assert any dissenters' rights, appraisal
rights or other similar rights with respect to, or to dissent from, the
Mergers or any other transactions contemplated by the Merger Agreements.
Each Stockholder further agrees it will not file with Casden, AIMCO or the
Surviving Corporation a written objection to the Mergers or any other
transactions contemplated by the Merger Agreements, nor will it make a
written demand on the Surviving Corporation for payment of such
Stockholder's Shares pursuant to Sections 3-203 through 3-213 of the
Maryland General Corporation Law.

2.       Representations and Warranties of the Stockholders.  Each Stockholder
 makes the following representations and warranties to AIMCO:

         2.1 Power; Binding Agreement. Such Stockholder has the legal
capacity, power and authority to enter into and perform all of its
obligations under this Agreement (including the power and authority without
further action on the part of any stockholders, members or partners thereof
or any other juridical or nonjuridical person to comply with the consent
and voting obligations of Section 1 of this Agreement). The execution,
delivery and performance of this Agreement by such Stockholder will not
violate any other agreement to which such Stockholder is a party (including
any trust agreement, voting agreement, stockholders agreement or voting
trust), except to the extent any such violations, individually or in the
aggregate, would not reasonably be expected (a) to have a material adverse
effect on AIMCO, (b) to materially interfere with the Stockholder's ability
to perform such Stockholder's obligations under this Agreement, or (c) to
prevent or materially delay the consummation of the Transactions. This
Agreement has been duly and validly authorized, executed and delivered by
such Stockholder and constitutes a valid and binding agreement of such
Stockholder, enforceable against it in accordance with its terms.

         2.2 No Conflict. No filing with, and no permit, authorization,
consent or approval of, any state or federal public body or authority is
necessary for the execution of this Agreement by such Stockholder or the
consummation by the Stockholder of the transactions contemplated hereby,
except for (a) any such filings the failure of which to be made,
individually or in the aggregate, would not reasonably be expected (i) to
have a material adverse effect on AIMCO, (ii) to materially interfere with
the Stockholder's ability to perform such Stockholder's obligations under
this Agreement, or (iii) to prevent or materially delay the consummation of
the Transactions and (b) filings required in connection with the
consummation of the Mergers. Except as set forth on Schedule 2.4, neither
the execution and delivery of this Agreement by such Stockholder nor the
consummation by such Stockholder of the transactions contemplated hereby
nor compliance by such Stockholder with any of the provisions hereof shall
(i) conflict with or result in any breach of such Stockholder's certificate
of incorporation, bylaws, operating agreement, partnership agreement or
other organizational or governing document or agreement, as the case may be
(if any), (ii) result in a violation or breach of, or constitute (with or
without notice or lapse of time or both) a default (or give rise to any
third party right of termination, cancellation, material modification or
acceleration) under any of the terms, conditions or provisions of any note,
bond, mortgage, indenture, license, contract, commitment, arrangement,
understanding, agreement or other instrument or obligation of any kind to
which such Stockholder is a party or by which such Stockholder or any of
the Stockholder's properties or assets may be bound, (iii) require any
material consent, authorization or approval of any person other than a
governmental entity, or (iv) violate any order, writ, injunction, decree,
judgment, order, statute, rule or regulation applicable to such
Stockholder, the Stockholder's Shares or any of the Stockholder's
stockholders, members, partners, properties or assets, except to the extent
any of the foregoing, individually or in the aggregate, would not
reasonably be expected (a) to have a material adverse effect on AIMCO, (b)
to materially interfere with the Stockholders' ability to perform such
Stockholder's obligations under this Agreement, or (c) to prevent or
materially delay the consummation of the Transactions.

         2.3 Reliance. Such Stockholder understands and acknowledges that
AIMCO is entering into each of the Merger Agreements in reliance upon such
Stockholder's execution and delivery of this Agreement and the performance
of its obligations hereunder.

