Document:

Deed of Trust and Absolute Assignment of Rents and Leases

 Exhibit 10.54 
 Drawn by 
 and when recorded return to: 
 WELLS FARGO
BANK, N.A. 
 Commercial Mortgage Origination 
 MAC # A0194-093

 45 Fremont Street, 9th Floor 
 San Francisco, California 94105

  

			
	 Attention:
	  	CMO Loan Admin.
	 Loan No. :
	  	31-0905749
	 MERS MIN#:
	  	800010100000048883

 DEED OF TRUST 
 and 
 ABSOLUTE ASSIGNMENT OF RENTS AND LEASES 
 and 
 SECURITY AGREEMENT

 (AND FIXTURE FILING) 
 The parties
to this DEED OF TRUST AND ABSOLUTE ASSIGNMENT OF RENTS AND LEASES AND SECURITY AGREEMENT (AND FIXTURE FILING) (“Deed of Trust”), dated as of January 29, 2007, are KBS CRESCENT GREEN, LLC, a Delaware limited liability company
(“Trustor”), with a mailing address at 620 Newport Center Drive, Suite 1300, Newport Beach, California 92660, J. EDWARD BLAKEY (“Trustee”), and MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., a Delaware corporation
(“MERS” or “Beneficiary”), with a mailing address at MERS Commercial, P.O. Box 2300, Flint, Michigan 48501-2300. 
  

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 R E C I T A L S 
  

	A.	KBS CRESCENT GREEN, LLC, a Delaware limited liability company (“Borrower”) proposes to borrow from Wells Fargo Bank, National Association (“Lender”) and Lender
proposes to lend to Borrower the principal sum of THIRTY TWO MILLION FOUR HUNDRED THOUSAND AND NO/100THS DOLLARS ($32,400,000.00) (“Loan”). The Loan is evidenced by a promissory note (“Note”) executed by Borrower, dated the date
of this Deed of Trust, payable to the order of Lender in the principal amount of the Loan. The maturity date of the Loan is February 1, 2012. 

  

	B.	The loan documents include this Deed of Trust, the Note and the other documents described in the Note as Loan Documents (“Loan Documents”). 

 ARTICLE 1. DEED OF TRUST 
  

	1.1	GRANT. For the purposes of and upon the terms and conditions of this Deed of Trust, Trustor irrevocably grants, conveys and assigns to Trustee, in trust for the
benefit of Beneficiary, with power of sale and right of entry and possession, all estate, right, title and interest which Trustor now has or may hereafter acquire in, to, under or derived from any or all of the following: 

 

	 	a.	That certain Ground Lease Agreement, dated October 1, 2006, by and between Crescent 1200, L.L.C., a Delaware limited liability company (“Landlord”), and Crescent
1300, L.L.C., a Delaware limited liability company, as the “Original Tenant,” as amended by Ground Lease Modification Agreement No. 1, dated December 20, 2006, the tenant’s interest in which was assigned to and assumed by
Trustor under and pursuant to a certain Assignment and Assumption of Ground Lease, dated January 31, 2007, between Original Tenant (as Assignor/Seller) and Trustor (as Assignee/Buyer), all with respect to property located on those certain lots,
pieces, tracts and parcels of land located in the County of Wake, State of North Carolina, and more particularly described on Exhibit A attached hereto (“Land”). The original lease, together with all amendments, modifications,
extensions and assignments heretofore, now or hereafter entered into are hereinafter collectively referred to as the “Ground Lease”; 

  

	 	b.	That real property (“Land”) located in Cary, County of Wake, State of North Carolina, and more particularly described on Exhibit A attached hereto;

  

	 	c.	All appurtenances, easements, rights of way, water and water rights, pumps, pipes, flumes and ditches and ditch rights, water stock, ditch and/or reservoir stock or interests,
royalties, development rights and credits, air rights, minerals, oil rights, and gas rights, now or later used or useful in connection with, appurtenant to or related to the Land; 

  

	 	d.	All buildings, structures, facilities, other improvements and fixtures now or hereafter located on the Land; 

  

	 	e.	All apparatus, equipment, machinery and appliances and all accessions thereto and renewals and replacements thereof and substitutions therefor used in the operation or occupancy of
the Land, it being intended by the parties that all such items shall be conclusively considered to be a part of the Land, whether or not attached or affixed to the Land; 

  

	 	f.	All land lying in the right-of-way of any street, road, avenue, alley or right-of-way opened, proposed or vacated, and all sidewalks, strips and gores of land adjacent to or used in
connection with the Land; 

  

	 	g.	All additions and accretions to the property described above; 

  

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	 	h.	All licenses, authorizations, certificates, variances, consents, approvals and other permits now or hereafter pertaining to the Land and all estate, right, title and interest of
Trustor in, to, under or derived from all tradenames or business names relating to the Land or the present or future development, construction, operation or use of the Land; and 

  

	 	i.	All proceeds of any of the foregoing. 

 All of the property
described above is hereinafter collectively defined as the “Property”. The listing of specific rights or property shall not be interpreted as a limitation of general terms. 
 TO HAVE AND TO HOLD the Property and all the estate, right, title and interest, in law and in equity, of Trustor’s in and to the Property unto Trustee, its successors and assigns, in fee simple, forever.

 IN TRUST, HOWEVER, that if all Secured Obligations are timely paid and performed and each and every representation, warranty, agreement, and condition of
this Deed of Trust, the other Loan Documents, and any swap agreements are complied with and abided by, this Deed of Trust and the estate hereby created shall cease and be null, void, and canceled of record at the request and expense of Trustor, and
if Default occurs, Trustee is authorized to foreclose and sell the Property under power of sale or by judicial proceeding according to applicable law and as provided herein. 
 ARTICLE 2. OBLIGATIONS SECURED 
  

	1.2	OBLIGATIONS SECURED. Trustor makes the foregoing grant and assignment for the purpose of securing the following obligations (“Secured Obligations”):

  

	 	a.	Full and punctual payment to Lender of all sums at any time owing under the Note; 

  

	 	b.	Payment and performance of all covenants and obligations of Trustor under this Deed of Trust including, without limitation, indemnification obligations and advances made to protect
the Property; 

  

	 	c.	Payment and performance of all additional covenants and obligations of Borrower and Trustor under the Loan Documents; 

  

	 	d.	Payment and performance of all covenants and obligations, if any, which any rider attached as an exhibit to this Deed of Trust recites are secured hereby; 

 

	 	e.	Payment and performance of all future advances and other obligations that the then record owner of all or part of the Property may agree to pay and/or perform (whether as principal,
surety or guarantor) for the benefit of Beneficiary, when the obligation is evidenced by a writing which recites that it is secured by this Deed of Trust; 

  

	 	f.	All interest and charges on all obligations secured hereby including, without limitation, prepayment charges, late charges and loan fees; 

  

	 	g.	All modifications, extensions and renewals of any of the obligations secured hereby, however evidenced, including, without limitation: (i) modifications of the required
principal payment dates or interest payment dates or both, as the case may be, deferring or accelerating payment dates wholly or partly; and (ii) modifications, extensions or renewals at a different rate of interest whether or not any such
modification, extension or renewal is evidenced by a new or additional promissory note or notes; and 

  

	 	h.	Payment and performance of any other obligations which are defined as “Secured Obligations” in the Note. 

  

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	1.3	OBLIGATIONS. The term “obligations” is used herein in its broadest and most comprehensive sense and shall be deemed to include, without limitation, all
interest and charges, prepayment charges, late charges and loan fees at any time accruing or assessed on any of the Secured Obligations. 

  

	1.4	INCORPORATION. All terms and conditions of the documents which evidence any of the Secured Obligations are incorporated herein by this reference. All persons who may
have or acquire an interest in the Property shall be deemed to have notice of the terms of the Secured Obligations and to have notice that the rate of interest on one or more Secured Obligation may vary from time to time. 

ARTICLE 3. ABSOLUTE ASSIGNMENT OF RENTS AND LEASES 
  

	1.5	ASSIGNMENT. Trustor irrevocably assigns to Beneficiary all of Trustor’s right, title and interest in, to and under: (a) all present and future leases of the
Property or any portion thereof, all licenses and agreements relating to the management, leasing or operation of the Property or any portion thereof, and all other agreements of any kind relating to the use or occupancy of the Property or any
portion thereof, whether such leases, licenses and agreements are now existing or entered into after the date hereof (“Leases”); and (b) the rents, issues, deposits and profits of the Property, including, without limitation, all
amounts payable and all rights and benefits accruing to Trustor under the Leases (“Payments”). The term “Leases” shall also include all guarantees of and security for the tenants’ performance thereunder, and all amendments,
extensions, renewals or modifications thereto which are permitted hereunder. This is a present and absolute assignment, not an assignment for security purposes only, and Beneficiary’s right to the Leases and Payments is not contingent upon, and
may be exercised without possession of, the Property. 

  

	1.6	GRANT OF LICENSE. Beneficiary confers upon Trustor a revocable license (“License”) to collect and retain the Payments as they become due and payable, until
the occurrence of a Default (as hereinafter defined). Upon a Default, the License shall be automatically revoked and Beneficiary may collect and apply (subject to the terms of the other Loan Documents) the Payments pursuant to the terms hereof
without notice and without taking possession of the Property. All Payments thereafter collected by Trustor shall be held by Trustor as trustee under a constructive trust for the benefit of Beneficiary, subject to the terms of the other Loan
Documents. Trustor hereby irrevocably authorizes and directs the tenants under the Leases to rely upon and comply with any notice or demand by Beneficiary for the payment to Beneficiary of any rental or other sums which may at any time become due
under the Leases, or for the performance of any of the tenants’ undertakings under the Leases, and the tenants shall have no right or duty to inquire as to whether any Default has actually occurred or is then existing. Trustor hereby relieves
the tenants from any liability to Trustor by reason of relying upon and complying with any such notice or demand by Beneficiary. Beneficiary may apply, in its sole discretion, any Payments so collected by Beneficiary against any Secured Obligation
or any other obligation of Borrower, Trustor or any other person or entity, under any document or instrument related to or executed in connection with the Loan Documents, whether existing on the date hereof or hereafter arising. Collection of any
Payments by Beneficiary shall not cure or waive any Default or notice of Default or invalidate any acts done pursuant to such notice. If and when no Default exists, Beneficiary shall re-confer the License upon Trustor until the occurrence of another
Default. 

  

	1.7	EFFECT OF ASSIGNMENT. The foregoing irrevocable assignment shall not cause Beneficiary to be: (a) a mortgagee in possession; (b) responsible or liable for
the control, care, management or repair of the Property or for performing any of the terms, agreements, undertakings, obligations, representations, warranties, covenants and conditions of the Leases; (c) responsible or liable for any waste
committed on the Property by the tenants under any of the Leases or by any other parties; for any dangerous or defective condition of the Property; or for any negligence in the management, upkeep, repair or control of the Property resulting in loss
or injury or death to any tenant, licensee, employee, invitee or other person; or (d) responsible for or impose upon Beneficiary any duty to produce rents or profits. Beneficiary shall not directly or indirectly be liable to Trustor or any
other person as a consequence of: (e) the exercise or failure to exercise any of the rights, remedies or powers granted to Beneficiary hereunder; or (f) the failure or refusal of Beneficiary to perform or discharge any obligation, duty or
liability of Trustor arising under the Leases. 

  

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	1.8	COVENANTS-LONG TERM LEASES. 

 I. The
following leasing restrictions shall apply so long as KBS Crescent Green, LLC, a Delaware limited liability company is the owner of the Property: 
  

	 	a.	Trustor may enter into any new lease for space in the Property (“New Lease”) or modify any existing lease or any New Lease (“Lease Modification”) without
Beneficiary’s consent, except that Beneficiary’s prior written consent shall be required: 

  

	 	(i)	if the Mezzanine Loan (as defined in the Note) has been repaid and the Lease Modification relates to the ACS Lease, and either, (x) the Lease Modification causes the effective
rent under the affected ACS Lease (as defined in the Note) to be below the fair market rate (taking into account tenant improvement allowances and other concessions), or (y) such Lease Modification would reduce the term of the ACS lease to less
than three (3) years from the date of the Lease Modification; or 

  

	 	(ii)	if a Default has occurred and is then existing. 

  

	 	b.	If Trustor receives any sums in consideration of a termination, modification or amendment of any lease or any release or discharge of any tenant under any lease (any such
terminated, modified or amended lease or any lease from which the tenant is released or discharged is referred to herein as the “Affected Lease”) from any obligation thereunder (each a “Termination Payment”), such amounts shall
be held in trust or retained by Trustor as follows: (i) if such Termination Payment is less than $100,000, such Termination Payment shall be payable to Trustor; (ii) if such Termination Payment is equal to or greater than $100,000 (or, in
the case of the 1200 Lease (as defined in the Note), greater than one month’s rent), Trustor shall deposit such Termination Payment with Beneficiary to be held by Beneficiary as an impound in a pledged account. Trustor shall be permitted to
withdraw funds from such impounds to pay leasing costs for releasing the space demised under the Affected Lease when such costs are incurred. In addition, funds in excess of the projected amount necessary to pay for such leasing costs may be
withdrawn from such reserve and deposited into the Borrower’s Operating Account (as defined in the Cash Management Agreement) on a monthly basis in equal monthly disbursements amortized over the remaining term of the Affected Lease. In
addition, if (i) the space demised under the Affected Lease is re-leased, in whole or in part, (ii) the new tenant has commenced occupancy and (iii) the tenant has executed and delivered to Beneficiary a tenant estoppel certificate
reasonably acceptable to Beneficiary using commercial standards customarily applied by prudent institutional mortgage lenders for similar loans, then a pro rata portion of the remaining amount of impounded funds with respect to such space may be
deposited into the Borrower’s Operating Account based upon the percentage of the subject space which is demised under the new lease (e.g. if fifty percent (50%) of the subject space is re-leased and the conditions in clauses
(i) through (iii) are satisfied with respect to such space, then fifty percent (50%) of the remaining amount of funds impounded for such space shall be disbursed). Notwithstanding the foregoing, Permitted REIT Distributions (as
defined in the Note) shall have priority over the requirement to deposit such funds in any impound account other than funds arising from any termination, modification or amendment of the 1200 Lease. 

  

	 	c.	With respect to any New Lease and/or Lease Modification that requires Beneficiary’s consent as provided above, Beneficiary shall not unreasonably withhold its consent and its
failure to respond within five (5) business days following Trustor’s request for Beneficiary’s consent shall be deemed to constitute Beneficiary’s consent to any such request. 

  

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 II. The following provisions shall apply to any owner of the Property other than KBS Crescent Green, LLC,
a Delaware limited liability company, that assumes the loan and shall not, in any way, be binding upon KBS Crescent Green, LLC. 
  

	 	a.	All Leases. Trustor shall, at Trustor’s sole cost and expense: 

  

	 	(i)	perform all obligations of the landlord under the Leases and use reasonable efforts to enforce performance by the tenants of all obligations of the tenants under the Leases;

  

	 	(ii)	use reasonable efforts to keep the Property leased at all times to tenants which Trustor reasonably and in good faith believes are creditworthy at rents not less than the fair
market rental value (including, but not limited to, free or discounted rents to the extent the market so requires); 

  

	 	(iii)	promptly upon Beneficiary’s request, deliver to Beneficiary a copy of each requested Lease and all amendments thereto and waivers thereof; and 

  

	 	(iv)	promptly upon Beneficiary’s request, execute and record any additional assignments of landlord’s interest under any Lease to Beneficiary and specific subordinations of any
Lease to this Deed of Trust, in form and substance satisfactory to Beneficiary. 

 Unless consented to in writing by Beneficiary
or otherwise permitted under any other provision of the Loan Documents, Trustor shall not: 
  

	 	(v)	grant any tenant under any Lease any option, right of first refusal or other right to purchase all or any portion of the Property under any circumstances; 

 

	 	(vi)	grant any tenant under any Lease any right to prepay rent more than 1 month in advance; 

  

	 	(vii)	except upon Beneficiary’s request, execute any assignment of landlord’s interest in any Lease; or 

  

	 	(viii)	collect rent or other sums due under any Lease in advance, other than to collect rent 1 month in advance of the time when it becomes due. 

 Any such attempted action in violation of the provisions of this Section shall be null and void. 
 Trustor shall deposit with Beneficiary any sums received by Trustor in consideration of any termination, modification or amendment of any Lease or any
release or discharge of any tenant under any Lease from any obligation thereunder and any such sums received by Trustor shall be held in trust by Trustor for such purpose. Notwithstanding the foregoing, so long as no Default exists, the portion of
any such sum received by Trustor with respect to any Lease which is less than $50,000 shall be payable to Trustor. All such sums received by Beneficiary with respect to any Lease shall be deemed “Impounds” (as defined in
Section 1.29b) and shall be deposited by Beneficiary into a pledged account in accordance with Section 1.29b. If no Default exists, Beneficiary shall release such Impounds to Trustor from time to time as necessary to pay or reimburse
Trustor for such tenant improvements, brokerage commissions and other leasing costs as may be required to re-tenant the affected space; provided, however, Beneficiary shall have received and approved each of the following for each tenant for which
such costs were incurred; (1) Trustor’s written request for such release, including the name of the tenant, the location and net rentable area of the space and a description and cost breakdown of the tenant improvements or other leasing
costs covered by the request; (2) Trustor’s certification that any tenant improvements have been completed lien-free and in a workmanlike manner; (3) a fully executed Lease, or extension or renewal of the current Lease; (4) an
estoppel certificate executed by the tenant including its acknowledgement that all tenant improvements have been satisfactorily completed; and (5) such other information with respect to such costs as Beneficiary may require. Following the
re-tenanting of all affected space (including, 

  

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without limitation, the completion of all tenant improvements), and provided no Default exists, Beneficiary shall release any remaining such Impounds
relating to the affected space to Trustor. Trustor shall construct all tenant improvements in a workmanlike manner and in accordance with all applicable laws, ordinances, rules and regulations. 
  

	 	b.	Major Leases. Trustor shall, at Trustor’s sole cost and expense, give Beneficiary prompt written notice of any material default by landlord or tenant under any
Major Lease (as defined below). Unless consented to in writing by Beneficiary or otherwise permitted under any other provision of the Loan Documents, Trustor shall not: 

  

	 	(i)	enter into any Major Lease; 

  

	 	(ii)	reduce any rent or other sums due from the tenant under any Major Lease; 

  

	 	(iii)	terminate or materially modify or amend any Major Lease; or 

  

	 	(iv)	release or discharge the tenant or any guarantor under any Major Lease from any material obligation thereunder. 