         2.4 Ownership of Shares.
             -------------------

         (a) With respect to the Stockholders of Casden, such Stockholder
is the record and beneficial owner of (i) the number of shares of Casden
Common Stock and Casden Class A Preferred Stock set forth opposite its name
on Schedule I, and (ii) the number of shares of Casden Junior Preferred
Stock set forth opposite its name on Schedule I. Except as set forth in
Schedule 2.4 attached hereto, such Stockholder has good and valid title to
such Stockholder's shares of Casden Capital Stock, free and clear of any
Liens, qualifications or restrictions. Such Stockholder has sole voting
power, and sole power of disposition, with respect to all of such
Stockholder's shares of Casden Capital Stock.

         (b) With respect to the Stockholders of PLB, such Stockholder is
the record and beneficial owner of the number of shares of PLB Common Stock
set forth opposite its name on Schedule I. Such Stockholder has good and
valid title to such Stockholder's shares of PLB Common Stock, free and
clear of any Liens, qualifications or restrictions. Such Stockholder has
sole voting power, and sole power of disposition, with respect to all of
such Stockholder's shares of PLB Common Stock.

         2.5 No Broker. Such Stockholder has not employed any investment
banker, broker, finder, consultant or intermediary in connection with the
transactions contemplated by this Agreement, the Merger Agreements or the
other Transaction Documents which would be entitled to any investment
banking, brokerage, finder's or similar fee or commission in connection
with this Agreement or the Transactions.

3.       Investment Representations.  Each Stockholder makes the following
representations and warranties to AIMCO and acknowledges that AIMCO is
entering into the Merger Agreements in reliance on such representations and
warranties.

         3.1 Such Stockholder is, and at the Closing Date will be, an
"accredited investor" ("Accredited Investor") as defined in Rule 501 of the
General Rules and Regulations promulgated under the Securities Act of 1933,
as amended (the "Act").

         3.2 If Stockholder is a corporation, partnership, limited
liability company, trust, or other entity, it was not organized for the
specific purpose of acquiring AIMCO Common Stock.

         3.3 Such Stockholder (a) has received and reviewed the Merger
Agreements relating to the proposed acquisition of the AIMCO Common Stock and
(b) has had access to such financial and other information, and has been
afforded the opportunity to ask questions of representatives of AIMCO, and to
receive answers to those questions, as such Stockholder has deemed necessary
in connection with the acquisition of the AIMCO Common Stock acquired pursuant
to the Merger Agreements.

         3.4 Such Stockholder (a) acknowledges that the AIMCO Common Stock
that will be acquired pursuant to the Merger Agreements will be acquired in a
transaction not involving any public offering within the meaning of the Act
and that the AIMCO Common Stock has not been registered and may never be
registered under the Act and (b) agrees not to offer, sell, transfer or
otherwise dispose of all or any portion of the AIMCO Common Stock in the
absence of registration under the Act unless such Stockholder delivers to
AIMCO an opinion of counsel reasonably satisfactory to AIMCO to the effect
that the proposed sale, transfer or other disposition may be effected without
registration under the Act and under applicable state securities or blue sky
laws; provided, however, that such Stockholder shall not be required to
deliver an opinion of counsel if such sale is made in accordance with Rule 144
of the Act, as such rule may be amended from time to time.

         3.5 Such Stockholder acknowledges and agrees that the certificates
evidencing the AIMCO Common Stock will bear a legend to the following
effect:

             THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER
             THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE
             SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED
             OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION,
             UNLESS THE TRANSFEROR PARTY DELIVERS TO THE COMPANY AN OPINION
             OF COUNSEL SATISFACTORY TO THE COMPANY, IN FORM AND SUBSTANCE
             SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT THE PROPOSED
             SALE, TRANSFER OR OTHER DISPOSITION MAY BE EFFECTED WITHOUT
             REGISTRATION UNDER THE ACT (EXCEPT THAT SUCH AN OPINION OF
             COUNSEL IS NOT REQUIRED IN CONNECTION WITH A SALE IN
             COMPLIANCE WITH RULE 144 OF THE ACT) AND UNDER APPLICABLE
             STATE SECURITIES OR "BLUE SKY" LAWS.

         3.6 Such Stockholder (a) has such knowledge and experience in
financial and business matters that such Stockholder is capable of evaluating
the merits and risks of an acquisition of the AIMCO Common Stock and is able
to bear the economic risk of a complete loss of an investment in the AIMCO
Common Stock and (b) is not acquiring any AIMCO Common Stock with a view to
the distribution of the AIMCO Common Stock or any present intention of
offering or selling any of the AIMCO Common Stock in a transaction that would
violate the Act or the securities laws of any state or any other applicable
jurisdiction.

         3.7 With respect to individual or partnership tax, accounting,
legal, financial and other economic considerations involved in the
transactions contemplated by the Merger Agreements, including an investment
in AIMCO Common Stock, except for the representations and warranties of
AIMCO or Merger Sub explicitly set forth in the REIT Merger Agreement or
the PLB Merger Agreement, Stockholder is not relying on AIMCO (or any agent
or representative of AIMCO). Stockholder has carefully considered and has,
to the extent Stockholder believes such discussion necessary, discussed
with Stockholder's professional legal, tax, accounting and financial
advisors the suitability of an investment in the AIMCO Common Stock for
Stockholder's particular tax and financial situation and has determined
that the AIMCO Common Stock being acquired by Stockholder is a suitable
investment.

         3.8 Stockholder has not seen, received, been presented with or
been solicited by any leaflet, public promotional meeting, newspaper or
magazine article or advertisement, radio or television advertisement, or
any other form of advertising or general solicitation with respect to the
acquisition of AIMCO Common Stock.

         3.9 Stockholder agrees it shall promptly notify AIMCO in writing
prior to the Closing, if the undersigned is aware of or has knowledge of
such Stockholder's breach of any representation, warranty or covenant
hereunder. Each such notice shall specify in reasonable detail the nature
and grounds for the alleged breach, the representation, warranty or
covenant to which such alleged breach relates and a good faith estimate of
the estimates, damages or losses which are reasonably likely to result from
such alleged breach if no curative measures are taken.

         3.10 Stockholder agrees it shall promptly provide AIMCO with any
additional information that AIMCO may reasonably request to verify any of
the representations and warranties of such Stockholder contained in this
Agreement. If Stockholder indicates that any such information is
confidential, AIMCO shall maintain the confidentiality of such information;
provided, however, such information shall not include information which (a)
is or becomes publicly available other than as a result of a disclosure by
the party receiving such information or its representatives, (b) is made
available by a party disclosing such information to a third party on an
unrestricted, non-confidential basis, (c) is independently developed by any
party hereto without breach of this Agreement, (d) is or becomes available
to any party hereto on a nonconfidential basis from a source (other than
the parties hereunder) which, to the best of such party's knowledge after
due inquiry, is not prohibited from disclosing such information to another
party by a legal, contractual or fiduciary obligation to any party
hereunder (other than the party receiving such information) or (e) is
required to be disclosed pursuant to applicable law, regulation or legal
process (by oral questions, interrogatories, requests for information or
documents, subpoena, civil or criminal investigative demand or other
process).

4.       Covenants of the Stockholders.  The Stockholders, severally
(and not jointly), hereby covenant and agree as follows:

         4.1 Commercially Reasonable Efforts. Subject to the terms and
conditions of this Agreement, each of the Stockholders agrees to use its
commercially reasonable efforts to take, or cause to be taken, all actions
and to do, or cause to be done, all things necessary, proper or advisable
to consummate and make effective the transactions provided for by this
Agreement. Each Stockholder hereby agrees, while this Agreement is in
effect and except as contemplated hereby, not to take any action that would
(a) make any of its representations or warranties contained herein untrue
or incorrect in any material respect, (b) materially breach any of its
covenants or obligation contained herein, (c) have the effect of materially
interfering with, preventing or disabling it from performing its
obligations under this Agreement or (d) prevent or materially delay the
consummation of the Transactions.