 Any such attempted action in violation of the provisions of this Section shall be null and void. 
 “Major Lease”, as used herein, shall mean any Lease, which is, at any time: (1) a Lease of more than 20% of the total rentable area of the
Property, as reasonably determined by Beneficiary; or (2) a Lease which generates a gross base monthly rent exceeding 20% of the total gross base monthly rent generated by all Leases (excluding all Leases under which the tenant is then in
default), as reasonably determined by Beneficiary. Trustor’s obligations with respect to Major Leases shall be governed by the provisions of Section 3.4.II.a. as well as by the provisions of this Section. 
 “materially modify or amend,” as used in Section 3.4.II.b.(iii) above, shall mean an amendment or modification to an existing Lease
that changes the economic terms of the Lease in a way that decreases the effective rent per net rentable square foot (taking into account tenant improvement allowances and other concessions) payable thereunder or that shortens the total Lease term.

  

	 	c.	Failure to Deny Request. Beneficiary’s failure to deny any written request by Trustor for Beneficiary’s consent under the provisions of Sections 3.4.II.a. or
3.4.II.b within 10 Business Days after Beneficiary’s receipt of such request (and all documents and information reasonably related thereto) shall be deemed to constitute Beneficiary’s consent to such request. 

  

	1.9	ESTOPPEL CERTIFICATES. Within 30 days after request by Beneficiary, Trustor shall deliver to Beneficiary and to any party designated by Beneficiary, estoppel
certificates relating to the Leases executed by Trustor and by each of the tenants, in form and substance acceptable to Beneficiary; provided, however, if any tenant shall fail or refuse to so execute and deliver any such estoppel certificate upon
request, Trustor shall use reasonable efforts to cause such tenant to execute and deliver such estoppel certificate but such tenant’s continued failure or refusal to do so, despite Trustor’s reasonable efforts, shall not constitute a
default by Trustor under this Section. 

  

	1.10	RIGHT OF SUBORDINATION. Beneficiary may at any time and from time to time by specific written instrument intended for the purpose unilaterally subordinate the lien of
this Deed of Trust to any Lease, without joinder or consent of, or notice to, Trustor, any tenant or any other person. Notice is hereby given to each tenant under a Lease of such right to subordinate. No subordination referred to in this Section
shall constitute a subordination to any lien or other encumbrance, whenever arising, or improve the right of any junior lienholder. Nothing herein shall be construed as subordinating this Deed of Trust to any Lease. 

  

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 ARTICLE 4. SECURITY AGREEMENT AND FIXTURE FILING 
  

	1.11	SECURITY INTEREST. Trustor grants and assigns to Beneficiary a security interest to secure payment and performance of all of the Secured Obligations, in all of the
following described personal property in which Trustor now or at any time hereafter has any interest (“Collateral”): 

 All goods, building and other materials, supplies, work in process, equipment, machinery, fixtures, furniture, furnishings, signs and other personal property, wherever situated, which are or are to be incorporated into, used in connection
with or appropriated for use on the Property; all rents, issues, deposits and profits of the Property (to the extent, if any, they are not subject to the Absolute Assignment of Rents and Leases); all inventory, accounts, cash receipts, deposit
accounts, impounds, accounts receivable, contract rights, general intangibles, software, chattel paper, instruments, documents, promissory notes, drafts, letters of credit, letter of credit rights, supporting obligations, insurance policies,
insurance and condemnation awards and proceeds, any other rights to the payment of money, trade names, trademarks and service marks arising from or related to the Property or any business now or hereafter conducted thereon by Trustor; all permits,
consents, approvals, licenses, authorizations and other rights granted by, given by or obtained from, any governmental entity with respect to the Property; all deposits or other security now or hereafter made with or given to utility companies by
Trustor with respect to the Property; all advance payments of insurance premiums made by Trustor with respect to the Property; all plans, drawings and specifications relating to the Property; all loan funds held by Beneficiary, whether or not
disbursed; all funds deposited with Beneficiary pursuant to any Loan Document, all reserves, deferred payments, deposits, accounts, refunds, cost savings and payments of any kind related to the Property or any portion thereof, including, without
limitation, all “Impounds” as defined herein; and all rights of Trustor under the Ground Lease and as lessee under all personal property leases with respect to the Property; together with all replacements and proceeds of, and additions and
accessions to, any of the foregoing, and all books, records and files relating to any of the foregoing. 
 As to all of the above-described
personal property which is or which hereafter becomes a “fixture” under applicable law, this Deed of Trust constitutes a fixture filing under the North Carolina Uniform Commercial Code, as amended or recodified from time to time
(“UCC”). 
  

	1.12	COVENANTS. Trustor agrees: (a) to execute and deliver such documents as Beneficiary deems necessary to create, perfect and continue the security interests
contemplated hereby; (b) not to change its name, and, as applicable, its chief executive offices, its principal residence or the jurisdiction in which it is organized without giving Beneficiary at least 30 days’ prior written notice
thereof; and (c) to cooperate with Beneficiary in perfecting all security interests granted herein and in obtaining such agreements from third parties as Beneficiary deems necessary, proper or convenient in connection with the preservation,
perfection or enforcement of any of Beneficiary’s rights hereunder. 

  

	1.13	RIGHTS OF BENEFICIARY. In addition to Beneficiary’s rights as a “Secured Party” under the UCC, Beneficiary may, but shall not be obligated to, at any
time without notice and at the expense of Trustor: (a) give notice to any person of Beneficiary’s rights hereunder and enforce such rights at law or in equity; (b) insure, protect, defend and preserve the Collateral or any rights or
interests of Beneficiary therein; and (c) inspect the Collateral. Notwithstanding the above, in no event shall Beneficiary be deemed to have accepted any property other than cash in satisfaction of any obligation of Trustor to Beneficiary
unless Beneficiary shall make an express written election of said remedy under the UCC or other applicable law. 

  

	1.14	RIGHTS OF BENEFICIARY UPON DEFAULT. Upon the occurrence of a Default, then in addition to all of Beneficiary’s rights as a “Secured Party” under the UCC
or otherwise at law: 

  

	 	a.	Disposition of Collateral. Beneficiary may: (i) upon written notice, require Trustor to assemble any or all of the Collateral and make it available to Beneficiary
at a place designated by Beneficiary; (ii) without prior notice, enter upon the Property or other place where the Collateral may be located and take possession of, collect, sell, lease, license, and otherwise dispose of the Collateral, and
store the same at locations acceptable to Beneficiary at Trustor’s expense; or (iii) sell, assign and deliver the Collateral at any place or in any lawful manner and bid and become purchaser at any such sales; and 

 

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	 	b.	Other Rights. Beneficiary may, for the account of Trustor and at Trustor’s expense: (i) operate, use, consume, sell, lease, license or otherwise dispose of
the Collateral as Beneficiary deems appropriate for the purpose of performing any or all of the Secured Obligations; (ii) enter into any agreement, compromise or settlement including insurance claims, which Beneficiary may deem desirable or
proper with respect to the Collateral; and (iii) endorse and deliver evidences of title for, and receive, enforce and collect by legal action or otherwise, all indebtedness and obligations now or hereafter owing to Trustor in connection with or
on account of the Collateral. 

 Trustor acknowledges and agrees that a disposition of the Collateral in accordance with
Beneficiary’s rights and remedies as heretofore provided is a disposition thereof in a commercially reasonable manner and that 10 days’ prior notice of such disposition is commercially reasonable notice. Beneficiary shall have no
obligation to process or prepare the Collateral for sale or other disposition. In disposing of the Collateral, Beneficiary may disclaim all warranties of title, possession, quiet enjoyment and the like. Any proceeds of any sale or other disposition
of the Collateral may be applied by Beneficiary first to the reasonable expenses incurred by Beneficiary in connection therewith, including, without limitations, reasonable attorneys’ fees and disbursements, and then to the payment of the
Secured Obligations, in such order of application as Beneficiary may from time to time elect. 
  

	1.15	POWER OF ATTORNEY. Trustor hereby irrevocably appoints Beneficiary as Trustor’s attorney-in-fact (such agency being coupled with an interest), and as such
attorney-in-fact, Beneficiary may, without the obligation to do so, in Beneficiary’s name or in the name of Trustor, prepare, execute, file and record financing statements, continuation statements, applications for registration and like papers
necessary to create, perfect or preserve any of Beneficiary’s security interests and rights in or to the Collateral, and upon a Default, take any other action required of Trustor; provided, however, that Beneficiary as such
attorney-in-fact shall be accountable only for such funds as are actually received by Beneficiary. 

 ARTICLE 5.
REPRESENTATIONS AND WARRANTIES 
  

	1.16	REPRESENTATIONS AND WARRANTIES. Trustor represents and warrants to Beneficiary that, to Trustor’s current actual knowledge after reasonable investigation and
inquiry, the following statements are true and correct as of the Effective Date: 

  

	 	a.	Legal Status. Trustor and Borrower are duly organized and existing and in good standing under the laws of the state(s) in which Trustor and Borrower are organized.
Trustor and Borrower are qualified or licensed to do business in all jurisdictions in which such qualification or licensing is required. 

  

	 	b.	Permits. Trustor and Borrower possess all permits, franchises and licenses and all rights to all trademarks, trade names, patents and fictitious names, if any,
necessary to enable Trustor and Borrower to conduct the business(es) in which Trustor and Borrower are now engaged in compliance with applicable law. 

  

	 	c.	Authorization and Validity. The execution and delivery of the Loan Documents have been duly authorized and the Loan Documents constitute valid and binding obligations
of Trustor, Borrower or the party which executed the same, enforceable in accordance with their respective terms, except as such enforcement may be limited by bankruptcy, insolvency, moratorium or other laws affecting the enforcement of
creditors’ rights, or by the application of rules of equity. 

  

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	 	d.	Violations. The execution, delivery and performance by Trustor and Borrower of each of the Loan Documents do not violate any provision of any law or regulation, or
result in any breach or default under any contract, obligation, indenture or other instrument to which Trustor or Borrower is a party or by which Trustor or Borrower is bound. 

  

	 	e.	Litigation. There are no pending or threatened actions, claims, investigations, suits or proceedings before any governmental authority, court or administrative agency
which may adversely affect the financial condition or operations of Trustor or Borrower other than those previously disclosed in writing by Trustor or Borrower to Beneficiary. 

  

	 	f.	Financial Statements. The financial statements of Trustor and Borrower, of each general partner (if Trustor or Borrower is a partnership), of each member (if Trustor
or Borrower is a limited liability company) and of each guarantor, if any, previously delivered by Trustor or Borrower to Beneficiary: (i) are materially complete and correct; (ii) present fairly the financial condition of such party; and
(iii) have been prepared in accordance with the same accounting standard used by Trustor or Borrower to prepare the financial statements delivered to and approved by Beneficiary in connection with the making of the Loan, or other accounting
standards approved by Beneficiary. Since the date of such financial statements, there has been no material adverse change in such financial condition, nor have any assets or properties reflected on such financial statements been sold, transferred,
assigned, mortgaged, pledged or encumbered except as previously disclosed in writing by Trustor or Borrower to Beneficiary and approved in writing by Beneficiary. 

  

	 	g.	Reports. All reports, documents, instruments and information delivered to Beneficiary in connection with the Loan: (i) are correct and sufficiently complete to
give Beneficiary accurate knowledge of their subject matter; and (ii) do not contain any misrepresentation of a material fact or omission of a material fact which omission makes the provided information misleading. 

  

	 	h.	Income Taxes. There are no pending assessments or adjustments of Trustor’s or Borrower’s income tax payable with respect to any year.

  

	 	i.	Subordination. There is no agreement or instrument to which Borrower is a party or by which Borrower is bound that would require the subordination in right of payment
of any of Borrower’s obligations under the Note to an obligation owed to another party. 

  

	 	j.	 Title. Trustor lawfully holds and possesses the entire unencumbered leasehold estate in the Land created by the Ground Lease, and has good and
marketable fee simple title to all of the other Property, without limitation on the right to encumber same except as disclosed in the title insurance policy delivered to Beneficiary in connection with the Loan. A true, correct and complete copy of
the Ground Lease has been delivered to Beneficiary by (or on behalf of) Trustor. This Deed of Trust is a first lien on the Property prior and superior to all other liens and encumbrances on the Property except: (i) liens for real estate taxes
and assessments not yet due and payable; (ii) senior exceptions previously approved by Beneficiary and shown in the title insurance policy insuring the lien of this Deed of Trust; and (iii) other matters, if any, previously disclosed to
Beneficiary by Trustor in a writing specifically referring to this representation and warranty. None of the senior exceptions to the Deed of Trust materially and adversely interferes with the current use of the Property, the security intended to be
provided by the Deed of Trust, the Borrower’s ability to pay the Secured Obligations when and as due or the value of the Property. The Ground Lease is in full force and effect and has not been modified or amended in any manner whatsoever. There
are no defaults under the Ground Lease by either party thereto, and no even has occurred, which but for the passage of time, or notice, or both, would constitute a default under the Ground Lease. All rents, additional rents and other sums due and
payable under the Ground Lease have 

  

 10 

	 	 
been paid in full. Neither Trustor nor Landlord has commenced any action or given or received any notice for the purpose of terminating the Ground Lease.
Except for the Ground Lease, there are no agreements between Trustor and Landlord in any way concerning the subject matter of the Ground Lease or the occupancy or use of the Property. The interest of Trustor under the Ground Lease has not been
assigned. No portion of the Property has been sublet, except as disclosed to Beneficiary by Trustor in an estoppel delivered to Trustor or otherwise. Trustor shall forever warrant, defend and preserve such title and the validity and priority of the
lien of this Deed of Trust to Beneficiary against the claims of all persons whomsoever 

  

	 	k.	Mechanics’ Liens. There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that
under law could give rise to any such liens) affecting the Property which are or may be prior to or equal to the lien of this Deed of Trust. 

  

	 	l.	Encroachments. Except as shown in the survey, if any, previously delivered to Beneficiary, none of the buildings or other improvements which were included for the
purpose of determining the appraised value of the Property lies outside of the boundaries or building restriction lines of the Property and no buildings or other improvements located on adjoining properties encroach upon the Property.

  

	 	m.	Leases. Except as disclosed to Beneficiary in a written notice specifically identifying the same: (i) all existing Leases are in full force and effect and are
enforceable in accordance with their respective terms; (ii) no material breach or default by any party, or event which would constitute a material breach or default by any party after notice or the passage of time, or both, exists under any
existing Lease; (iii) none of the landlord’s interests under any of the Leases, including, but not limited to, rents, additional rents, charges, issues or profits, has been transferred or assigned; and (iv) no rent or other payment
under any existing Lease has been paid by any tenant for more than 1 month in advance. 

  

	 	n.	Collateral. Trustor has good title to the existing Collateral, free and clear of all liens and encumbrances except those, if any, previously disclosed to Beneficiary
by Trustor in writing specifically referring to this representation and warranty. Trustor’s chief executive office (or principal residence, if applicable) is located at the address shown on page one of this Deed of Trust. Trustor is an
organization organized solely under the laws of the State of Delaware. All organizational documents of Trustor delivered to Beneficiary are complete and accurate in every respect. Trustor’s legal name is exactly as shown on page one of this
Deed of Trust. 

  

	 	o.	Condition of Property. Except as shown in the property condition survey or other engineering reports, if any, previously delivered to or obtained by Beneficiary, the
Property is in good condition and repair and is free from any damage that would materially and adversely affect the value of the Property as security for the Loan or the intended use of the Property. 

  

	 	p.	Hazardous Materials. Except as shown in the environmental assessment report(s), if any, previously delivered to or obtained by Beneficiary, the Property is not and has
not been a site for the use, generation, manufacture, storage, treatment, release, threatened release, discharge, disposal, transportation or presence of Hazardous Materials (as hereinafter defined) except as otherwise previously disclosed in
writing by Trustor to Beneficiary. 

  

	 	q.	Hazardous Materials Laws. Except as disclosed in the environmental assessment reports delivered to the Lender, the Property complies with all Hazardous Materials Laws
(as hereinafter defined). 

  

	 	r.	Hazardous Materials Claims. Except as disclosed in the environmental assessment reports delivered to the Lender, there are no pending or threatened Hazardous Materials
Claims (as hereinafter defined). 

  

	 	s.	Wetlands. Except as expressly identified in the survey delivered to the Lender, no part of the Property consists of or is classified as wetlands, tidelands or swamp
and overflow lands. 

  

 11 

	 	t.	Compliance With Laws. All federal, state and local laws, rules and regulations applicable to the Property, including, without limitation, all zoning and building
requirements and all requirements of the Americans With Disabilities Act of 1990, as amended from time to time (42 U. S. C. Section 12101 et seq.) have been satisfied or complied with. Trustor is in possession of all certificates of occupancy
and all other licenses, permits and other authorizations required by applicable law for the existing use of the Property. All such certificates of occupancy and other licenses, permits and authorizations are valid and in full force and effect.

  

	 	u.	Property Taxes and Other Liabilities. All taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, and ground rents, if any, which
previously became due and owing in respect of the Property have been paid or will be paid prior to delinquency. 

  

	 	v.	Condemnation. There is no proceeding pending or threatened for the total or partial condemnation of the Property. 

  

	 	w.	Homestead. There is no homestead or other exemption available to Trustor which would materially interfere with the right to sell the Property at a trustee’s sale
or the right to foreclose this Deed of Trust. 

  

	 	x.	Solvency. None of the transactions contemplated by the Loan will be or have been made with an actual intent to hinder, delay or defraud any present or future creditors
of Trustor, and Trustor, on the Effective Date, will have received fair and reasonably equivalent value in good faith for the grant of the liens or security interests effected by the Loan Documents. On the Effective Date, Trustor will be solvent and
will not be rendered insolvent by the transactions contemplated by the Loan Documents. Trustor is able to pay its debts as they become due. 

  

	 	y.	Separate Tax Parcel(s). The Property is assessed for the real estate tax purposes as one or more wholly independent tax parcels, separate from any other real property,
and no other real property is assessed and taxed together with the Property or any portion thereof. 

  

	 	z.	Utilities; Water; Sewer. The Property is served by all utilities required for the current or contemplated use thereof. All utility service is provided by public
utilities and the Property has accepted or is equipped to accept such utility service. The Property is served by public water and sewer systems. 

  

	 	aa.	ERISA Matters. Trustor is not an employee benefit plan as defined in Section 3.(3) of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), which is subject to Title I of ERISA, nor a plan as defined in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended (each of the foregoing hereinafter referred to individually and collectively as a
“Plan”). Trustor’s assets do not constitute “plan assets” of any plan within the meaning of Department of Labor Regulation Section 2510.3-101. Trustor will not transfer or convey the Property to a Plan or to a person or
entity whose assets constitute such “plan assets”, and Trustor will not be reconstituted as a Plan or as an entity whose assets constitute “plan assets”. With respect to the Loan, Trustor is acting on Trustor’s own behalf
and not on account of or for the benefit of any Plan. 