         4.2 No Solicitation. None of the Stockholders shall and shall not
authorize or permit any of its Affiliates or Representatives to, directly
or indirectly, solicit, initiate or encourage (including by way of
furnishing information) or take any other action to facilitate knowingly
any inquiries or the making of any proposal which constitutes or may
reasonably be expected to lead to an Acquisition Proposal from any Person,
or engage in any discussion or negotiations relating thereto or accept any
Acquisition Proposal. Each Stockholder shall immediately cease and
terminate any existing solicitation, initiation, encouragement, activity,
discussion or negotiation with any parties conducted heretofore by such
Stockholder, its Affiliates or Representatives with respect to the
foregoing. Each Stockholder agrees that it will take the necessary steps to
inform its Affiliates and Representatives of the obligations undertaken in
this Section 4.2.

         4.3 No Encumbrances. During the term of this Agreement, except as
required by Section 1 or as set forth on Schedule 2.4, all of the
Stockholder's Shares shall be held by such Stockholder, or by a nominee or
custodian for the benefit of Stockholder, or by a family member or
Affiliate of Stockholder free and clear of all Liens, proxies, voting
trusts or agreements, understandings or arrangements or any other
encumbrances whatsoever, except for any Liens, proxies, voting trusts or
agreements, understandings or arrangements or other encumbrances that do
not materially interfere with the Stockholders' ability to perform such
Stockholder's obligations under this Agreement, or to prevent or materially
delay the consummation of the Transactions.

         4.4 Restriction on Transfer of Shares, Proxies and
Non-Interference; Restriction on Withdrawal. No Stockholder shall, directly
or indirectly: (a) offer for sale, sell (including short sales), transfer,
tender, pledge, encumber, assign or otherwise dispose of (including by
gift) or enter into any contract, option, derivative, hedging or other
arrangement or understanding (including any profit-sharing arrangement)
with respect to or consent to the offer for sale, sale, transfer, tender,
pledge, encumbrance, assignment or other disposition of (any of the
foregoing, a "Transfer"), any or all of such Stockholder's Shares or any
interest therein; (b) except as contemplated by this Agreement grant any
proxies or powers of attorney, deposit any Shares into a voting trust or
enter into any other voting arrangement with respect to any Shares; or (c)
commit or agree to take any of the foregoing actions.

         4.5 Additional Share Purchases; Recapitalization; Option Exercise.
In the event (a) of any stock dividend, stock split, recapitalization,
reclassification, combination or exchange of shares of capital stock of
Casden on, of or affecting the Shares, or (b) a Stockholder shall become
the beneficial owner of any additional shares of Casden Capital Stock or
PLB Capital Stock or other securities entitling the holder thereof to vote
or give consent with respect to the matters set forth in Section 1 hereof,
then the terms of this Agreement shall apply to the shares of Casden
Capital Stock or PLB Capital Stock or other securities of the Casden or PLB
held by Stockholder immediately following the effectiveness of the events
described in clause (a) or a Stockholder's becoming the beneficial owner
thereof, as described in clause (b), as though they were Shares hereunder.

5.       Indemnification.
         ---------------

         (a) In the event the Transactions are consummated, the
Stockholders will severally (but not jointly) indemnify, defend and hold
harmless AIMCO, AIMCO OP and their present and future Affiliates, and the
Representatives of the foregoing against all Damages (as defined in the
Master Indemnification Agreement), arising out of any breach by the
Stockholders of any of their respective representations, warranties or
covenants contained in or made by or pursuant to this Agreement.

         (b) Each party entitled to indemnification under this Section (the
"Indemnified Party") shall give notice to the party required to provide
indemnification (the "Indemnifying Party") promptly after such Indemnified
Party has actual knowledge of any claim or proceeding by a Person other
than an AIMCO Indemnitee (as defined in the Master Indemnification
Agreement) or a Casden Indemnitee (as defined in the Master Indemnification
Agreement) or a Casden Indemnitor (as defined in the Master Indemnification
Agreement) (a "Third Party Claim") as to which indemnity may be sought, but
the omission to so notify the Indemnifying Party shall not relieve it from
any liability which it may have to the Indemnified Party otherwise than
pursuant to the provisions of this Section and then, only to the extent of
the actual damages suffered by such delay in notification. The Indemnifying
Party shall assume the defense of such action, including the employment of
counsel to be chosen by the Indemnifying Party to be reasonably
satisfactory to the Indemnified Party and payment of expenses. The
Indemnified Party shall have the right to employ its own counsel in any
such case, but the legal fees and expenses of such counsel shall be at the
expense of the Indemnified Party, unless the employment of such counsel
shall have been authorized in writing by the Indemnifying Party in
connection with the defense of such action, or the Indemnifying Party shall
not have employed counsel to take charge of the defense of such action or
the Indemnified Party shall have reasonably concluded (upon advice from
legal counsel) that there may be defenses available to it or them which are
different from or additional to those available to the Indemnifying Party
(in which case the Indemnifying Party shall not have the right to direct
the defense of such action on behalf of the Indemnified Party), in any of
which events such fees and expenses shall be borne by the Indemnifying
Party. No Indemnifying Party, in the defense of any such Third Party Claim
or litigation, shall, except with the consent of each Indemnified Party,
consent to entry of any judgment or enter into any settlement which does
not include as an unconditional term thereof the giving by the claimant or
plaintiff to such Indemnified Party of a release from all liability in
respect to such claim or litigation.

         (c) If the indemnification provided for in this Section is
unavailable to a party that would have been an Indemnified Party under this
Section in respect of any Damages referred to herein, then each party that
would have been an Indemnifying Party hereunder shall, in lieu of
indemnifying such Indemnified Party, contribute to the amount paid or
payable by such Indemnified Party as a result of such expenses, claims,
losses, damages and liabilities in such proportion as is appropriate to
reflect the relative fault of the Indemnifying Party on the one hand and
such Indemnified Party on the other in connection with the statement or
omission which resulted in such expenses, claims, losses, damages and
liabilities, as well as any other relevant equitable considerations. The
relative fault shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to
information supplied by the Indemnifying Party or such Indemnified Party
and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. Each party
agrees that it would not be just and equitable if contribution pursuant to
this Section were determined by pro rata allocation or by any other method
of allocation which does not take account of the equitable considerations
referred to above in this paragraph.

         (d) Each Stockholder and AIMCO hereby consent to the non-exclusive
jurisdiction of any court in which a Third-Party Claim is brought against
any indemnified party for purposes of resolving issues of indemnity under
this Agreement, or for the purpose of resolving any of the matters alleged
herein, and agree that process may be served on them with respect to such a
claim anywhere in the world.

         (e) A claim for indemnification for any matter not involving a
Third Party Claim may be asserted by written notice to the party from whom
indemnification is sought.

         (f) In no event will the liability of a Stockholder pursuant to
this Section 5 exceed the amount of the consideration received by such
Stockholder pursuant to the Merger Agreements, provided, however, that
liability arising out of breaches by the Stockholders of the
representations, warranties and covenants set forth in Section 3 of this
Agreement shall not be subject to the limitation set forth in this Section
5(f).