  

	1.17	REPRESENTATIONS, WARRANTIES AND COVENANTS REGARDING STATUS (LEVEL V SPE). Trustor hereby represents, warrants and covenants to Beneficiary that with respect to both
Trustor and KBS REIT ACQUISITION IX, LLC, a Delaware limited liability company, the sole member of Trustor: 

  

	 	a.	each such entity was organized solely for the purpose of (i) owning the Property; (ii) acting as a general partner of a partnership which owns the Property; or
(iii) acting as a member of a limited liability company which owns the Property; 

  

 12 

	 	b.	each such entity has not and will not engage in any business unrelated to (i) the ownership of the Property; (ii) acting as general partner of a partnership which owns the
Property; or (iii) acting as a member of a limited liability company which owns the Property; 

  

	 	c.	each such entity has not and will not have any assets other than the Property (and personal property incidental to the ownership and operation of the Property) or its partnership or
membership interest in the partnership or limited liability company which owns the Property; 

  

	 	d.	each such entity has not and will not engage in, seek or consent to any dissolution, winding up, liquidation, consolidation, merger, asset sale, or transfer of partnership or
membership interest as applicable; 

  

	 	e.	each such entity has not and will not engage in, seek or consent to any amendment of its articles of organization, certificate of formation, or operating agreement, if such
amendment would impair the special purpose bankruptcy remote structure of Borrower or KBS REIT ACQUISITION IX, LLC, or result in the violation of the transfer provisions of Section 6.15 hereof or any other provision of the Loan Documents;

  

	 	f.	each such entity, without the unanimous consent of all of its general partners, directors or members, as applicable, shall not file or consent to the filing of any bankruptcy or
insolvency petition or otherwise institute insolvency proceedings with respect to itself or any other entity in which it has a direct or indirect legal or beneficial ownership interest; 

  

	 	g.	each such entity has no indebtedness (and will have no indebtedness) other than (i) the Loan (to the extent it is liable under the terms of the Loan Documents); and
(ii) unsecured trade debt and/or operating expenses (which shall exclude any real estate taxes or insurance premiums) not to exceed 3% (which 3% cap shall not apply to any real estate taxes or insurance premiums) of the loan amount in the
aggregate with respect to Trustor or $10,000 in the aggregate with respect to each such other entity, which is not evidenced by a note and is incurred in the ordinary course of its business in connection with owning, operating and maintaining the
Property (or its interest in Trustor, as applicable) and is paid within 60 days from the date incurred, or, if later, prior to delinquency; 

  

	 	h.	each such entity has not and will not fail to correct any known misunderstanding regarding the separate identity of such entity; 

  

	 	i.	except for funds deposited into the Restricted Account (as such term is defined in the Cash Management Agreement) pursuant to the Cash Management Agreement, each such entity has
maintained and will maintain its accounts, books and records separate from any other person or entity; 

  

	 	j.	each such entity has maintained and will maintain its books, records, resolutions and agreements as official records; 

  

	 	k.	each such entity (i) has not and will not commingle its funds or assets with those of any other entity; and (ii) has held and will hold its assets in its own name;

  

	 	l.	each such entity has conducted and will conduct its business in its own name; 

  

	 	m.	each such entity has maintained and will maintain its accounting records and other entity documents separate from any other person or entity; 

  

	 	n.	each such entity has prepared and will prepare separate tax returns and financial statements, or if part of a consolidated group, is shown as a separate member of such group;

  

 13 

	 	o.	each such entity has paid and will pay its own liabilities and expenses out of its own funds and assets; 

  

	 	p.	each such entity has held and will hold regular meetings, as appropriate, to conduct its business and has observed and will observe all corporate, partnership or limited liability
company formalities and record keeping, as applicable; 

  

	 	q.	each such entity has not and will not assume or guarantee or become obligated for the debts of any other entity or hold out its credit as being available to satisfy the obligations
of any other entity; 

  

	 	r.	each such entity has not and will not acquire obligations or securities of its partners, members or shareholders; 

  

	 	s.	each such entity has allocated and will allocate fairly and reasonably the costs associated with common employees and any overhead for shared office space and each such entity has
used and will use separate stationery, invoices and checks; 

  

	 	t.	each such entity has not and will not pledge its assets for the benefit of any other person or entity; 

  

	 	u.	each such entity has held and identified itself and will hold itself out and identify itself as a separate and distinct entity under its own name and not as a division or part of
any other person or entity; 

  

	 	v.	each such entity has not made and will not make loans to any person or entity; 

  

	 	w.	each such entity has not and will not identify its partners, members or shareholders, or any affiliates of any of the foregoing, as a division or part of it;

  

	 	x.	each such entity has not entered into and will not enter into or be a party to, any transaction with its partners, members, shareholders, or any affiliates of any of the foregoing,
except in the ordinary course of its business pursuant to written agreements and on terms which are intrinsically fair and are no less favorable to it than would be obtained in a comparable arm’s-length transaction with an unrelated third
party; 

  

	 	y.	each such entity has paid and will pay the salaries of its own employees and has maintained and will maintain a sufficient number of employees in light of its contemplated business
operations; 

  

	 	z.	each such entity has maintained and will maintain adequate capital in light of its contemplated business operations; 

  

	 	aa.	each such entity shall be a single member limited liability company which (i) shall be organized in the State of Delaware and (ii) shall have at least one springing member
which, upon the dissolution of such sole member or the withdrawal or the disassociation of the sole member from such entity, shall immediately become the sole member of such entity; 

  

	 	bb.	each such entity’s limited liability company operating agreement shall contain the provisions set forth in this Section 5.2 and any such entity shall conduct its business
and operations in strict compliance with the terms contained therein; 

  

	 	cc.	each such entity will, as a condition to the closing of the Loan, deliver to Beneficiary a nonconsolidation opinion in form and substance acceptable to Beneficiary;

  

	 	dd.	each such entity has maintained and will continue to maintain at least one Independent Manager (as defined below); and 

  

 14 

	 	ee.	each such entity has not caused or allowed and will not cause or allow the members or managers of such entity to take any action requiring the unanimous affirmative vote of 100% of
the members or managers unless an Independent Manager shall have participated in such vote. 

 As used herein, the term
“Independent Manager” shall mean an individual who, except in his or her capacity as an Independent Manager of the company is not, and has not been during the five (5) years immediately before such individual’s appointment as an
Independent Manager: (i) a stockholder, director, partner, officer or employee of the corporation or its Affiliates( as defined below); (ii) affiliated with a customer or supplier of the corporation or its Affiliates; or (iii) a
spouse, parent, sibling, child or other family relative of any person described by (i) or (ii) above. As used herein, the term “Affiliate” shall mean any person or entity other than the company which (iv) owns beneficially,
directly or indirectly, any outstanding ownership interests of the company, or (v) controls, is controlled by or is under common control with the company. The term “control” shall mean the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of a person or entity, whether through ownership of voting securities or interests, by contract or otherwise. 
 ARTICLE 6. RIGHTS AND DUTIES OF THE PARTIES 
  

	1.18	MAINTENANCE AND PRESERVATION OF THE PROPERTY. Trustor shall: (a) keep the Property in good condition and repair; (b) complete or restore promptly and in
workmanlike manner the Property or any part thereof which may be damaged or destroyed; (c) comply and cause the Property to comply with (i) all laws, ordinances, regulations and standards, (ii) all covenants, conditions, restrictions
and equitable servitudes, whether public or private, of every kind and character and (iii) all requirements of insurance companies and any bureau or agency which establishes standards of insurability, which laws, covenants or requirements
affect the Property and pertain to acts committed or conditions existing thereon, including, without limitation, any work of alteration, improvement or demolition as such laws, covenants or requirements mandate; (d) operate and manage the
Property at all times in a professional manner and do all other acts which from the character or use of the Property may be reasonably necessary to maintain and preserve its value; (e) promptly after execution, deliver to Beneficiary a copy of
any management agreement concerning the Property and all amendments thereto and waivers thereof; and (f) execute and acknowledge all further documents, instruments and other papers as Beneficiary or Trustee deems necessary or appropriate to
preserve, continue, perfect and enjoy the benefits of this Deed of Trust and perform Trustor’s obligations, including, without limitation, statements of the amount secured hereby then owing and statements of no offset. Trustor shall not:
(g) remove or demolish all or any material part of the Property; (h) alter either (i) the exterior of the Property in a manner which materially and adversely affects the value of the Property or (ii) the roof or other structural
elements of the Property in a manner which requires a building permit except for tenant improvements required under the Leases; (i) initiate or acquiesce in any change in any zoning or other land classification which affects the Property; or
(j) commit or permit waste of the Property. 

  

	1.19	HAZARDOUS MATERIALS. Without limiting any other provision of this Deed of Trust, Trustor agrees as follows: 

  

	 	a.	Prohibited Activities. Trustor shall not cause or permit the Property to be used as a site for the use, generation, manufacture, storage, treatment, release,
discharge, disposal, transportation or presence of any of the following (collectively, “Hazardous Materials”): oil or other petroleum products; flammable explosives; asbestos; urea formaldehyde insulation; radioactive materials; hazardous
wastes; fungus, mold, mildew, pores or other biological or microbial agents the presence of which may affect human health, impair occupancy or materially affect the value or utility of the Property; toxic or contaminated substances or similar
materials, including, without limitation, any substances which are “hazardous substances,” “hazardous wastes,” “hazardous materials” or “toxic substances” under the Hazardous Materials Laws (defined below)
and/or other applicable environmental laws, ordinances or regulations. 

  

 15 

 The foregoing to the contrary notwithstanding, (i) Trustor may store, maintain and use on the
Property janitorial and maintenance supplies, paint and other Hazardous Materials of a type and in a quantity readily available for purchase by the general public and normally stored, maintained and used by owners and managers of properties of a
type similar to the Property; and (ii) tenants of the Property may store, maintain and use on the Property (and, if any tenant is a retail business, hold in inventory and sell in the ordinary course of such tenant’s business) Hazardous
Materials of a type and quantity readily available for purchase by the general public and normally stored, maintained and used (and, if tenant is a retail business, sold) by tenants in similar lines of business on properties similar to the Property.

  

	 	b.	Hazardous Materials Laws. Trustor shall comply and cause the Property to comply with the Ground Lease, and all federal, state and local laws, ordinances and
regulations relating to Hazardous Materials (“Hazardous Materials Laws”), including, without limitation: the Clean Air Act, as amended, 42 U.S.C. Section 7401 et seq.; the Federal Water Pollution Control Act, as amended, 33
U.S.C. Section 1251 et seq.; the Resource Conservation and Recovery Act of 1976, as amended, 42 U.S.C. Section 6901 et seq.; the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended
(including the Superfund Amendments and Reauthorization Act of 1986, “CERCLA”), 42 U.S.C. Section 9601 et seq.; the Toxic Substances Control Act, as amended, 15 U.S.C. Section 2601 et seq.; the Occupational Safety
and Health Act, as amended, 29 U.S.C. Section 651; the Emergency Planning and Community Right-to-Know Act of 1986, 42 U.S.C. Section 11001 et seq.; the Mine Safety and Health Act of 1977, as amended, 30 U.S.C. Section 801 et
seq.; the Safe Drinking Water Act, 42 U.S.C. Section 300f et seq.; and all comparable state and local laws, laws of other jurisdictions or orders and regulations. 

  

	 	c.	Notices. Trustor shall immediately notify Beneficiary in writing of: (i) the discovery of any Hazardous Materials on, under or about the Property (other than
Hazardous Materials permitted under Section 1.19(a)); (ii) any knowledge by Trustor that the Property does not comply with any Hazardous Materials Laws; (iii) any claims or actions (“Hazardous Materials Claims”) pending or
threatened against Trustor or the Property by any governmental entity or agency or any other person or entity relating to Hazardous Materials or pursuant to the Hazardous Materials Laws; and (iv) the discovery of any occurrence or condition on
any real property adjoining or in the vicinity of the Property that could cause the Property or any part thereof to become contaminated with Hazardous Materials. 

  

	 	d.	Remedial Action. In response to the presence of any Hazardous Materials on, under or about the Property, Trustor shall immediately take, at Trustor’s sole
expense, all remedial action required by any Hazardous Materials Laws or any judgment, consent decree, settlement or compromise in respect to any Hazardous Materials Claims. 

  

	 	e.	Inspection By Beneficiary. Upon reasonable prior notice to Trustor, Beneficiary, its employees and agents, may from time to time (whether before or after the
commencement of a nonjudicial or judicial foreclosure proceeding), enter and inspect the Property for the purpose of determining the existence, location, nature and magnitude of any past or present release or threatened release of any Hazardous
Materials into, onto, beneath or from the Property. 

  

	 	f.	Legal Effect of Section. Trustor and Beneficiary agree that: (i) this Hazardous Materials Section is intended as Beneficiary’s written request for
information (and Trustor’s response) concerning the environmental condition of the real property security as required by California Code of Civil Procedure Section 726.5; and (ii) each representation and warranty and covenant in this
Section (together with any indemnity applicable to a breach of any such representation and warranty) with respect to the environmental condition of the Property is intended by Beneficiary and Trustor to be an “environmental provision” for
purposes of California Code of Civil Procedure Section 736. 

  

 16 

	1.20	COMPLIANCE WITH LAWS. Trustor shall comply with all federal, state and local laws, rules and regulations applicable to the Property, including, without limitation, all
zoning and building requirements and all requirements of the Americans With Disabilities Act of 1990 (42 U.S.C. Section 12101 et seq.), as amended from time to time. Trustor shall possess and maintain or cause Borrower to possess and maintain
in full force and effect at all times (a) all certificates of occupancy and other licenses, permits and authorizations required by applicable law for the existing use of the Property and (b) all permits, franchises and licenses and all
rights to all trademarks, trade names, patents and fictitious names, if any, required by applicable law for Trustor and Borrower to conduct the business(es) in which Trustor and Borrower are now engaged. 

  

	1.21	LITIGATION. Trustor shall promptly notify Beneficiary in writing of any litigation pending or threatened against Trustor or Borrower claiming damages in excess of
$50,000 and of all pending or threatened litigation against Trustor or Borrower if the aggregate damage claims against Trustor or Borrower exceed $100,000. 

  

	1.22	MERGER, CONSOLIDATION, TRANSFER OF ASSETS. Trustor shall not: (a) merge or consolidate with any other entity or permit Borrower to merge or consolidate with any
other entity; (b) make any substantial change in the nature of Trustor’s business or structure or permit Borrower to make any substantial change in the nature of Borrower’s business or structure (except as expressly provided herein);
(c) acquire all or substantially all of the assets of any other entity or permit Borrower to acquire all or substantially all of the assets of any other entity (other than Borrower’s acquisition of the Property); or (d) sell, lease,
assign, transfer or otherwise dispose of a material part of Trustor’s assets except in the ordinary course of Trustor’s business or permit Borrower to sell, lease, assign, transfer or otherwise dispose of a material part of Borrower’s
assets except in the ordinary course of Borrower’s business. 

  

	1.23	ACCOUNTING RECORDS. Trustor shall maintain and cause Borrower to maintain adequate books and records in accordance with the same accounting standard used by Trustor or
Borrower to prepare the financial statements delivered to and approved by Beneficiary in connection with the making of the Loan or other accounting standards approved by Beneficiary. Trustor shall permit and shall cause Borrower to permit any
representative of Beneficiary, at any reasonable time and from time to time, at Beneficiary’s sole cost and expense, to inspect, audit and examine such books and records and make copies of same; provided, however, that Beneficiary shall not be
obligated to pay for any expenses incurred by Borrower in connection with such inspection, audit or examination. 

  

	1.24	COSTS, EXPENSES AND ATTORNEYS’ FEES. Trustor shall pay to Beneficiary the full amount of all costs and expenses, including, without limitation, reasonable
attorneys’ fees and expenses of Beneficiary’s in-house or outside counsel, incurred by Beneficiary in connection with: (a) appraisals and inspections of the Property or Collateral required by Beneficiary as a result of (i) a
Transfer or proposed Transfer (as defined below), or (ii) a Default; (b) appraisals and inspections of the Property or Collateral required by applicable law, including, without limitation, federal or state regulatory reporting
requirements; and (c) any acts performed by Beneficiary at Trustor’s request or wholly or partially for the benefit of Trustor (including, without limitation, the preparation or review of amendments, assumptions, waivers, releases,
reconveyances, estoppel certificates or statements of amounts owing under any Secured Obligation). In connection with appraisals and inspections, Trustor specifically (but not by way of limitation) acknowledges that: (aa) a formal written appraisal
of the Property by a state certified or licensed appraiser may be required by federal regulatory reporting requirements on an annual or more frequent basis; and (bb) Beneficiary may require inspection of the Property by an independent
supervising architect, a cost engineering specialist, or both. Trustor shall pay all indebtedness arising under this Section immediately upon demand by Beneficiary together with interest thereon following notice of such indebtedness at the rate of
interest then applicable to the principal balance of the Note as specified therein. 

  

	1.25	 LIENS, ENCUMBRANCES AND CHARGES. Trustor shall immediately discharge by bonding or otherwise any lien, charge or other encumbrance which attaches to
the Property in violation of Section 1.32. Subject to 

  

 17 

	 	 
Trustor’s right to contest such matters under this Deed of Trust or as expressly permitted in the Loan Documents, Trustor shall pay when due all
obligations secured by or reducible to liens and encumbrances which shall now or hereafter encumber or appear to encumber all or any part of the Property or any interest therein, whether senior or subordinate hereto, including, without limitation,
all claims for work or labor performed, or materials or supplies furnished, in connection with any work of demolition, alteration, repair, improvement or construction of or upon the Property, except such as Trustor may in good faith contest or as to
which a bona fide dispute may arise (provided provision is made to the satisfaction of Beneficiary for eventual payment thereof in the event that Trustor is obligated to make such payment and that any recorded claim of lien, charge or other
encumbrance against the Property is immediately discharged by bonding or otherwise). 

  

	1.26	TAXES AND OTHER LIABILITIES. Trustor shall pay and discharge prior to delinquency any and all indebtedness, obligations, assessments and taxes, both real and personal
and including federal and state income taxes and state and local property taxes and assessments. Trustor shall promptly provide to Beneficiary copies of all tax and assessment notices pertaining to the Property. Trustor hereby authorizes Beneficiary
to obtain, at Trustor’s expense, a tax service contract which shall provide tax information on the Property to Beneficiary for the term of the Loan and any extensions or renewals of the Loan. 

  

	1.27	INSURANCE COVERAGE. Trustor shall obtain and maintain all insurance coverage required pursuant to that certain Agreement Regarding Required Insurance dated as of the
date hereof by and between Trustor and Beneficiary. 