         (g) Notwithstanding anything in this Agreement to the contrary, in
no event shall any amount paid to AIMCO, AIMCO OP and their present and
future Affiliates pursuant to this Agreement in any tax year exceed the
maximum amount that can be paid to AIMCO, AIMCO OP and their present and
future Affiliates in such year without causing AIMCO to fail to meet the
requirements of sections 856(c)(2) and (3) of the Code (the "REIT
Requirements") for such year, determined as if the payment of such amount
did not constitute income described in sections 856(c)(2)(A)-(H) and
856(c)(3)(A)-(I) of the Code ("Qualifying Income") as determined by
independent accountants to AIMCO. If the amount payable for any tax year
under the preceding sentence is less than the amount which the Indemnifying
Party would otherwise be obligated to pay to AIMCO, AIMCO OP or their
present or future Affiliates pursuant to this Agreement (the "Indemnifiable
Amount"), AIMCO or AIMCO OP shall so notify the Indemnifying Party and the
Indemnifying Party shall (at AIMCO's or AIMCO OP's sole cost and expense)
place the remaining portion of the Indemnifiable Amount in escrow and shall
not execute any instrumentation permitting any release of any portion
thereof to AIMCO, AIMCO OP or their present or future Affiliates and AIMCO,
AIMCO OP and their present and future Affiliates shall not be entitled to
any such amount, unless and until the Indemnifying Party and escrow holder
receive (all at AIMCO's or AIMCO OP's sole cost and expense) notice from
AIMCO or AIMCO OP, together with either (a) an opinion of AIMCO's tax
counsel to the effect that such amount, if and to the extent paid, would
not constitute gross income which is not Qualifying Income or (b) a letter
from AIMCO's independent accountants indicating the maximum amount that can
be paid at that time to AIMCO, AIMCO OP and their present and future
Affiliates without causing AIMCO to fail to meet the REIT Requirements for
any relevant taxable year, together with either a ruling from the IRS
issued to AIMCO or an opinion of AIMCO's tax counsel to the effect that
such payment would not be treated as includible in the income of AIMCO for
any prior taxable year, in which event the escrow holder shall pay such
maximum amount. The Indemnifying Party's and escrow holder's obligation to
pay any unpaid portion of the Indemnifiable Amount shall terminate ten (10)
years from the date of this Agreement and upon such date, escrow holder
shall remit any remaining funds in escrow to the Indemnifying Party and the
Indemnifying Party shall have no obligation to make any further payments to
AIMCO or AIMCO OP notwithstanding that the entire Indemnifiable Amount has
not been paid as of such date.

6. Further Assurances. From time to time, at the other party's request and
without further consideration, each party hereto shall execute and deliver
such additional documents and take all such further action as may be
reasonably necessary or desirable to consummate and make effective, in the
most expeditious manner practicable, the transactions contemplated by this
Agreement.

7. Certain Events. Each Stockholder agrees that this Agreement and the
obligations hereunder shall attach to such Stockholder's Shares and shall
be binding upon any person or entity to which legal or beneficial ownership
of such Shares shall pass, whether by operation of law or otherwise,
including without limitation, the Stockholder's administrators, successors
or receivers.

8. Stop Transfer. Each Stockholder agrees with, and covenants to, AIMCO
that it shall not request that Casden or PLB, or any of its agents,
register the transfer (book-entry or otherwise) of any certificate or
uncertificated interest representing any of the Shares unless such transfer
is made in compliance with this Agreement. Such Stockholder agrees to hold
all Shares in certificated form, and that, prior to effecting any transfer
of any Shares, it will present to the issuer the certificates representing
the Shares, and Casden or PLB, as the case may be, will inscribe upon the
certificates representing the Shares the following legend: "The shares of
stock represented by this certificate are subject to a Consent and Voting
Agreement and may not be sold or otherwise transferred, except in
accordance therewith. Copies of such Consent and Voting Agreement may be
obtained at the principal executive offices of the Company."

                  Such Stockholder agrees that it will not hold any Shares
in "street name" or in the name of any nominee.

9.       General Provisions.
         ------------------

         9.1 Notices. All notices and other communications hereunder shall
be in writing and shall be deemed given (a) when delivered personally, (b)
when sent by reputable overnight courier service, or (c) when telecopied
(which is confirmed by copy sent within one business day by a reputable
overnight courier service) to the parties at the following addresses (or at
such other address for a party as shall be specified by like notice):

(a)      If to AIMCO, to:
         ---------------

         Apartment Investment and Management Company
         18350 Mt. Langley Avenue, Suite 220
         Fountain Valley, CA  92708
         Attn:  Peter K. Kompaniez
         Telecopy:  (714) 593-1703
         Telephone:  (714) 593-1733

         and

         Apartment Investment and Management Company
         2000 South Colorado Boulevard
         Tower Two, Suite 2-1000
         Denver, CO  80222
         Attn:  Terry Considine and Harry Alcock
         Telecopy:  (303) 753-9538
         Telephone:  (303) 691-4330

         with copies (which shall not constitute notice) to:

         Skadden, Arps, Slate, Meagher & Flom LLP
         4 Times Square
         New York, NY  10036
         Attn:  Joseph A. Coco, Esq.
         Telecopy:  (212) 735-2000
         Telephone:  (212) 735-3000

         Skadden, Arps, Slate, Meagher & Flom LLP
         300 South Grand Avenue
         Los Angeles, CA  90071
         Attn:  Jonathan L. Friedman, Esq.
         Telecopy:  (213) 687-5600
         Telephone:  (213) 687-5000

(b)      If to any Stockholder:  to it at the address or fax number on its
         signature page.

         with copies (which shall not constitute notice) to:

         Gibson, Dunn & Crutcher LLP
         333 South Grand Avenue
         Los Angeles, CA  90071
         Attn:  Jesse Sharf, Esq. and Scott Calfas, Esq.
         Telecopy:  (213) 229-6638
         Telephone:  (213) 229-7638

         Blackacre Capital Management, LLC
         450 Park Avenue, 28th Floor
         New York, NY 10022
         Attn:  Mark Neporent/Ronald J. Kravit
         Telecopy:  (212) 891-2104
         Telephone:  (212) 891-1540

         Katten Muchin Zavis
         525 West Monroe Street, Suite 1600
         Chicago, IL 60661-3696
         Attn:  Nina Matis, Esq.
         Telecopy:  (312) 902-5560
         Telephone:  (312) 902-1061

         and

         Schulte, Roth & Zabel LLP
         919 Third Avenue
         New York, NY 10022
         Attn:  Alan Waldenberg, Esq.
         Telecopy:  (212) 756-2501
         Telephone:  (212) 593-5955

         9.2 Miscellaneous. This Agreement and the documents and
instruments referred to herein constitute the entire agreement and
supersede all other prior or contemporaneous oral or written agreements and
understandings among the parties, or any of them, with respect to the
subject matter hereof. This Agreement shall not be assigned by any party
and shall be governed by and construed in accordance with the laws of the
State of Maryland, without regard to its conflicts of laws principles.

         9.3 Interpretation. When a reference is made in this Agreement to
Sections or Exhibits, such reference shall be to a Section or Exhibit of
this Agreement, respectively, unless otherwise indicated. The headings
contained in this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation of this Agreement. Whenever
the words "include," "includes" or "including" are used in this Agreement,
they shall be deemed to be followed by the words "without limitation."

         9.4 Counterparts; Effect. This Agreement may be executed in two or
more counterparts, each of which shall be deemed to be an original, but all
of which shall constitute one and the same agreement.

         9.5 Parties' Interest. This Agreement shall be binding upon and
inure solely to the benefit of each party hereto, and nothing in this
Agreement, express or implied, is intended to confer upon any other Person
and rights or remedies of any nature whatsoever under or by reason of this
Agreement.

         9.6 Enforcement. The parties agree that irreparable damage would
occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the parties shall be entitled to an
injunction or injunctions to prevent breaches of this Agreement and to
enforce specifically the terms and provisions of this Agreement in any
court of the United States located in the State of Maryland or in Maryland
state court, these being the only remedies to which they are entitled other
than under the Merger Agreements or the Master Indemnification Agreement or
as explicitly set forth in this Agreement. In addition, each of the parties
hereto (a) consents to submit itself to the personal jurisdiction of any
federal court located in Maryland or any Maryland state court in the event
any dispute arises out of this Agreement or any of the Transactions, (b)
agrees that it will not attempt to deny such personal jurisdiction by
motion or other request for leave from any such court and (c) agrees that
it will not bring any action relating to this Agreement or any of the
Transactions in any court other than a federal or state court sitting in
the State of Maryland.