  

	1.28	CONDEMNATION AND INSURANCE PROCEEDS. 

  

	 	a.	Assignment of Claims. Trustor absolutely and irrevocably assigns to Beneficiary all of the following rights, claims and amounts (collectively, “Claims”), all
of which shall be paid to Beneficiary: (i) all awards of damages and all other compensation payable directly or indirectly by reason of a condemnation or proposed condemnation for public or private use affecting all or any part of, or any
interest in, the Property; (ii) all other claims and awards for damages to or decrease in value of all or any part of, or any interest in, the Property; (iii) all proceeds of any insurance policies payable by reason of loss sustained to
all or any part of the Property; and (iv) all interest which may accrue on any of the foregoing. Trustor shall give Beneficiary prompt written notice of the occurrence of any casualty affecting, or the institution of any proceedings for eminent
domain or for the condemnation of, the Property or any portion thereof. So long as no Default has occurred and is continuing at the time, (i) Trustor shall have the right to adjust, compromise and settle any Claim or group of related Claims of
$100,000 or less without the participation or consent of Beneficiary and (ii) Beneficiary shall have the right to participate in and consent to any adjustment, compromise or settlement of any Claim or group of related Claims exceeding $100,000.
If a Default has occurred and is continuing at the time, Trustor hereby irrevocably empowers Beneficiary, in the name of Trustor, as Trustor’s true and lawful attorney in fact, to commence, appear in, defend, prosecute, adjust, compromise and
settle all Claims; provided, however, Beneficiary shall not be responsible for any failure to undertake any or all of such actions regardless of the cause of the failure. All awards, proceeds and other sums described herein shall, in all cases, be
payable to Beneficiary. 

  

	 	b.	Application of Proceeds; No Default. So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of the proceeds of the Claims
(“Proceeds”) and no Default occurs thereafter, the following provisions shall apply: 

  

	 	(i)	Condemnation. If the Proceeds are the result of Claims described in clauses 6.11.a (i) or (ii) above, or interest accrued thereon, Beneficiary shall apply the
Proceeds in the following order of priority: First, to Beneficiary’s expenses in settling, prosecuting or defending the Claims; Second, to the repair or restoration of the portion of the Property, if any, not condemned or proposed for
condemnation and not otherwise the subject of a claim or award; and Third, to the Secured Obligations in any order without suspending, extending or reducing any obligation of Trustor to make installment payments. 

  

 18 

	 	(ii)	Insurance. If the Proceeds are the result of Claims described in clause 6.11.a (iii) above or interest accrued thereon, Beneficiary shall apply the Proceeds in the
following order of priority: First, to Beneficiary’s expenses in settling, prosecuting or defending the Claims; Second, to the repair or restoration of the Property; and Third, (aa) if the repair or restoration of the Property has been
completed and all costs incurred in connection with the repair or restoration have been paid in full, to Trustor or (bb) in all other circumstances, to the Secured Obligations in any order without suspending, extending or reducing any
obligation of Trustor to make installment payments. 

  

	 	(iii)	Restoration. Notwithstanding the foregoing Sections 6.11.b (i) and (ii), Beneficiary shall have no obligation to make any Proceeds available for the repair or
restoration of all or any portion of the Property unless and until all the following conditions have been satisfied: (aa) delivery to Beneficiary of the Proceeds plus any additional amount which is needed to pay all costs of the repair or
restoration (including, without limitation, taxes, financing charges, insurance and rent during the repair period); (bb) establishment of an arrangement for lien releases and disbursement of funds acceptable to Beneficiary; (cc) delivery to
Beneficiary in form and content acceptable to Beneficiary of all of the following: (1) plans and specifications for the work; (2) a contract for the work, signed by a contractor acceptable to Beneficiary; (3) a cost breakdown for the
work; (4) if required by Beneficiary, a payment and performance bond for the work; (5) evidence of the continuation of all Leases unless consented to in writing by Beneficiary; (6) evidence that, upon completion of the work, the size,
capacity, value, and income coverage ratios for the Property will be at least as great as those which existed immediately before the damage or condemnation occurred; (7) evidence that the work can reasonably be completed on or before that date
which is 6 months prior to the Maturity Date; and (8) evidence of the satisfaction of any additional conditions that Beneficiary may reasonably establish to protect Beneficiary’s security. Trustor acknowledges that the specific conditions
described above are reasonable. 

  

	 	c.	Application of Proceeds; Default. If a Default has occurred and is continuing at the time of Beneficiary’s receipt of the Proceeds or if a Default occurs at any
time thereafter, Beneficiary may, at Beneficiary’s absolute discretion and regardless of any impairment of security or lack of impairment of security, but subject to applicable law governing use of the Proceeds, if any, apply all or any of the
Proceeds to Beneficiary’s expenses in settling, prosecuting or defending the Claims and then apply the balance to the Secured Obligations in any order without suspending, extending or reducing any obligation of Trustor to make installment
payments, and may release all or any part of the Proceeds to Trustor upon any conditions Beneficiary chooses. The foregoing provisions of this Section 6.11 shall be subject to Borrower’s right to Permitted REIT Distributions (as
defined in the Note). 

  

	1.29	IMPOUNDS. 

  

	 	a.	Post-Default Impounds. If required by Beneficiary at any time while a Default exists, Trustor shall deposit with Beneficiary such amounts (“Post-Default
Impounds”) on such dates (determined by Beneficiary as provided below) as will be sufficient to pay any or all “Costs” (as defined below) specified by Beneficiary to the extent, and only to the extent, required by the terms and
conditions of the Loan Documents, and further subject to Trustor’s right to receive Permitted REIT Distributions. Beneficiary in its reasonable discretion shall estimate the amount of such Costs that will be payable or required during any
period selected by Beneficiary not exceeding 1 year and shall determine the fractional portion thereof that Trustor shall deposit with Beneficiary on each date specified by Beneficiary during such period. If the Post-Default Impounds paid by Trustor
are not sufficient to pay the related Costs, Trustor shall deposit with Beneficiary upon demand an amount equal to the deficiency. All Post-Default Impounds shall be payable by Trustor in addition to (but without duplication of) any other Impounds
(as defined below). 

  

 19 

	 	b.	All Impounds. Post-Default Impounds and any other impounds that may be payable by Borrower under the Note are collectively called “Impounds”. All Impounds
shall be deposited into one or more segregated or commingled accounts maintained by Beneficiary or its servicing agent. Except as otherwise provided in the Note, such account(s) shall not bear interest. Beneficiary shall not be a trustee, special
depository or other fiduciary for Trustor with respect to such account, and the existence of such account shall not limit Beneficiary’s rights under this Deed of Trust, any other agreement or any provision of law. If a Default exists, subject
to Trustor’s right to receive Permitted REIT Distributions, Beneficiary may apply any or all Impounds to any Secured Obligation and/or to cure such Default, whereupon Trustor shall restore all Impounds so applied and cure all Defaults not cured
by such application. The obligations of Trustor hereunder shall not be diminished by deposits of Impounds made by Trustor, except to the extent that such obligations have actually been met by application of such Impounds. Upon any assignment of this
Deed of Trust, Beneficiary may assign all Impounds in its possession to Beneficiary’s assignee, whereupon Beneficiary and Trustee shall be released from all liability with respect to such Impounds. Within 60 days following full repayment
of the Secured Obligations (other than as a consequence of foreclosure or conveyance in lieu of foreclosure) or at such earlier time as Beneficiary may elect, Beneficiary shall pay to Trustor all Impounds in its possession, and no other party shall
have any right or claim thereto. “Costs” means (i) all taxes and other liabilities payable by Trustor under Section 1.26, (ii) all insurance premiums payable by Trustor under Section 1.27, and/or (iii) all other
costs and expenses for which Impounds are required under the Note. Trustor shall deliver to Beneficiary, promptly upon receipt, all bills for Costs for which Beneficiary has required Post-Default Impounds. 

  

	1.30	DEFENSE AND NOTICE OF LOSSES, CLAIMS AND ACTIONS. Trustor shall protect, preserve and defend the Property and title to and right of possession of the Property, the
security of this Deed of Trust and the rights and powers of Beneficiary and Trustee hereunder at Trustor’s sole expense against all adverse claims, whether the claim: (a) is against a possessory or non-possessory interest; (b) arose
prior or subsequent to the Effective Date; or (c) is senior or junior to Trustor’s or Beneficiary’s rights. Trustor shall give Beneficiary and Trustee prompt notice in writing of the assertion of any claim, of the filing of any action
or proceeding, of the occurrence of any damage to the Property and of any condemnation offer or action. 

  

	1.31	RIGHT OF INSPECTION. Beneficiary and its independent contractors, agents and employees may enter the Property from time to time at any reasonable time for the purpose
of inspecting the Property and ascertaining Trustor’s compliance with the terms of this Deed of Trust. Beneficiary shall use reasonable efforts to assure that Beneficiary’s entry upon and inspection of the Property shall not materially and
unreasonably interfere with the business or operations of Trustor or Trustor’s tenants on the Property. 

  

	1.32	DUE ON SALE/ENCUMBRANCE. 

  

	 	a.	Definitions. The following terms shall have the meanings indicated: 

 “Restricted Party” shall mean each of (i) Borrower, (ii) Trustor, (iii) KBS REIT ACQUISITION IX, LLC (“Mezzanine Borrower”), and (iv) any entity obligated under any
guaranty or indemnity made in favor of Beneficiary in connection with the Loan. 
 “Transfer” shall mean any sale,
installment sale, exchange, mortgage, pledge, hypothecation, assignment, encumbrance or other transfer, conveyance or disposition, whether voluntarily, involuntarily or by operation of law or otherwise. 
  

 20 

	 	b.	Property Transfers. 

  

	 	(i)	Prohibited Property Transfers. Trustor shall not cause or permit any Transfer of all or any part of or any direct or indirect legal or beneficial interest in the Property or
the Collateral (collectively, a “Prohibited Property Transfer”), including, without limitation, (A) a Lease or all or a material part of the Property for any purpose other than actual occupancy by a space tenant; and (B) the
Transfer of all or any part of Trustor’s right, title and interest in and to any Leases or Payments. 

  

	 	(ii)	Permitted Property Transfers. Notwithstanding the foregoing, none of the following Transfers shall be deemed to be a Prohibited Property Transfer and are expressly permitted:
(A) a Transfer which is expressly permitted under the Note or under this Deed of Trust; (B) a Lease which is permitted under Article 3; and (C) the sale of inventory in the ordinary course of business. 

 

	 	c.	Equity Transfers. 

  

	 	(i)	Prohibited Equity Transfers. Trustor shall not cause or permit any Transfer of any direct legal or beneficial interest in a Restricted Party (collectively, a “Prohibited
Equity Transfer”), including without limitation, (A) if a Restricted Party is a corporation, any merger, consolidation or other Transfer of such corporation’s stock or the creation or issuance of new stock in one or a series of
transactions; (B) if a Restricted Party is a limited partnership, limited liability partnership, general partnership or joint venture, any merger or consolidation or the change, removal, resignation or addition of a general partner or the
Transfer of the partnership interest of any general or limited partner or any profits or proceeds relating to such partnership interests or the creation or issuance of new limited partnership interests; (C) if a Restricted Party is a limited
liability company, any merger or consolidation or the change, removal, resignation or addition of a managing member or non-member manager (or if no managing member, any member) or any profits or proceeds relating to such membership interest, or the
Transfer of a non-managing membership interest or the creation or issuance of new non-managing membership interests; or (D) if a Restricted Party is a trust, any merger, consolidation or other Transfer of any legal or beneficial interest in
such Restricted Party or the creation or issuance of new legal or beneficial interests. 

  

	 	(ii)	Permitted Equity Transfers. Notwithstanding the foregoing, none of the following Transfers shall be deemed to be a Prohibited Equity Transfer and shall be expressly
permitted: (A) a Transfer of the direct or indirect ownership interests of KBS Limited Partnership and KBS Real Estate Investment Trust, Inc., so long as: (i) KBS Capital Advisors LLC, (ii) an entity owned by Peter Bren and/or Charles
Schrieber, Jr., or (iii) an entity reasonably acceptable to Lender using commercial standards customarily applied by prudent institutional mortgage lenders for similar loans (each an “Approved Asset Manager”) remains the sole Approved
Asset Manager of KBS Real Estate Investment Trust, Inc.; (B) a Transfer by devise or descent or by operation of law upon the death of a member, partner or shareholder of a Restricted Party; (C) a Transfer, in one or a series of
transactions, of not more than 49% of the stock, limited partnership interests or non-managing membership interests (as the case may be) in a Restricted Party where such Transfer does not result in a change in management control in the Restricted
Party, or (D) a Transfer which is expressly permitted under the Note. 

  

	 	(iii)	 SPE Status. Nothing contained in this Section 6.15c shall be construed to permit any Transfer which would result in a breach of any
representation, warranty or covenant of Trustor under Section 5.2 above. Notwithstanding anything to the contrary contained in this Section 6.15c, if a nonconsolidation opinion was required as a condition to closing of the Loan,
(A) Trustor shall deliver to Beneficiary at least 60 days’ prior written notice of any Transfer under Section 6.15c(ii)(A) or (C) above, (B) if required by Beneficiary, it shall be a condition precedent to any Transfer under

  

 21 

	 	 
Section 6.15c(ii)(A) or (C) above that Trustor deliver to Beneficiary a current nonconsolidation opinion in form and content and rendered by
counsel satisfactory to Beneficiary in its sole and absolute discretion and (C) such a current nonconsolidation opinion shall be delivered to Beneficiary, not more than 60 days’ following any Transfer under Section 6.15c(ii)(B) above.

  

	 	d.	Certificates of Ownership. Trustor shall deliver to Beneficiary, at any time and from time to time, not more than 5 days after Beneficiary’s written request
therefore, a certificate, in form acceptable to Beneficiary, signed and dated by Borrower and Trustor, listing the names of all persons and entities holding direct interests in the Property or any Restricted Party and the type and amount of each
such interest. 

  

	1.33	ACCEPTANCE OF TRUST; POWERS AND DUTIES OF TRUSTEE. Trustee accepts this trust when this Deed of Trust is recorded. From time to time upon written request of
Beneficiary and presentation of this Deed of Trust, or a certified copy thereof, for endorsement, and without affecting the personal liability of any person for payment of any indebtedness or performance of any Secured Obligation, Trustee may,
without liability therefor and without notice: (a) reconvey all or any part of the Property; (b) consent to the making of any map or plat of the Property; (c) join in granting any easement on the Property; (d) join in any
declaration of covenants and restrictions; or (e) join in any extension agreement or any agreement subordinating the lien or charge of this Deed of Trust. Nothing contained in the immediately preceding sentence shall be construed to limit,
impair or otherwise affect the rights of Trustor in any respect. Except as may otherwise be required by applicable law, Trustee or Beneficiary may from time to time apply to any court of competent jurisdiction for aid and direction in the execution
of the trusts hereunder and the enforcement of the rights and remedies available hereunder, and Trustee or Beneficiary may obtain orders or decrees directing or confirming or approving acts in the execution of said trusts and the enforcement of said
remedies. Trustee has no obligation to notify any party of any pending sale or any action or proceeding (including, without limitation, actions in which Trustor, Beneficiary or Trustee shall be a party) unless held or commenced and maintained by
Trustee under this Deed of Trust. Trustee shall not be obligated to perform any act required of it hereunder unless the performance of the act is requested in writing and Trustee is reasonably indemnified and held harmless against loss, cost,
liability and expense. 

  

	1.34	COMPENSATION OF TRUSTEE. Trustor shall pay to Trustee reasonable compensation and reimbursement for services and expenses in the administration of this trust,
including, without limitation, reasonable attorneys’ fees. Trustor shall pay all indebtedness arising under this Section immediately upon demand by Trustee or Beneficiary together with interest thereon from the date the indebtedness arises at
the rate of interest then applicable to the principal balance of the Note as specified therein. 

  

	1.35	EXCULPATION. Beneficiary shall not directly or indirectly be liable to Trustor or any other person as a consequence of: (a) the exercise of the rights, remedies
or powers granted to Beneficiary in this Deed of Trust; (b) the failure or refusal of Beneficiary to perform or discharge any obligation or liability of Trustor under any agreement related to the Property or under this Deed of Trust; or
(c) any loss sustained by Trustor or any third party resulting from Beneficiary’s failure to lease the Property after a Default (hereafter defined) or from any other act or omission of Beneficiary in managing the Property after a Default
unless the loss is caused by the willful misconduct and bad faith of Beneficiary and no such liability shall be asserted or enforced against Beneficiary, all such liability being expressly waived and released by Trustor. 

  

	1.36	 INDEMNITY. Without in any way limiting any other indemnity contained in this Deed of Trust, Trustor agrees to defend, indemnify and hold harmless
Trustee and the Beneficiary Group from and against any claim, loss, damage, cost, expense or liability directly or indirectly arising out of: (a) the making of the Loan, except for violations of banking laws or regulations by the Beneficiary
Group; (b) this Deed of Trust; (c) the execution of this trust or the performance of any act required or permitted hereunder or by law; (d) any failure of Trustor to perform Trustor’s obligations under this Deed of Trust or the
other Loan Documents; (e) any alleged 

  

 22 

	 	 
obligation or undertaking on the Beneficiary Group’s part to perform or discharge any of the representations, warranties, conditions, covenants or other
obligations contained in any other document related to the Property; (f) any act or omission by Trustor or any contractor, agent, employee or representative of Trustor with respect to the Property; or (g) any claim, loss, damage, cost,
expense or liability directly or indirectly arising out of: (i) the use, generation, manufacture, storage, treatment, release, threatened release, discharge, disposal, transportation or presence of any Hazardous Materials which are found in,
on, under or about the Property (including, without limitation, underground contamination); or (ii) the breach of any covenant, representation or warranty of Trustor under Sections 5.1.p, 5.1.q, 5.1.r, or 1.19 above.
The foregoing to the contrary notwithstanding, this indemnity shall not include any claim, loss, damage, cost, expense or liability directly or indirectly arising out of the gross negligence or willful misconduct of any member of the Beneficiary
Group or Trustee, or any claim, loss, damage, cost, expense or liability incurred by the Beneficiary Group or Trustee arising from any act or incident on the Property occurring after the full reconveyance and release of the lien of this Deed of
Trust on the Property, or with respect to the matters set forth in clause (g) above, any claim, loss, damage, cost, expense or liability incurred by the Beneficiary Group resulting from the introduction and initial release of Hazardous
Materials on the Property occurring after the transfer of title to the Property at a foreclosure sale under this Deed of Trust, either pursuant to judicial decree or the power of sale, or by deed in lieu of such foreclosure. This indemnity shall
include, without limitation: (aa) all consequential damages (including, without limitation, any third party tort claims or governmental claims, fines or penalties against Trustee or the Beneficiary Group); (bb) all court costs and reasonable
attorneys’ fees (including, without limitation, expert witness fees) paid or incurred by Trustee or the Beneficiary Group; and (cc) the costs, whether foreseeable or unforeseeable, of any investigation, repair, cleanup or detoxification of the
Property which is required by any governmental entity or is otherwise necessary to render the Property in compliance with all laws and regulations pertaining to Hazardous Materials. “Beneficiary Group”, as used herein, shall mean
(1) Beneficiary and Lender (including, without limitation, any participant in the Loan), (2) any entity controlling, controlled by or under common control with Beneficiary and Lender, (3) the directors, officers, employees and agents
of Beneficiary and Lender and such other entities, and (4) the successors, heirs and assigns of the entities and persons described in foregoing clauses (1) through (3), other than a purchaser of the Loan through foreclosure. Trustor
shall pay immediately upon Trustee’s or Beneficiary’s demand any amounts owing under this indemnity together with interest from the date the indebtedness arises until paid at the rate of interest applicable to the principal balance of the
Note as specified therein. Trustor agrees to use legal counsel reasonably acceptable to Trustee and the Beneficiary Group in any action or proceeding arising under this indemnity. THE PROVISIONS OF THIS SECTION SHALL SURVIVE THE TERMINATION AND
RECONVEYANCE OF THIS DEED OF TRUST, BUT TRUSTOR’S LIABILITY UNDER THIS INDEMNITY SHALL BE SUBJECT TO THE PROVISIONS OF THE SECTION IN THE NOTE ENTITLED “BORROWER’S LIABILITY.” 