         9.7 Severability. The provisions of this Agreement shall be deemed
severable and the invalidity or unenforceability of any provision shall not
affect the validity or enforceability of the other provisions hereof. If
any provision of this Agreement, or the application thereof to any Person
or entity or any circumstance, is invalid or unenforceable, (a) a suitable
and equitable provision shall be substituted therefor in order to carry
out, so far as may be valid and enforceable, the intent and purpose of such
invalid or unenforceable provision and (b) the remainder of this Agreement
and the application of such provision to other Persons, entities or
circumstances shall not be affected by such invalidity or unenforceability,
nor shall such invalidity or unenforceability affect the validity or
enforceability of such provision, or the application thereof, in any other
jurisdiction.

         9.8 Amendment; Waiver. This Agreement may be amended, supplemented
or otherwise modified only by a written agreement executed by the party
against whom enforcement is sought. No provision of this Agreement
applicable to any Stockholder may be waived unless in writing signed by
AIMCO. Any provision of this Agreement applicable to AIMCO may be waived by
Stockholders holding a majority of the voting power of each class of Casden
Capital Stock. The waiver of any one provision of this Agreement shall not
be deemed to be a waiver of any other provision.

         9.9 Termination. This Agreement and the irrevocable proxies
granted in Section 1.3 hereof will terminate automatically with no further
action by any party upon the termination of the REIT Merger Agreement and
the PLB Agreement, in accordance with their respective terms and upon such
a termination, all proxies granted pursuant to this Agreement will then be
deemed automatically revoked and of no further force or effect.

         9.10 Expenses. Any costs and expenses, including without
limitation, the fees and expenses of their respective counsel and financial
advisors incurred in connection with this Agreement, shall be paid in
accordance with Section 7.8 of the REIT Merger Agreement and Section 2(d)
of the Master Indemnification Agreement.

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

                                   AIMCO:
                                   APARTMENT INVESTMENT AND MANAGEMENT COMPANY

                                   By:  /s/ Peter Kompaniez
                                        ---------------------------------------
                                        Name:  Peter Kompaniez
                                        Title:    President

                                   STOCKHOLDERS:

                                   /s/ Alan I. Casden
                                   --------------------------------------------
                                   Alan I. Casden
                                   Address:
                                   9090 Wilshire Blvd.
                                   Beverly Hills, California  90211
                                   Fax No.:  (310) 273-3848

                                   THE CASDEN COMPANY

                                   By:    /s/ Alan I. Casden
                                          -------------------------------------
                                        Name:  Alan I. Casden
                                        Capacity:  Chairman

                                   Address:
                                   9090 Wilshire Blvd.
                                   Beverly Hills, California  90211
                                   Fax No.:  (310) 273-3848

                                   CASDEN INVESTMENT CORP.

                                   By:    /s/ Alan I. Casden
                                          -------------------------------------
                                        Name:  Alan I. Casden
                                        Capacity:  Chairman

                                   Address:
                                   9090 Wilshire Blvd.
                                   Beverly Hills, California  90211
                                   Fax No.:  (310) 273-3848

                                   BA Casden Investors, LLC

                                   By:    /s/ Ronald Kravit
                                          -------------------------------------
                                        Name:     Ronald Kravit
                                        Capacity: Authorized Signatory

                                  Address:
                                  Blackacre Capital Management, LLC
                                  450 Park Avenue, 28th Floor
                                  New York, New York  10022
                                  Attn:  Mark Neporent/Ronald J. Kravit
                                  Fax No.:  (212) 891-2104

                                  Blackacre Park La Brea LLC

                                  By:    /s/ Ronald Kravit
                                         -------------------------------------
                                       Name:     Ronald Kravit
                                       Capacity: Authorized Signatory

                                  Address:
                                  Blackacre Capital Management, LLC
                                  450 Park Avenue, 28th Floor
                                  New York, New York  10022
                                  Attn:  Mark Neporent/Ronald J. Kravit
                                  Fax No.:  (212) 891-2104

                                  CASDEN PARK LA BREA MEMBER
                                        LLC

                                  By:  /s/ Andrew J. Starrels
                                       ---------------------------------------
                                         Name: Andrew J. Starrels
                                         Capacity: Senior Vice President
                                                   and General Counsel

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