  

	1.37	SUBSTITUTION OF TRUSTEE. From time to time, by a writing signed and acknowledged by Beneficiary and recorded in the Office of the Register of Deeds of the County in
which the Property is situated, Beneficiary may appoint another trustee to act in the place and stead of Trustee or any successor. Such writing shall set forth any information required by law. The recordation of such instrument of substitution shall
discharge Trustee herein named and shall appoint the new trustee as the trustee hereunder with the same effect as if originally named trustee herein. A writing recorded pursuant to the provisions of this Section shall be conclusive proof of the
proper substitution of such new trustee. 

  

	1.38	RELEASES, EXTENSIONS, MODIFICATIONS AND ADDITIONAL SECURITY. Without notice to or the consent, approval or agreement of any persons or entities having any interest at
any time in the Property or in any manner obligated under the Secured Obligations (“Interested Parties”), Beneficiary may, from time to time: (a) fully or partially release any person or entity from liability for the payment or
performance of any Secured Obligation; (b) extend the maturity of any Secured Obligation; (c) make any agreement with Borrower increasing the amount or otherwise altering the terms of any Secured Obligation; (d) accept additional
security for any Secured Obligation; or (e) release all or any portion of the Property, Collateral and other security for any Secured Obligation. None of the foregoing actions shall release or reduce the personal liability of any of said
Interested Parties, or release or impair the priority of the lien of this Deed of Trust upon the Property. 

  

 23 

	1.39	SALE OR PARTICIPATION OF LOAN. Beneficiary may at any time sell, assign, participate or securitize all or any portion of Beneficiary’s rights and obligations
under the Loan Documents, and that any such sale, assignment, participation or securitization may be to one or more financial institutions or other entities, to private investors, or into the public securities market, in Beneficiary’s sole
discretion. Trustor further agrees that Beneficiary may disseminate to any such actual or potential purchaser(s), assignee(s) or participant(s) (and to any investment banking firms, rating agencies, accounting firms, law firms and other third party
advisory firms and investors involved with the Loan and the Loan Documents or the applicable sale, assignment, participation or securitization) all documents and financial and other information heretofore or hereafter provided to or known to
Beneficiary with respect to: (a) the Property and its operation; (b) any party connected with the Loan (including, without limitation, Trustor, any partner or member of Trustor, any constituent partner or member of Trustor, any guarantor
and any nonborrower trustor). In the event of any such sale, assignment, participation or securitization, Beneficiary and the other parties to the same shall share in the rights and obligations of Beneficiary set forth in the Loan Documents as and
to the extent they shall agree among themselves. In connection with any such sale, assignment, participation or securitization, Trustor further agrees that the Loan Documents shall be sufficient evidence of the obligations of Trustor to each
purchaser, assignee or participant, and Trustor shall, within 15 days after request by Beneficiary; (c) deliver to Beneficiary such information and documents relating to Trustor, the Property and its operation and any party connected with
the Loan as Beneficiary or any rating agency may request; (d) deliver to Beneficiary an estoppel certificate for the benefit of Beneficiary and any other party designated by Beneficiary verifying the status and terms of the Loan, in form and
content satisfactory to Beneficiary; (e) enter into such amendments to the Loan Documents as may be requested in order to facilitate any such sale, assignment, participation or securitization without impairing Trustor’s rights or
increasing Trustor’s obligations or liabilities, or causing Trustor to incur any material expense; (f) if, as a condition to the closing of the Loan, Trustor was required to be a special-purpose bankruptcy-remote entity, enter into such
amendments to the organizational documents of Trustor as any rating agency may request to preserve or enhance Trustor’s special-purpose bankruptcy-remote status; and (g) if as a condition to the closing of the Loan, Trustor was required to
provide Beneficiary with any nonconsolidation opinions, provide Beneficiary with such amendments and restatements of such opinions as any rating agency may request at Beneficiary’s expense. The indemnity obligations of Trustor under the Loan
Documents shall also apply with respect to any purchaser, assignee or participant. 

  

	1.40	RELEASE OR CANCELLATION. Upon Beneficiary’s written request, and upon surrender of this Deed of Trust or certified copy thereof and any note, instrument or
instruments setting forth all obligations secured hereby to Trustee for release or cancellation, Trustee shall cancel this Deed of Trust, or release all or such portion of the Property from the lien of this Deed of Trust as Beneficiary may direct.
When the Deed of Trust has been fully cancelled, the assignment of rents, issues and profits of the Property herein set forth shall automatically terminate. 

  

	1.41	SUBROGATION. Beneficiary shall be subrogated to the lien of all encumbrances, whether released of record or not, paid in whole or in part by Beneficiary pursuant to
this Deed of Trust or by the proceeds of any loan secured by this Deed of Trust. 

  

	1.42	GROUND LEASE. With respect to the Ground Lease, Trustor agrees: 

 a. To perform all obligations of the tenant under the Ground Lease and any statute, ordinance, rule or regulation relating thereto, and not to cause or permit any breach thereof. If Trustor shall default under the
Ground Lease, or if Beneficiary shall receive notice of any default under the Ground Lease, Beneficiary may, at its option but without any obligation to do so, take any action necessary or desirable to cure any such default, Beneficiary being
authorized to enter upon the Land for such purposes with or without notice and without becoming a mortgagee in possession. Trustor shall, immediately on demand, pay to Beneficiary all costs of Beneficiary incurred in curing any such default,
together with interest on such costs from the date of expenditure until said sums have been paid, at the rate of interest applicable to the principal balance of the Note as specified therein. 
  

 24 

 b. To give prompt notice to Beneficiary of any default by any party under the Ground Lease (which shall
include, but not be limited to, copies of any default notices sent to Landlord or received by Trustor), to give prompt notice to Beneficiary of any litigation or arbitration with respect to the Ground Lease, and to furnish to Beneficiary all
information that it may reasonably request concerning the performance by Trustor of Trustor’s obligations under the Ground Lease. 
 c.
That the provisions hereof shall be deemed to be obligations of Trustor in addition to Trustor’s obligations as tenant with respect to similar matters contained in the Ground Lease; provided, however, the inclusion herein of any obligations
relating to similar matters as to which Trustor is obligated under the Ground Lease shall not restrict or limit Trustor’s obligations to perform promptly all of its obligations as tenant under the Ground Lease, and nothing in this Deed of Trust
shall be construed as requiring Trustor or Beneficiary to take or omit to take any action which would cause a default under the Ground Lease. 
 d. That so long as this Deed of Trust is in effect, there shall be no merger of the Ground Lease, nor of the leasehold estate or other estate created thereby, with the fee estate in the Land by reason of the fact that the Ground Lease, or
the leasehold estate or other estate created thereby, may be held directly or indirectly by or for the account of any person or entity who or which also holds the fee estate in the Land. If Trustor acquires the fee title or any other estate, title
or interest in the Land, this Deed of Trust shall attach to and be a lien upon the fee title or such other estate so acquired, and such fee title or other estate shall, without further assignment, mortgage or conveyance, become and remain subject to
the lien of and covered by this Deed of Trust. Trustor shall notify Beneficiary of any such acquisition by Trustor and, on written request by Beneficiary, shall cause to be executed and recorded all such documents and instruments as may in the
reasonable opinion of Beneficiary be required to carry out the intent and meaning hereof. 
 e. That, so long as this Deed of Trust is in
effect, no termination (other than a termination in accordance with the terms of the Ground Lease) or surrender by Trustor as tenant under the Ground Lease to Landlord thereunder, shall be valid or effective. The terms of the Ground Lease may not be
modified or terminated (other than a termination in accordance with the terms of the Ground Lease) or subordinated to any mortgage, deed of trust, lease or other interest, either orally or in writing, without the prior written consent of
Beneficiary; provided, however that, following the expiration or termination of the ACS Lease in accordance with its terms, the Ground Lease may be modified without the Beneficiary’s consent, unless such modification changes the use or
increases the cost of the Ground Lease to the Trustor, in which case Beneficiary’s prior written consent shall be required. 
 f. That if
the Ground Lease is for any reason whatsoever terminated prior to the expiration of its term and, if pursuant to any provision of the Ground Lease or otherwise, Beneficiary or its designee shall acquire from Landlord a new lease or other agreement
for the use of the Land, Trustor shall have no right, title or interest in or to such new lease or other agreement or the estate created thereby. 
 g. That, so long as this Deed of Trust is in effect, Trustor shall timely exercise all renewal and extension options under the Ground Lease and comply with all conditions precedent to the exercise thereof. 
 h. That from time to time upon the written request of Beneficiary, Trustor shall use reasonable efforts to obtain and deliver to Beneficiary estoppel
certificates from Landlord in form and substance acceptable to Beneficiary to the extent Landlord is obligated to deliver such certificates pursuant to the terms of the Ground Lease. 
  

	1.43	LANDLORD’S BANKRUPTCY. 

 a. Trustor
acknowledges that pursuant to Section 365 of the Bankruptcy Reform Act of 1978 (as the same may be amended from time to time, “Bankruptcy Act”) it is possible that a trustee in bankruptcy of Landlord or Landlord as a
debtor-in-possession could reject the Ground Lease, in which case Trustor, as 

  

 25 

 
tenant, would have the election described in Section 365(h) of the Bankruptcy Act (which election, as the same may be amended from time to time, and
together with any comparable right under any other state or federal law relating to bankruptcy, reorganization or other relief for debtors, whether now or hereafter in effect, is herein called the “Election”) to treat the Ground Lease as
terminated by such rejection or, in the alternative, to remain in possession for the balance of the term of the Ground Lease and any renewal or extension thereof that is enforceable by the tenant under applicable nonbankruptcy law. Trustor shall not
permit the termination of the Ground Lease by exercise of the Election or otherwise without the prior written consent of Beneficiary, which consent may be withheld, conditioned or delayed for any reason in Beneficiary’s sole and absolute
discretion. Trustor acknowledges that since the Ground Lease is a primary part of the security for the Secured Obligations, it is not anticipated that Beneficiary would consent to termination of the Ground Lease other than in accordance with its
terms. 
 b. In order to secure the covenant made in this Section 6.26 and as security for the other Secured Obligations, Trustor assigns
the Election and all rights related thereto to Beneficiary. Trustor acknowledges and agrees that the foregoing assignment of the Election and related rights is one of the rights which Beneficiary may use at any time in order to protect and preserve
the other rights and interests of Beneficiary under this Deed of Trust, since exercise of the Election in favor of terminating the Ground Lease would constitute waste hereunder. Trustor agrees that exercise of the Election in favor of preserving the
right to possession under the Ground Lease shall not be deemed to constitute a taking or sale of the Property by Beneficiary and shall not entitle Trustor to any credit against the Secured Obligations. 
 c. Trustor acknowledges and agrees that in the event the Election is exercised in favor of Trustor remaining in possession, Trustor’s resulting
rights under the Ground Lease, as adjusted by the effect of Section 365 of the Bankruptcy Act, shall then be part of the Property and shall be subject to the lien created by this Deed of Trust. 
  

	1.44	TRUSTOR’S (TENANT’S) BANKRUPTCY. 

 a. If there shall be filed by or against Trustor a petition under the Bankruptcy Act, and Trustor, as the tenant under the Ground Lease, shall determine to reject the Ground Lease pursuant to Section 365(a) of the Bankruptcy Act, then
Trustor shall give Beneficiary not less than ten (10) days’ prior notice of the date on which Trustor shall apply to the bankruptcy court for authority to reject the Ground Lease. Beneficiary shall have the right, but not the obligation,
to serve upon Trustor within such 10-day period a notice stating that (i) Beneficiary demands that Trustor assume and assign the Ground Lease to Beneficiary pursuant to Section 365 of the Bankruptcy Act and (ii) Beneficiary agrees to
cure or provide adequate assurance of prompt cure of all defaults and provide adequate assurance of future performance under the Ground Lease. If Beneficiary serves upon Trustor the notice described in the preceding sentence, Trustor shall not seek
to reject the Ground Lease and shall comply with the demand provided for in clause (i) of the preceding sentence within thirty (30) days after the notice shall have been given, subject to the performance by Beneficiary of the agreement
provided for in clause (ii) of the preceding sentence. 
 b. Effective upon the entry of an order for relief in respect of Trustor under
the Bankruptcy Act, Trustor hereby assigns and transfers to Beneficiary a non-exclusive right to apply to the bankruptcy court under Section 365(d)(4) of the Bankruptcy Act for an order extending the period during which the Ground Lease may be
rejected or assumed. 
 ARTICLE 7. DEFAULT 
  

	1.45	DEFAULT. For all purposes hereof, “Default” shall mean either an “Optional Default” (as defined below) or an “Automatic Default” (as
defined below). 

  

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	 	a.	Optional Default. An “Optional Default” shall occur, at Beneficiary’s option, upon the occurrence of any of the following events:

  

	 	(i)	Monetary. Borrower or Trustor shall fail to (aa) pay when due any sums which by their express terms require immediate payment without any grace period or sums which are
payable on the Maturity Date, or (bb) pay within 5 days when due any other sums payable under the Note, this Deed of Trust or any of the other Loan Documents, including without limitation, any monthly payment due under the Note.

  

	 	(ii)	Failure to Perform. Borrower or Trustor shall fail to observe, perform or discharge any of Borrower’s or Trustor’s obligations, covenants, conditions or agreements,
other than Borrower’s or Trustor’s payment obligations, under the Note, this Deed of Trust or any of the other Loan Documents, and (aa) such failure shall remain uncured for 30 days after written notice thereof shall have been given
to Borrower or Trustor, as the case may be, by Beneficiary or (bb) if such failure is of such a nature that it cannot be cured within such 30 day period, Borrower or Trustor shall fail to commence to cure such failure within such
30 day period or shall fail to diligently prosecute such curative action thereafter. 

  

	 	(iii)	Representations and Warranties. Any representation, warranty, certificate or other statement (financial or otherwise) made or furnished by or on behalf of Borrower, Trustor,
or a guarantor, if any, to Beneficiary or in connection with any of the Loan Documents, or as an inducement to Beneficiary to make the Loan, shall be false, incorrect, incomplete or misleading in any material respect when made or furnished and shall
cause a Material Adverse Effect (as hereinafter defined). 

  

	 	(iv)	Condemnation; Attachment. The condemnation, seizure or appropriation of any material portion (as reasonably determined by Beneficiary) of the Property; or the sequestration
or attachment of, or levy or execution upon any of the Property, the Collateral or any other collateral provided by Borrower or Trustor under any of the Loan Documents, or any material portion of the other assets of Borrower or Trustor, which
sequestration, attachment, levy or execution is not released or dismissed within 60 days after its occurrence; or the sale of any assets affected by any of the foregoing. 

  

	 	(v)	Uninsured Casualty. The occurrence of an uninsured casualty with respect to any material portion (as reasonably determined by Beneficiary) of the Property unless: (aa) no
other Default has occurred and is continuing at the time of such casualty or occurs thereafter; (bb) Trustor promptly notifies Beneficiary of the occurrence of such casualty; and (cc) not more than 45 days after the occurrence of such
casualty, Trustor delivers to Beneficiary immediately available funds in an amount sufficient, in Beneficiary’s reasonable opinion, to pay all costs of the repair or restoration (including, without limitation, taxes, financing charges,
insurance and rent during the repair period). So long as no Default has occurred and is continuing at the time of Beneficiary’s receipt of such funds and no Default occurs thereafter, Beneficiary shall make such funds available for the repair
or restoration of the Property. Notwithstanding the foregoing, Beneficiary shall have no obligation to make any funds available for repair or restoration of the Property unless and until all the conditions set forth in clauses (bb) and (cc) of
Section 1.28b(iii) of this Deed of Trust have been satisfied. Trustor acknowledges that the specific conditions described above are reasonable. 

  

	 	(vi)	Ground Lease. If at any time (aa) the Ground Lease is modified, surrendered or terminated (other than in accordance with its terms) without Beneficiary’s prior written
consent; or (bb) a default shall occur under the Ground Lease that is not cured by the time provided for cure for such default in the Ground Lease. 

  

 27 

 For the purposes of this Section 7.1(a), the term “Material Adverse Effect” shall mean
the occurrence or existence of a condition or event which would have a material adverse effect on (i) the business, profits, operations or financial condition of Borrower, (ii) the ability of Borrower to pay any amounts under the Loan
Documents as they become due, or (iii) the value of the Property. 
  

	 	b.	Automatic Default. An “Automatic Default” shall occur automatically upon the occurrence of any of the following events: 

  

	 	(i)	Voluntary Bankruptcy, Insolvency, Dissolution. (aa) Borrower’s filing a petition for relief under the Bankruptcy Reform Act of 1978, as amended or recodified
(“Bankruptcy Code”), or under any other present or future state or federal law regarding bankruptcy, reorganization or other relief to debtors (collectively, “Debtor Relief Law”); or (bb) Borrower’s filing any pleading in
any involuntary proceeding under the Bankruptcy Code or other Debtor Relief Law which admits the jurisdiction of a court to regulate Borrower or the Property or the petition’s material allegations regarding Borrower’s insolvency; or (cc)
Borrower’s making a general assignment for the benefit of creditors; or (dd) Borrower’s applying for, or the appointment of, a receiver, trustee, custodian or liquidator of Borrower or any of its property; or (ee) the filing by or against
Borrower of a petition seeking the liquidation or dissolution of Borrower or the commencement of any other procedure to liquidate or dissolve Borrower. 

  

	 	(ii)	Involuntary Bankruptcy. Borrower’s failure to effect a full dismissal of any involuntary petition under the Bankruptcy Code or other Debtor Relief Law that is filed
against Borrower or in any way restrains or limits Borrower or Beneficiary regarding the Loan or the Property, prior to the earlier of the entry of any order granting relief sought in the involuntary petition or 60 days after the date of filing
of the petition. 

  

	 	(iii)	Partners, Guarantors. The occurrence of an event specified in Sections (i) or (ii) as to Trustor, any general partner or managing member of Borrower or Trustor, or
any guarantor or other person or entity in any manner obligated to Beneficiary under the Loan Documents. 

  

	1.46	ACCELERATION. Upon the occurrence of an Optional Default, Beneficiary may, at its option, declare all sums owing to Beneficiary under the Note and the other Loan
Documents immediately due and payable. Upon the occurrence of an Automatic Default, all sums owing to Beneficiary under the Note and the other Loan Documents shall automatically become immediately due and payable. 

  

	1.47	RIGHTS AND REMEDIES. In addition to the rights and remedies in Section 1.46 above, at any time after a Default, Beneficiary shall have all of the following rights
and remedies: 

  

	 	a.	 Entry on Property. With or without notice, and without releasing Trustor from any Secured Obligation, and without becoming a mortgagee in possession,
to enter upon the Property from time to time and to do such acts and things as Beneficiary or Trustee deem necessary or desirable in order to inspect, investigate, assess and protect the security hereof or to cure any Default, including, without
limitation: (i) to take and possess all documents, books, records, papers and accounts of Trustor, Borrower or the then owner of the Property which relate to the Property; (ii) to make, terminate, enforce or modify leases of the Property
upon such terms and conditions as Beneficiary deems proper; (iii) to make repairs, alterations and improvements to the Property necessary, in Trustee’s or Beneficiary’s sole judgment, to protect or enhance the security hereof; 

  

 28 

 
(iv) to appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee hereunder;
(v) to pay, purchase, contest or compromise any encumbrance, charge, lien or claim of lien which, in the sole judgment of either Beneficiary or Trustee, is or may be senior in priority hereto, the judgment of Beneficiary or Trustee being
conclusive as between the parties hereto; (vi) to obtain insurance; (vii) to pay any premiums or charges with respect to insurance required to be carried hereunder or under any other Loan Document; (viii) to obtain a court order to
enforce Beneficiary’s right to enter and inspect the Property for Hazardous Materials, in which regard the decision of Beneficiary as to whether there exists a release or threatened release of Hazardous Materials onto the Property shall be
deemed reasonable and conclusive as between the parties hereto; (ix) to have a receiver appointed pursuant to applicable law to enforce Beneficiary’s rights to enter and inspect the Property for Hazardous Materials; and/or (x) to
employ legal counsel, accountants, engineers, consultants, contractors and other appropriate persons to assist them; 
  

	 	b.	Appointment of Receiver. With or without notice or hearing, to apply to a court of competent jurisdiction for and obtain appointment of a receiver, trustee, liquidator
or conservator of the Property, for any purpose, including, without limitation, to enforce Beneficiary’s right to collect Payments (subject, in the event of any application of such Payments, to the Trustor’s right to receive Permitted REIT
Distributions) and to enter on and inspect the Property for Hazardous Materials, as a matter of strict right and without regard to: (i) the adequacy of the security for the repayment of the Secured Obligations; (ii) the existence of a
declaration that the Secured Obligations are immediately due and payable; (iii) the filing of a notice of default; or (iv) the solvency of Trustor, Borrower or any guarantor or other person or entity in any manner obligated to Beneficiary
under the Loan Documents; 

  

	 	c.	Judicial Foreclosure; Injunction. To commence and maintain an action or actions in any court of competent jurisdiction to foreclose this instrument or to obtain
specific enforcement of the covenants of Trustor hereunder, and Trustor agrees that such covenants shall be specifically enforceable by injunction or any other appropriate equitable remedy and that for the purposes of any suit brought under this
subparagraph, Trustor waives the defense of laches and any applicable statute of limitations; 

  

	 	d.	Nonjudicial Foreclosure. Beneficiary may direct the Trustee to foreclose the lien of this Deed of Trust under power of sale, and Trustee shall thereupon be authorized
and empowered, in accordance with applicable law relating to nonjudicial foreclosure sales then in effect, to sell the Property at the time and place of sale fixed by it in the notice of sale, at one or several sales, either as a whole or in
separate parcels and in such manner and order, all as Beneficiary in its sole discretion may determine, at public auction to the highest bidder for cash, in lawful money of the United States, payable at time of sale. Neither Trustor nor any other
person or entity other than Beneficiary shall have the right to direct the order in which the Property is sold. Subject to requirements and limits imposed by law, Trustee may, from time to time postpone sale of all or any portion of the Property by
public announcement at such time and place of sale, and from time to time may postpone the sale by public announcement at the time and place fixed by the preceding postponement. A sale of less than the whole of the Property or any defective or
irregular sale made hereunder shall not exhaust the power of sale provided for herein. Trustee shall deliver to the purchaser at such sale a deed conveying the Property or portion thereof so sold, but without any covenant or warranty, express or
implied. The recitals in the deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including Trustee, Trustor or Beneficiary may purchase at the sale. If a foreclosure sale is held, the Trustee’s fee is
two percent (2%) of the outstanding balance of the Loan. In case of conflict with the power of sale provisions of the North Carolina General statutes, those provisions will control over the provisions of this Deed of Trust;

 Upon sale of the Property at any judicial or nonjudicial foreclosure, Beneficiary may credit bid (as determined by
Beneficiary in its sole and absolute discretion) all or any portion of the Secured Obligations. In determining such credit bid, Beneficiary may, but is not obligated to, take into account all or any of the following: (i) appraisals of the
Property as such appraisals may be discounted or adjusted by Beneficiary in its sole and absolute underwriting discretion; (ii) expenses and costs incurred by Beneficiary with respect to the Property prior to foreclosure; (iii) expenses
and costs which Beneficiary anticipates will be incurred with respect to the Property after foreclosure, but prior to resale, including, without limitation, costs of structural reports and other due diligence, costs to carry the 

  

 29 

 
Property prior to resale, costs of resale (e.g. commissions, attorneys’ fees, and taxes), costs of any Hazardous Materials clean-up and monitoring,
costs of deferred maintenance, repair, refurbishment and retrofit, costs of defending or settling litigation affecting the Property, and lost opportunity costs (if any), including the time value of money during any anticipated holding period by
Beneficiary; (iv) declining trends in real property values generally and with respect to properties similar to the Property; (v) anticipated discounts upon resale of the Property as a distressed or foreclosed property; (vi) the fact
of additional collateral (if any), for the Secured Obligations; and (vii) such other factors or matters that Beneficiary (in its sole and absolute discretion) deems appropriate. In regard to the above, Trustor acknowledges and agrees
that: (viii) Beneficiary is not required to use any or all of the foregoing factors to determine the amount of its credit bid; (ix) this paragraph does not impose upon Beneficiary any additional obligations that are not imposed by law at
the time the credit bid is made; (x) the amount of Beneficiary’s credit bid need not have any relation to any loan-to-value ratios specified in the Loan Documents or previously discussed between Trustor and Beneficiary; and
(xi) Beneficiary’s credit bid may be (at Beneficiary’s sole and absolute discretion) higher or lower than any appraised value of the Property; 
  

	 	e.	Multiple Foreclosures. To resort to and realize upon the security hereunder and any other security now or later held by Beneficiary concurrently or successively and in
one or several consolidated or independent judicial actions or lawfully taken nonjudicial proceedings, or both, and to apply the proceeds received upon the Secured Obligations all in such order and manner as Trustee and Beneficiary or either of them
determine in their sole discretion; 

  

	 	f.	Rights to Collateral. To exercise all rights Trustee or Beneficiary may have with respect to the Collateral under this Deed of Trust, the UCC or otherwise at law; and

  

	 	g.	Other Rights. To exercise such other rights as Trustee or Beneficiary may have at law or in equity or pursuant to the terms and conditions of this Deed of Trust or any
of the other Loan Documents. 

 In connection with any sale or sales hereunder, Beneficiary may elect to treat any of the
Property which consists of a right in action or which is property that can be severed from the Property (including, without limitation, any improvements forming a part thereof) without causing structural damage thereto as if the same were personal
property or a fixture, as the case may be, and dispose of the same in accordance with applicable law, separate and apart from the sale of the Property. Any sale of Collateral hereunder shall be conducted in any manner permitted by the UCC.

  

	1.48	APPLICATION OF FORECLOSURE SALE PROCEEDS. If any foreclosure sale is effected, Trustee shall apply the proceeds of such sale in the following order of priority:
First, to the costs, fees and expenses of exercising the power of sale and of sale, including, without limitation, the payment of the Trustee’s fees and reasonable attorneys’ fees; Second, to the payment of the Secured
Obligations which are secured by this Deed of Trust, in such order as Beneficiary shall determine in its sole discretion; Third, to satisfy the outstanding balance of obligations secured by any junior liens or encumbrances in the order of
their priority; and Fourth, to the Trustor or the Trustor’s successor in interest, or in the event the Property has been sold or transferred to another, to the vested owner of record at the time of the Trustee’s sale.

  

	1.49	WAIVER OF MARSHALING RIGHTS. Trustor, for itself and for all parties claiming through or under Trustor, and for all parties who may acquire a lien on or interest in
the Property, hereby waives all rights to have the Property and/or any other property, including, without limitation, the Collateral, which is now or later may be security for any Secured Obligation, marshaled upon any foreclosure of this Deed of
Trust or on a foreclosure of any other security for any of the Secured Obligations. 

  

	1.50	 NO CURE OR WAIVER. Neither Beneficiary’s nor Trustee’s nor any receiver’s entry upon and taking possession of all or any part of the
Property, nor any collection of rents, issues, profits, insurance proceeds, condemnation proceeds or damages, other security or proceeds of other security, or other sums, nor the 

  

 30 

	 	 
application of any collected sum to any Secured Obligation, nor the exercise of any other right or remedy by Beneficiary or Trustee or any receiver shall
cure or waive any Default or notice of default under this Deed of Trust, or nullify the effect of any notice of default or sale (unless all Secured Obligations then due have been paid or performed and Trustor has cured all other Defaults hereunder),
or impair the status of the security, or prejudice Beneficiary or Trustee in the exercise of any right or remedy, or be construed as an affirmation by Beneficiary of any tenancy, lease or option or a subordination of the lien of this Deed of Trust.

  

	1.51	PAYMENT OF COSTS, EXPENSES AND ATTORNEYS’ FEES. Trustor agrees to pay to Beneficiary immediately and upon demand all costs and expenses incurred by Trustee and
Beneficiary in the enforcement of the terms and conditions of this Deed of Trust (including, without limitation, statutory trustee’s fees, court costs and reasonable attorneys’ fees, whether incurred in litigation or not) with interest
from the date of expenditure until said sums have been paid at the rate of interest applicable to the principal balance of the Note as specified therein. 

  

	1.52	POWER TO FILE NOTICES AND CURE DEFAULTS. Trustor hereby irrevocably appoints Beneficiary and its successors and assigns, as its attorney-in-fact, which agency is
coupled with an interest, to perform any obligation of Trustor hereunder upon the occurrence of an event, act or omission which, with notice or passage of time or both, would constitute a Default, provided, however, that:
(a) Beneficiary as such attorney-in-fact shall only be accountable for such funds as are actually received by Beneficiary; and (b) Beneficiary shall not be liable to Trustor or any other person or entity for any failure to act under this
Section. 

  

	1.53	REMEDIES CUMULATIVE. All rights and remedies of Beneficiary and Trustee under this Deed of Trust and the other Loan Documents are cumulative and are in addition to all
rights and remedies provided by applicable law. Beneficiary may enforce any one or more remedies or rights under the Loan Documents either successively or concurrently. 

 ARTICLE 8. MISCELLANEOUS PROVISIONS 
  

	1.54	ADDITIONAL PROVISIONS. The Loan Documents contain or incorporate by reference the entire agreement of the parties with respect to matters contemplated herein and
supersede all prior negotiations. The Loan Documents grant further rights to Beneficiary and contain further agreements and affirmative and negative covenants by Trustor which apply to this Deed of Trust and to the Property and such further rights
and agreements are incorporated herein by this reference. THE OBLIGATIONS AND LIABILITIES OF TRUSTOR UNDER THIS DEED OF TRUST AND THE OTHER LOAN DOCUMENTS ARE SUBJECT TO THE PROVISIONS OF THE SECTION IN THE NOTE ENTITLED “BORROWER’S
LIABILITY.” 

  

	1.55	NON-WAIVER. By accepting payment of any amount secured hereby after its due date or late performance of any other Secured Obligation, Beneficiary shall not waive its
right against any person obligated directly or indirectly hereunder or on any Secured Obligation, either to require prompt payment or performance when due of all other sums and obligations so secured or to declare default for failure to make such
prompt payment or performance. No exercise of any right or remedy by Beneficiary or Trustee hereunder shall constitute a waiver of any other right or remedy herein contained or provided by law. No failure by Beneficiary or Trustee to exercise any
right or remedy hereunder arising upon any Default shall be construed to prejudice Beneficiary’s or Trustee’s rights or remedies upon the occurrence of any other or subsequent Default. No delay by Beneficiary or Trustee in exercising any
such right or remedy shall be construed to preclude Beneficiary or Trustee from the exercise thereof at any time while that Default is continuing. No notice to nor demand on Trustor shall of itself entitle Trustor to any other or further notice or
demand in similar or other circumstances. 

  

	1.56	CONSENTS AND APPROVALS. Wherever Beneficiary’s consent, approval, acceptance or satisfaction is required under any provision of this Deed of Trust or any of the
other Loan Documents, such consent, approval, acceptance or satisfaction shall not be unreasonably withheld, conditioned or delayed by Beneficiary unless such provision expressly so provides. 

  

 31 

	1.57	PERMITTED CONTESTS. After prior written notice to Beneficiary, Trustor may contest, by appropriate legal or other proceedings conducted in good faith and with due
diligence, the amount, validity or application, in whole or in part, of any lien, levy, tax or assessment, or any lien of any laborer, mechanic, materialman, supplier or vendor, or the application to Trustor or the Property of any law or the
validity thereof, the assertion or imposition of which, or the failure to pay when due, would constitute a Default; provided that (a) Trustor pursues the contest diligently, in a manner which Beneficiary determines is not prejudicial to
Beneficiary, and does not impair the lien of this Deed of Trust; (b) the Property, or any part hereof or estate or interest therein, shall not be in any danger of being sold, forfeited or lost by reason of such proceedings; (c) in the case
of the contest of any law or other legal requirement, Beneficiary shall not be in any danger of any civil or criminal liability; and (d) if required by Beneficiary, Trustor deposits with Beneficiary any funds or other forms of assurance
(including a bond or letter of credit) satisfactory to Beneficiary to protect Beneficiary from the consequences of the contest being unsuccessful. Trustor’s right to contest pursuant to the terms of this provision shall in no way relieve
Trustor or Borrower of its obligations under the Loan or to make payments to Beneficiary as and when due. 

  

	1.58	FURTHER ASSURANCES. Trustor shall, upon demand by Beneficiary or Trustee, execute, acknowledge (if appropriate) and deliver any and all documents and instruments and
do or cause to be done all further acts reasonably necessary or appropriate to effectuate the purposes of the Loan Documents and to perfect any assignments contained therein. 

  

	1.59	ATTORNEYS’ FEES. If any legal action, suit or proceeding is commenced between Trustor and Beneficiary regarding their respective rights and obligations under this
Deed of Trust or any of the other Loan Documents, the prevailing party shall be entitled to recover, in addition to damages or other relief, costs and expenses, reasonable attorneys’ fees and court costs (including, without limitation, expert
witness fees). As used herein the term “prevailing party” shall mean the party which obtains the principal relief it has sought, whether by compromise settlement or judgment. If the party which commenced or instituted the action, suit or
proceeding shall dismiss or discontinue it without the concurrence of the other party, such other party shall be deemed the prevailing party. 

  

	1.60	TRUSTOR AND BENEFICIARY DEFINED. The term “Trustor” includes both the original Trustor and any subsequent owner or owners of any of the Property, and the
term “Beneficiary” includes the original Beneficiary and any future owner or holder, including assignees, pledges and participants, of the Note or any interest therein. 

  

	1.61	DISCLAIMERS. 

  

	 	a.	Nominee Capacity of MERS. MERS serves as mortgagee of record and secured party solely as nominee, in an administrative capacity, for Lender and its successors and
assigns and only holds legal title to the interests granted, assigned, and transferred herein. All payments or deposits with respect to the Secured Obligations shall be made to Lender, all advances under the Loan Documents shall be made by Lender,
and all consents, approvals, or other determinations required or permitted of Beneficiary herein shall be made by Lender. MERS shall at all times comply with the instructions of Lender and its successors and assigns. If necessary to comply with law
or custom, MERS (for the benefit of Lender and its successors and assigns) may be directed by Lender to exercise any or all of those interests, including without limitation, the right to foreclose and sell the Property, and take any action required
of Lender, including without limitation, a release, discharge or reconveyance of this Deed of Trust. Subject to the foregoing, all references herein to “Beneficiary” shall include Lender and its successors and assigns.

  

	 	b.	 Relationship. The relationship of Trustor and Beneficiary under this Deed of Trust and the other Loan Documents is, and shall at all times remain,
solely that of borrower and lender; (the role of MERS hereunder being solely that of nominee as set forth in subsection (a) above and not that of a 

  

 32 

	 	 
lender); and Beneficiary neither undertakes nor assumes any responsibility or duty to Trustor or to any third party with respect to the Property.
Notwithstanding any other provisions of this Deed of Trust and the other Loan Documents: (i) Beneficiary is not, and shall not be construed to be, a partner, joint venturer, member, alter ego, manager, controlling person or other business
associate or participant of any kind of Trustor, and Beneficiary does not intend to ever assume such status; (ii) Lender’s activities in connection with this Deed of Trust and the other Loan Documents shall not be “outside the scope
of activities of a lender of money” within the meaning of California Civil Code Section 3434, as amended or recodified from time to time, and Beneficiary does not intend to ever assume any responsibility to any person for the quality,
suitability, safety or condition of the Property; and (iii) Beneficiary shall not be deemed responsible for or a participant in any acts, omissions or decisions of Trustor. 

  

	 	c.	No Liability. Beneficiary shall not be directly or indirectly liable or responsible for any loss, claim, cause of action, liability, indebtedness, damage or injury of
any kind or character to any person or property arising from any construction on, or occupancy or use of, the Property, whether caused by or arising from: (i) any defect in any building, structure, grading, fill, landscaping or other
improvements thereon or in any on-site or off-site improvement or other facility therein or thereon; (ii) any act or omission of Trustor or any of Trustor’s agents, employees, independent contractors, licensees or invitees; (iii) any
accident in or on the Property or any fire, flood or other casualty or hazard thereon; (iv) the failure of Trustor or any of Trustor’s licensees, employees, invitees, agents, independent contractors or other representatives to maintain the
Property in a safe condition; or (v) any nuisance made or suffered on any part of the Property. 

  

	1.62	SEVERABILITY. If any term of this Deed of Trust or any other Loan Document, or the application thereof to any person or circumstances, shall, to any extent, be invalid
or unenforceable, the remainder of this Deed of Trust or such other Loan Document, or the application of such term to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each term
of this Deed of Trust or such other Loan Document shall be valid and enforceable to the fullest extent permitted by law. 

  

	1.63	RELATIONSHIP OF ARTICLES. The rights, remedies and interests of Beneficiary under the deed of trust established by Article 1 and the security agreement established by
Article 4 are independent and cumulative, and there shall be no merger of any lien created by the deed of trust with any security interest created by the security agreement. Beneficiary may elect to exercise or enforce any of its rights, remedies or
interests under either or both the deed of trust or the security agreement as Beneficiary may from time to time deem appropriate. The absolute assignment of rents and leases established by Article 3 is similarly independent of and separate from the
deed of trust and the security agreement. 

  

	1.64	MERGER. No merger shall occur as a result of Beneficiary’s acquiring any other estate in, or any other lien on, the Property unless Beneficiary consents to a
merger in writing. 

  

	1.65	OBLIGATIONS OF TRUSTOR, JOINT AND SEVERAL. If more than one person has executed this Deed of Trust as “Trustor”, the obligations of all such persons
hereunder shall be joint and several. 

  

	1.66	SEPARATE AND COMMUNITY PROPERTY. Any married person who executes this Deed of Trust as a “Trustor” agrees that any money judgment which Beneficiary or
Trustee obtains pursuant to the terms of this Deed of Trust or any other obligation of that married person secured by this Deed of Trust may be collected by execution upon any separate property or community property of that person.

  

	1.67	 INTEGRATION; INTERPRETATION. The Loan Documents contain or expressly incorporate by reference the entire agreement of the parties with respect to the
matters contemplated therein and supersede all prior negotiations or agreements, written or oral. The Loan Documents shall not be modified except by written instrument executed by all parties. Any reference in any of the Loan Documents to the Land,
the Ground Lease, the Property or the Collateral shall include all or any part of, or interest in the Land, the 

  

 33 

	 	 
Ground Lease, the Property or the Collateral. Any reference to the Loan Documents includes any amendments, renewals or extensions now or hereafter approved
by Beneficiary in writing. When the identity of the parties or other circumstances make it appropriate, the masculine gender includes the feminine and/or neuter, and the singular number includes the plural. 

  

	1.68	CAPITALIZED TERMS. Capitalized terms not otherwise defined herein shall have the meanings set forth in the Note. 

  

	1.69	SUCCESSORS IN INTEREST. The terms, covenants, and conditions contained herein and in the other Loan Documents shall be binding upon and inure to the benefit of the
heirs, successors and assigns of the parties. The foregoing sentence shall not be construed to permit Trustor to assign the Loan except as otherwise permitted under the Note or the other Loan Documents. 

  

	1.70	GOVERNING LAW. This Deed of Trust was accepted by Beneficiary in the state of California and the proceeds of the Note secured hereby were disbursed from the state of
California, which state the parties agree has a substantial relationship to the parties and to the underlying transaction embodied hereby. Accordingly, in all respects, including, without limiting the generality of the foregoing, matters of
construction, validity, enforceability and performance, this Deed of Trust, the Note and the other Loan Documents and the obligations arising hereunder and thereunder shall be governed by, and construed in accordance with, the laws of the state of
California applicable to contracts made and performed in such state and any applicable law of the United States of America, except that at all times the provisions for enforcement of the lien and all other remedies granted hereunder and the
creation, perfection and enforcement of the security interests created pursuant hereto and pursuant to the other Loan Documents in any Collateral which is located in the state where the Property is located shall be governed by and construed
according to the law of the state where the Property is located. Except as provided in the immediately preceding sentence, Trustor hereby unconditionally and irrevocably waives, to the fullest extent permitted by law, any claim to assert that the
law of any jurisdiction other than California governs this Deed of Trust, the Note and other Loan Documents. 

  

	1.71	CONSENT TO JURISDICTION. Trustor irrevocably submits to the jurisdiction of: (a) any state or federal court sitting in the state of California over any suit,
action, or proceeding, brought by Trustor against Beneficiary, arising out of or relating to this Deed of Trust, the Note or the Loan; (b) any state or federal court sitting in the state where the Property is located or the state in which
Trustor’s principal place of business is located over any suit, action or proceeding, brought by Beneficiary against Trustor, arising out of or relating to this Deed of Trust, the Note or the Loan; and (c) any state court sitting in the
county of the state where the Property is located over any suit, action, or proceeding to foreclose the lien of this Deed of Trust or any action brought by Beneficiary to enforce its rights with respect to the Collateral. Trustor irrevocably waives,
to the fullest extent permitted by law, any objection that Trustor may now or hereafter have to the laying of venue of any such suit, action, or proceeding brought in any such court and any claim that any such suit, action, or proceeding brought in
any such court has been brought in an inconvenient forum. 

  

	1.72	EXHIBITS. Exhibit A is incorporated into this Deed of Trust by this reference. 

  

	1.73	ADDRESSES; REQUEST FOR NOTICE. All notices and other communications that are required or permitted to be given to a party under this Deed of Trust or the other Loan
Documents shall be in writing, refer to the Loan number, and shall be sent to such party, either by personal delivery, by overnight delivery service, by certified first class mail, return receipt requested, or by facsimile transmission to the
addressee or facsimile number below. All such notices and communications shall be effective upon receipt of such delivery or facsimile transmission. The addresses of the parties are set forth on page 1 of this Deed of Trust and the facsimile numbers
for the parties are as follows: 

  

			
	Beneficiary:	  	Trustee:
		
	MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC.	  	J. EDWARD BLAKEY
	FAX No.: (703) 748-0183	  	FAX No.: (925) 691-5249
		
	Trustor:	  	With additional copies to:
		
	KBS CRESCENT GREEN, LLC	  	Peter Potrykus
	FAX No.: (949) 417-6518	  	KBS Capital Advisors LLC
		  	1133 21st Street NW, Suite 400
		  	Washington, DC 20036
	With a copy to:	  	FAX No.: (202) 822-1340
		
	Stacie Yamane	  	L. Bruce Fischer
	KBS Realty Advisors LLC	  	Morgan, Lewis & Bockius LLP
	620 Newport Center Drive, Suite 1300	  	5 Park Plaza, Suite 1750
	Newport Beach, CA 92660	  	Irvine, CA 92614
	FAX No.: (949) 417-6520	  	FAX No.: (949) 399-7001

  

 34 

 Trustor’s principal place of business is at the address set forth on page 1 of this Deed of Trust.

 Any Trustor whose address is set forth on page 1 of this Deed of Trust hereby requests that a copy of notice of default and notice of sale
be delivered to it at that address. Failure to insert an address shall constitute a designation of Trustor’s last known address as the address for such notice. Any party shall have the right to change its address for notice hereunder to any
other location within the continental United States by giving 30 days notice to the other parties in the manner set forth above. 
  

	1.74	COUNTERPARTS. This Deed of Trust may be executed in any number of counterparts, each of which, when executed and delivered, will be deemed an original and all of which
taken together, will be deemed to be one and the same instrument. 

  

	1.75	WAIVER OF JURY TRIAL. TO THE EXTENT NOW OR HEREAFTER PERMITTED BY APPLICABLE LAW, BENEFICIARY AND TRUSTOR HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY
RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS DEED OF TRUST OR ANY OTHER LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL
OR WRITTEN) OR ACTIONS OF BENEFICIARY OR TRUSTOR. THIS PROVISION IS A MATERIAL INDUCEMENT FOR BENEFICIARY TO ENTER INTO THIS DEED OF TRUST. 

  

 35 

 IN WITNESS WHEREOF, Trustor has executed this Deed of Trust under seal as of the day and year set forth above.

 “TRUSTOR” 
  

															
	KBS CRESCENT GREEN, LLC,
	a Delaware limited liability company
		
	By:	 	KBS REIT ACQUISITION IX, LLC,
		 	a Delaware limited liability company, its sole member
			
		 	By:	 	KBS LIMITED PARTNERSHIP,
		 		 	a Delaware limited partnership, its sole member
				
		 		 	By:	 	KBS REAL ESTATE INVESTMENT TRUST, INC.,
		 		 		 	a Maryland corporation, general partner
					
		 		 		 	By:	 	 /s/ Charles J. Schreiber, Jr.

		 		 		 		 	Charles J. Schreiber, Jr.
		 		 		 		 	Chief Executive Officer

 (ALL SIGNATURES MUST BE ACKNOWLEDGED – CORPORATE SEALS ARE REQUIRED) 
 (For individuals and individuals in a partnership, you must have “(SEAL)” written after the signature block. 
  

 36Promissory Note (related to the acquisition of the Crescent Green Building)

 Exhibit 10.55 
  

			
	 PROMISSORY NOTE SECURED BY DEED OF TRUST
	  	

  

			
	$32,400,000.00	  	Loan No. 31-0905749
		  	MERS MIN#: 800010100000048883
		  	San Francisco, California
		  	January 29, 2007

  

	1.	PROMISE TO PAY. For value received, the undersigned KBS CRESCENT GREEN, LLC, a Delaware limited liability company (“Borrower”), promise(s) to pay to the
order of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Lender”), 1320 Willow Pass Road, Suite 205, Concord, California 94520, or at such other place as may be designated in writing by Lender, the principal sum of THIRTY TWO MILLION FOUR HUNDRED
THOUSAND AND NO/100THS DOLLARS ($32,400,000.00) (“Loan”), with interest thereon as specified herein. All sums owing hereunder are payable in lawful money of the United States of America, in immediately available funds, without offset,
deduction or counterclaim of any kind. 

  

	2.	SECURED BY DEED OF TRUST. This Note is secured by, among other things, that Deed of Trust and Absolute Assignment of Rents and Leases and Security Agreement (and
Fixture Filing) (“Deed of Trust”) of even date herewith given by Borrower for the benefit of Mortgage Electronic Registration Systems, Inc., a Delaware corporation, identifying this Note as an obligation secured thereby and encumbering
certain real property described therein (“Property”). 

  

	3.	DEFINITIONS. For the purposes of this Note, the following terms shall have the following meanings: 

 “30/360 Basis” means on the basis of a 360-day year consisting of 12 months of 30 days each. 
 “Actual/360 Basis” means on the basis of a 360-day year and charged on the basis of actual days elapsed for any whole or partial month in which
interest is being calculated. 
 “Allocated Share” shall mean at any time, and from time to time, an amount expressed as a
percentage that is calculated by dividing the cost basis of the Property by the cost basis of all real property owned directly or indirectly by the REIT or the REIT Operating Partnership. 
 “ACS” means Affiliated Computer Services, Inc. 
 “ACS Lease” means, individually or collectively, as the context requires, that certain Lease Agreement dated as of May 26, 2006 by and between ACS and Crescent 1200, L.L.C., a Delaware limited liability
company, as amended by that certain Lease Modification Agreement No. 1 dated as of December 20, 2006 (the “1200 Lease”), and that certain Lease Agreement dated as of June 2, 2006 by and between ACS and Crescent 1300, L.L.C.,
a Delaware limited liability company, as amended by that certain Lease Modification Agreement No. 1 dated as of December 20, 2006 (the “1300 Lease”). 
 “Business Day” means any day other than a Saturday, Sunday, legal holiday or other day on which commercial banks in California are authorized or required by law to close. All references in this Note to a
“day” or a “date” shall be to a calendar day unless specifically referenced as a Business Day. 
 “Cash Management
Agreement” shall mean that certain Cash Management Agreement (Springing Hard) dated as of the date hereof between Borrower and Lender. 
 “Cash Management Period” shall mean the occurrence of a Default. A Cash Management Period shall terminate in the event that a Default has been cured. 
 “Code” means the Internal Revenue Code of 1986, as amended to date and as further amended from time to time, or any successor statutes thereto, together with applicable regulations issued pursuant thereto in
temporary or final form. 
 “Collateral” shall have the meaning stated in the Deed of Trust. 
  

 1 

 “Default” shall have the meaning stated in the Deed of Trust. 
 “Default Rate” means the lesser of (a) a fixed annual rate equal to 5% plus the Note Rate then in effect at the time of the Default, and
(b) the maximum rate of interest permitted under applicable law. 
 “Defeasance” means the Borrower’s substitution of
Collateral and Lender’s release of the lien of the Deed of Trust upon satisfaction of all of the terms and conditions of Section 12. 
 “Defeasance Collateral” means obligations or securities selected by Borrower, not subject to prepayment, call or early redemption, each of which qualifies as a “Government security” as defined in Section 2(a)(16) of
the Investment Company Act of 1940, as amended (15 U.S.C. §80a-1 et seq.), together with all revenues and proceeds of such obligations or securities. 
 “Defeasance Date” means the date upon which the Defeasance is completed. 
 “Defeasance Option
End Date” means October 31, 2011. 
 “Defeasance Option Period” means the period from and including the Defeasance Option
Start Date to and including the Defeasance Option End Date. 
 “Defeasance Option Start Date” means the earlier of (a) the
twenty-fifth Due Date following the Startup Day of any REMIC which holds this Note on the Defeasance Date and (b) three (3) years after the Effective Date. 
 “Defeasance Property” means any Individual Property or Properties that are released from the lien of the Deed of Trust as a result of a Partial Defeasance. 
 “Defeasance Security Agreements” means a pledge and security agreement and an account control agreement, each in form and substance customary in
commercial mortgage defeasance transactions. 
 “Disbursement Date” means the date upon which the Loan proceeds are funded by Lender
into escrow in connection with the closing of the Loan. 
 “Due Date” means the first day of each calendar month during the period
commencing on the First Due Date and ending on January 1, 2012. 
 “Effective Date” means the earlier of (a) the date the
Deed of Trust is recorded in the Office of the Register of Deeds of the county where the Property is located and (b) the date Lender authorizes the Loan proceeds to be released to Borrower. 
 “First Due Date” means February 1, 2007. 
 “First Interest Only Due Date” means March 1, 2007. 
 “Initial Rate” shall have the
meaning set forth in the definition of “Note Rate.” 
 “Intercreditor Agreement” means that certain Intercreditor
Agreement dated of even date herewith between Lender and Mezzanine Lender. 
 “Interest Only Payment Amount” means a monthly payment
of accrued interest based on the Note Rate and the outstanding principal balance due on each Due Date commencing on the First Interest Only Due Date and continuing through and including the Maturity Date. 
 “Loan Documents” means the documents identified as such in Exhibit B. 
 “Maturity Date” means February 1, 2012. 
 “Mezzanine Borrower” means KBS REIT ACQUISITION IX, LLC, a Delaware limited liability company. 
 “Mezzanine Lender” means Wells Fargo Bank, National Association. 
  

 2 

 “Mezzanine Loan” means that certain loan from Mezzanine Lender to Mezzanine Borrower of even
date herewith. 
 “Note Rate” means (a) a fixed annual rate of 5.18% during the period from the Disbursement Date until the Due
Date in February, 2009 (the “Initial Rate”) and (b) from the Due Date in February, 2009, through the Maturity Date, a fixed annual rate of 5.68% (the “Revised Rate”). 
 “Open Period Start Date” means November 1, 2011. 
 “Permitted REIT Distributions” shall mean, subject to compliance with the provisions of Section 14 hereof, distributions (directly or indirectly) by Borrower to the REIT (which indirectly owns
100% of Borrower) to the extent that, if not distributed to the REIT: (A) the REIT would, as the result of the failure of Borrower to receive cash from the Property, be unable to distribute all REIT taxable income with respect to the Property,
or (B) the REIT would, solely as a result of the failure of Borrower to receive cash from the Property, fail to satisfy its obligations to pay REIT Operating Expenses. 
 “Prepayment Lockout End Date” means October 31, 2011. 
 “Prepayment Lockout Period” means the period from and including the Effective Date to and including the Prepayment Lockout End Date. 
 “Projection Period” shall have the meaning set forth in Section 14 hereof. 
 “Rating Agencies” means Fitch, Inc., Moody’s Investors Service, Inc., Standard & Poor’s Rating Services and any other
nationally-recognized statistical rating organization that, in connection with the securitization of the Loan by a REMIC maintains a rating, on the Defeasance Date, of the securities issued by the REMIC. 
 “REIT” means KBS Real Estate Investment Trust, Inc. 
 “REIT Distribution Notice” shall have the meaning set forth in Section 14 hereof. 
 “REIT Operating Expenses” shall mean the Allocated Share of all actual costs, expenses and/or amounts incurred by, or payable or reimbursable by, the REIT or the REIT Operating Partnership for any of the following:
(a) charges and fees charged by banks, audit fees, tax preparation fees, legal fees (not including any legal fees incurred by Borrower at the property level or in any litigation or legal matter concerning Lender, including a bankruptcy filing
affecting Borrower), accounting consulting fees related to emerging technical pronouncements, tax consulting fees relating to REIT issues, due diligence costs and fees arising from state and local taxes, fees and expenses incurred in connection with
annual corporate filings, and local, state and federal income taxes, (b) professional fees related to corporate structuring and/or filings, consulting fees and filing fees arising from SEC reporting requirements including, without limitation,
10K filings, 10Q filings, and 8k filings, consulting fees and other fees and costs related to Sarbanes-Oxley 404 compliance requirements. 
 “REIT Operating Partnership” means KBS Limited Partnership, a Delaware limited partnership. 
 “REMIC” means a
“real estate mortgage investment conduit” within the meaning of Section 860D of the Code. 
 “Revised Rate” shall
have the meaning set forth in the definition of “Note Rate.” 
 “Startup Day” means the “startup day” within the
meaning of Section 860G(a)(9) of the Code. 
 “Successor Borrower” means an entity designated by Borrower and approved by
Lender using commercial standards customarily applied by prudent institutional mortgage lenders for similar loans, whose sole purpose is to own the Defeasance Collateral delivered by Borrower under Section 12 and assume Borrower’s
obligations with respect to the Loan either alone, or together with the Defeasance Collateral for other, previously defeased loans or portions of loans assumed by Successor Borrower which are also held by the REMIC that holds this Note. Successor
Borrower shall, in either case, be restricted from taking actions that could result in its bankruptcy or dissolution. 
  

 3 

	4.	INTEREST; PAYMENTS. 

  

	 	4.1	Interest Accrual. Interest on the outstanding principal balance of this Note shall accrue from the Disbursement Date at the Note Rate calculated on an Actual/360
Basis. 

  

	 	4.2	Payments. Monthly payments, each in the Interest Only Payment Amount, shall commence on the First Interest Only Due Date and continue on each Due Date thereafter. In
addition, if the Disbursement Date is not the first day of a calendar month, an interest-only payment shall be due on the First Due Date. Borrower acknowledges that the Interest Only Payment Amount was determined using a 30/360 Basis despite the
fact that interest on this Note accrues on an Actual /360 Basis. During a Cash Management Period, and on each Due Date thereafter so long as a Cash Management Period is continuing, all deposits and payments shall be made and applied in accordance
with Section 4 of the Cash Management Agreement. All interest shall be paid in arrears. On the Maturity Date, all unpaid principal and accrued but unpaid interest shall be due and owing in full. All interest shall be paid in arrears. Except as
otherwise specifically provided in this Note or the other Loan Documents, all payments and deposits due under this Note or the other Loan Documents shall be made to Lender not later than 12:00 noon, Pacific time, on the day on which such payment or
deposit is due. Any funds received by Lender after such time shall, for all purposes, be deemed to have been received on the next succeeding Business Day. 

  

	 	4.3	Acknowledgments. Borrower acknowledges that interest calculated on an Actual/360 Basis exceeds interest calculated on a 30/360 Basis and, therefore: (a) a greater
portion of each monthly installment of principal and interest will be applied to interest using the Actual/360 Basis than would be the case if interest accrued on a 30/360 Basis; and (b) the unpaid principal balance of this Note on the Maturity
Date will be greater using the Actual/360 Basis than would be the case if interest accrued on a 30/360 Basis. 

  

	 	4.4	Application of Payments. In the absence of a specific determination by Lender to the contrary, and subject to Borrower’s right to receive Permitted REIT
Distributions, all payments paid by Borrower to Lender in connection with the obligations of Borrower under this Note and under the other Loan Documents shall be applied in the following order of priority: (a) to amounts, other than principal
and interest, due to Lender pursuant to this Note or the other Loan Documents; (b) to accrued but unpaid interest on this Note; and (c) to the unpaid principal balance of this Note. Subject to the foregoing, Borrower irrevocably waives the
right to direct the application of any payments at any time received by Lender from or on behalf of Borrower, and Borrower agrees that Lender shall have the continuing exclusive right to apply any such payments to the then due and owing obligations
of Borrower in such order of priority as Lender may deem advisable. 

  

	5.	LATE CHARGE; DEFAULT RATE. 

  

	 	5.1	Late Charge. If all or any portion of any payment (including, without limitation, any payment of any interest, Interest Only Payment amount, impound or other deposit)
required pursuant to the Cash Management Agreement or hereunder (other than the payment due on the Maturity Date) is not paid or deposited on or before the fifth day following the day on which the payment is due, Borrower shall pay a late or
collection charge, as liquidated damages, equal to 5% of the amount of such unpaid payment. If all or any portion of the payment due on the Maturity Date is paid after the Maturity Date and on a date which is not the first day of a calendar month,
Borrower shall pay a late or collection charge, as liquidated damages, equal to the interest which would have accrued on such amount during the period commencing on the date payment of such amount is actually made and ending on the last day of the
calendar month in which payment of such amount is actually made. Borrower acknowledges that Lender will incur additional expenses as a result of any late payments or deposits hereunder, which expenses would be impracticable to quantify, and that
Borrower’s payments under this Section 5.1 are a reasonable estimate of such expenses. 

  

	 	5.2	Default Rate. Commencing upon a Default and continuing until such Default shall have been cured by Borrower, all sums owing on this Note shall bear interest until paid
in full at the Default Rate. 

  

	6.	 MAXIMUM RATE PERMITTED BY LAW. Neither this Note nor any of the other Loan Documents shall require the payment or permit the collection of any
interest or any late payment charge in excess of the maximum rate permitted by law. If any such excess interest or late payment charge is provided for under this Note or any of the other Loan Documents or if this Note or any of the other Loan
Documents shall be adjudicated to provide for such excess, neither Borrower nor Borrower’s successors or assigns shall be obligated to pay such excess, and the right to demand the payment of any such excess shall be and hereby is waived, and
this provision shall control any other provision of this 

  

 4 

	 	 
Note or any of the other Loan Documents. If Lender shall collect amounts which are deemed to constitute interest and which would increase the effective
interest rate to a rate in excess of the maximum rate permitted by law, all such amounts deemed to constitute interest in excess of the maximum legal rate shall, upon such determination, at the option of Lender, be returned to Borrower or credited
against the outstanding principal balance of this Note. 

  

	7.	ACCELERATION. If (a) Borrower shall fail to pay when due any sums payable under this Note following the expiration of notice, grace or cure periods, if any;
(b) any other Default shall occur; or (c) any other event or condition shall occur which, under the terms of the Deed of Trust or any other Loan Document, gives rise to a right of acceleration of sums owing under this Note following the
expiration of notice, grace or cure periods, if any, then Lender, at its sole option, shall have the right to declare all sums owing under this Note immediately due and payable; provided, however, that if the Deed of Trust or any other Loan Document
provides for the automatic acceleration of payment of sums owing under this Note, all sums owing under this Note shall be automatically due and payable in accordance with the terms of the Deed of Trust or such other Loan Document.

  

	8.	BORROWER’S LIABILITY. 

  

	 	8.1	Limitation. Except as otherwise provided in this Section 8, Lender’s recovery against Borrower under this Note and the other Loan Documents shall be limited
solely to the Property and the Collateral. 

  

	 	8.2	Exceptions. Nothing contained in Section 8.1 or elsewhere in this Note or the other Loan Documents, however, shall limit in any way the personal liability of
Borrower owed (except that there shall be no recourse under any circumstances to the direct or indirect constituent partners, members, shareholders, directors or officers of Borrower) to Lender (a) for any losses or damages incurred by Lender
(including, without limitation, any impairment of Lender’s security for the Loan) with respect to any of the following matters: (i) fraud or willful misrepresentation; (ii) intentional material physical waste of the Property or the
Collateral; (iii) failure to pay property or other taxes, assessments or charges (other than amounts paid to Lender for taxes, assessments or charges pursuant to Impounds as defined in Exhibit A and where Lender elects not to apply
such funds toward payment of the taxes, assessments or charges owed) when due to the extent that they create liens senior to the lien of the Deed of Trust on all or any portion of the Property; (iv) failure to deliver any insurance or
condemnation proceeds or awards or any security deposits received by Borrower to Lender or to otherwise apply such sums as required under the terms of the Loan Documents or any other instrument now or hereafter securing this Note; (v) failure
to apply any rents, royalties, accounts, revenues, income, issues, profits and other benefits from the Property which are collected or received by Borrower during the period of any Default or after acceleration of the indebtedness and other sums
owing under the Loan Documents to the payment of either (A) such indebtedness or other sums, (B) the normal and necessary operating expenses of the Property (C) as otherwise provided under the Loan Documents; or (vi) any breach
by Borrower of any covenant in this Note or in the Deed of Trust regarding Hazardous Materials (as defined in the Deed of Trust) or any representation or warranty of Borrower regarding Hazardous Materials proving to have been untrue when
made; (b) in the event the Property or the Collateral shall become an asset in (i) a voluntary bankruptcy or insolvency proceeding or (ii) involuntary bankruptcy or insolvency proceeding (other than one filed by Lender) which is not
dismissed within 90 days of filing; (c) in the event of a Default resulting from a Prohibited Property Transfer (as defined in the Deed of Trust) or a Prohibited Equity Transfer (as defined in the Deed of Trust); (d) any fraud or willful
misrepresentation of Borrower regarding the Ground Lease (as defined in the Deed of Trust) proving to have been untrue when made; (e) any termination (other than in accordance with its terms), surrender, amendment, restatement, modification or
subordination of the Ground Lease having occurred, without, in each case, Lender’s prior written consent; or (f) in the event of a Default resulting from Borrower’s breach of any covenant contained in Section 3.1,
Section 3.2, Section 3.4, Section 3.5 or Section 3.6 of Exhibit A hereto. 

  

	 	8.3	No Release or Impairment. Nothing contained in Section 8.1 shall be deemed to release, affect or impair the indebtedness evidenced by this Note or the obligations
of Borrower under, or the liens and security interests created by the Loan Documents, or Lender’s rights to enforce its remedies under this Note and the other Loan Documents, including, without limitation, the right to pursue any remedy for
injunctive or other equitable relief, or any suit or action in connection with the preservation, enforcement or foreclosure of the liens, mortgages, assignments and security interests which are now or at any time hereafter security for the payment
and performance of all obligations under this Note or the other Loan Documents. 

  

	 	8.4	Prevail and Control. The provisions of this Section 8 shall prevail and control over any contrary provisions elsewhere in this Note or the other Loan Documents.

  

 5 

	9.	NON-TRUSTOR BORROWER. If any Borrower is not also a Trustor (as defined in the Deed of Trust), such Borrower hereby makes all representations and warranties contained
in Article 5 of the Deed of Trust, all covenants contained in Section 6.15 of the Deed of Trust, and all indemnities contained in Section 6.19 of the Deed of Trust, jointly and severally with the Trustor, to and for the benefit of
Beneficiary and Beneficiary Group (both as defined in the Deed of Trust). 

  

	10.	MISCELLANEOUS. 

  

	 	10.1	Joint and Several Liability. If this Note is executed by more than one person or entity as Borrower, the obligations of each such person or entity shall be joint and
several. No person or entity shall be a mere accommodation maker, but each shall be primarily and directly liable hereunder. 

  

	 	10.2	Waiver of Presentment. Except as otherwise provided in any other Loan Document, Borrower hereby waives presentment, demand, notice of dishonor, notice of default or
delinquency, notice of intent to accelerate, notice of acceleration, notice of nonpayment, notice of costs, expenses or losses and interest thereon, and notice of interest on interest and late charges. 

  

	 	10.3	Delay In Enforcement. No previous waiver or failure or delay by Lender in acting with respect to the terms of this Note or the Deed of Trust shall constitute a waiver
of any breach, default or failure of condition under this Note, the Deed of Trust or the obligations secured thereby. A waiver of any term of this Note, the Deed of Trust or of any of the obligations secured thereby must be made in writing signed by
Lender, shall be limited to the express terms of such waiver, and shall not constitute a waiver of any subsequent obligation of Borrower. The acceptance at any time by Lender of any past-due amount shall not be deemed to be a waiver of the right to
require prompt payment when due of any other amounts then or thereafter due and payable. 

  

	 	10.4	Time of the Essence. Time is of the essence with respect to every provision hereof. 

  

	 	10.5	Governing Law. This Note was accepted by Lender in the state of California and the proceeds of this Note were disbursed from the state of California, which state the
parties agree has a substantial relationship to the parties and to the underlying transaction embodied hereby. Accordingly, in all respects, including, without limiting the generality of the foregoing, matters of construction, validity,
enforceability and performance, this Note, the Deed of Trust and the other Loan Documents and the obligations arising hereunder and thereunder shall be governed by, and construed in accordance with, the laws of the state of California applicable to
contracts made and performed in such state and any applicable law of the United States of America, except that at all times the provisions for the enforcement of the lien created by the Deed of Trust securing this Note and the creation, perfection
and enforcement of the security interests created pursuant thereto and pursuant to the other Loan Documents shall be governed by and construed according to the law of the state where the Property is located. Except as provided in the immediately
preceding sentence, Borrower hereby unconditionally and irrevocably waives, to the fullest extent permitted by law, any claim to assert that the law of any jurisdiction other than California governs the Deed of Trust, this Note and the other Loan
Documents. 

  

	 	10.6	Consent to Jurisdiction. Borrower irrevocably submits to the jurisdiction of: (a) any state or federal court sitting in the state of California over any suit,
action, or proceeding, brought by Borrower against Lender, arising out of or relating to this Note or the Loan evidenced hereby; (b) any state or federal court sitting in the state where the Property is located or the state in which
Borrower’s principal place of business is located over any suit, action or proceeding, brought by Lender against Borrower, arising out of or relating to this Note or the Loan evidenced hereby; and (c) any state court sitting in the county
of the state where the Property is located over any suit, action, or proceeding to foreclose the lien of the Deed of Trust or any action brought by the Lender to enforce its rights with respect to the Collateral. Borrower irrevocably waives, to the
fullest extent permitted by law, any objection that Borrower may now or hereafter have to the laying of venue of any such suit, action, or proceeding brought in any such court and any claim that any such suit, action, or proceeding brought in any
such court has been brought in an inconvenient forum. 

  

	 	10.7	Counterparts. This Note may be executed in any number of counterparts, each of which when executed and delivered shall be deemed an original and all of which taken
together shall be deemed to be one and the same Note. 

  

 6 

	 	10.8	Heirs, Successors and Assigns. All of the terms, covenants, conditions and indemnities contained in this Note and the other Loan Documents shall be binding upon the
heirs, successors and assigns of Borrower and shall inure to the benefit of the successors and assigns of Lender. The foregoing sentence shall not be construed to permit Borrower to assign the Loan except as otherwise permitted in this Note or the
other Loan Documents. 

  

	 	10.9	Severability. If any term of this Note, or the application thereof to any person or circumstances, shall, to any extent, be invalid or unenforceable, the remainder of
this Note, or the application of such term to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each term of this Note shall be valid and enforceable to the fullest extent
permitted by law. 

  

	 	10.10	Consents and Approvals. Wherever Lender’s consent, approval, acceptance or satisfaction is required under any provision of this Note or any of the other Loan
Documents, such consent, approval, acceptance or satisfaction shall not be unreasonably withheld, conditioned or delayed by Lender unless such provision expressly so provides. 

  

	 	10.11	Notices. All notices and other communications that are required or permitted to be given to a party under this Note shall be in writing and shall be sent to such
party, either by personal delivery, by overnight delivery service, by certified first class mail, return receipt requested, or by facsimile transmission to the address or facsimile number below. All such notices and communications shall be effective
upon receipt of such delivery or facsimile transmission. The addresses and facsimile numbers of the parties shall be: (with copies as set forth in Section 15 below) 

  

			
	 Borrower:
	  	Lender:
	 KBS CRESCENT GREEN, LLC
	  	Wells Fargo Bank, N.A.
	 c/o KBS REIT ACQUISITION IX, LLC
	  	1320 Willow Pass Road, Suite 205
	 620 Newport Center Drive, Suite 1300
	  	Concord, CA 94520
	 Newport Beach, CA 92660
	  	Loan No. 31-0905749
	 FAX No.: (949) 417-6518
	  	FAX No.: (925) 691-5249

  

	 	10.12	Exhibits. Exhibits A and B attached hereto are incorporated herein by this reference. 

  

	11.	PREPAYMENT—DEFEASANCE ONLY. Borrower acknowledges that any prepayment of this Note will cause Lender to lose its interest rate yield on this Note and will
possibly require that Lender reinvest any such prepayment amount in loans of a lesser interest rate yield (including, without limitation, in debt obligations other than first mortgage loans on commercial properties). As a consequence, Borrower
agrees as follows, as an integral part of the consideration for Lender’s making the Loan: 

  

	 	11.1	Voluntary Prepayment. Any voluntary prepayment of this Note: (a) is prohibited during the Prepayment Lockout Period, and (b) is permitted in full only, and
not in part. 

  

	 	11.2	Prepayment Charge. 

  

	 	a.	 Basic Charge. Except as provided below, if this Note is prepaid prior to the Open Period Start Date, whether such prepayment is involuntary or upon
acceleration of the principal amount of this Note by Lender following a Default, Borrower shall pay to Lender on the prepayment date (in addition to all other sums then due and owing to Lender under the Loan Documents) a prepayment charge equal to
the greater of the following two amounts: (i) an amount equal to 1% of the amount prepaid; or (ii) an amount equal to (A) the amount, if any, by which the sum of the present values as of the prepayment date of all unpaid principal and
interest payments required under this Note, calculated by discounting such payments from their respective Due Dates (or, with respect to the payment required on the Maturity Date, from the Maturity Date) back to the prepayment date at a discount
rate equal to the Periodic Treasury Yield (defined below) exceeds the outstanding principal balance of the Loan as of the prepayment date, multiplied by (B) a fraction whose numerator is the amount prepaid and whose denominator is the
outstanding principal balance of the Loan as of the prepayment date. For purposes of the foregoing, “Periodic Treasury Yield” means (iii) the annual yield to maturity of the actively traded non-callable United States Treasury fixed
interest rate security (other than any such security which can be surrendered at the option of the holder at face value in payment of federal estate tax or which was issued at a substantial discount) that has a maturity closest to (whether before,
on or after) the Maturity Date (or if two or more such securities have maturity dates equally close to the Maturity Date, the 

  

 7 

	 	 
average annual yield to maturity of all such securities), as reported in The Wall Street Journal or other authoritative publication or news retrieval service
on the fifth Business Day preceding the prepayment date, divided by (iv) 12. 

  

	 	b.	Additional Charge. If this Note is prepaid on any day other than a Due Date, whether such prepayment is voluntary, involuntary or upon full acceleration of the principal
amount of this Note by Lender following a Default, Borrower shall pay to Lender on the prepayment date (in addition to the basic prepayment charge described in Section 11.2 a above and all other sums then due and owing to Lender under this
Note and the other Loan Documents) an additional prepayment charge equal to the interest which would otherwise have accrued on the amount prepaid (had such prepayment not occurred) during the period from and including the prepayment date to and
including the last day of the calendar month in which the prepayment occurred. 

  

	 	c.	Exclusion. Notwithstanding the foregoing, no prepayment charge of any kind shall apply in respect to any prepayment resulting from Lender’s application of any insurance
proceeds or condemnation awards to the outstanding principal balance of the Loan. 

  

	 	11.3	Effect of Prepayment. No partial prepayment of this Note shall change any Due Date or the Interest Only Payment Amount, unless Lender otherwise agrees in writing.

  

	 	11.4	Waiver. Borrower waives any right to prepay this Note except under the terms and conditions set forth in this Section 11 and agrees that if this Note is prepaid,
Borrower shall pay the prepayment charge set forth above. Borrower hereby acknowledges that: (a) the inclusion of this waiver of prepayment rights and agreement to pay the prepayment charge for the right to prepay this Note was separately
negotiated with Lender; (b) the economic value of the various elements of this waiver and agreement was discussed; (c) the consideration given by Borrower for the Loan was adjusted to reflect the specific waiver and agreement negotiated
between Borrower and Lender and contained herein; and (d) this waiver is intended to comply with California Civil Code Section 2954.10. 

 Borrower’s Initials:                      
  

	12.	DEFEASANCE-FULL. 

  

	 	12.1	Borrower Right to Defease. At any time during the Defeasance Option Period, Borrower may elect to effect a Defeasance in accordance with the provisions of this
Section 12, at Borrower’s sole cost and expense. 

  

	 	12.2	Conditions. Borrower shall only have the right to cause a Defeasance if all of the following conditions have been satisfied: 

  

	 	a.	Notice. Borrower shall give at least 60 days but not more than 90 days written notice to Lender specifying the Borrower’s intended Defeasance Date. Simultaneously with
the delivery of such notice, Borrower shall deposit with Lender an amount estimated by Lender to be sufficient to reimburse Lender’s anticipated expenses in connection with the Defeasance, for which Borrower shall be solely responsible whether
or not the Defeasance shall be completed. If any such notice shall have been given by Borrower, Borrower shall be obligated to complete the Defeasance on the Defeasance Date, unless such notice is revoked in writing by Borrower prior to the
Defeasance Date. Upon completion of the Defeasance or revocation by Borrower as specified above, Lender shall return any surplus deposit to Borrower; 

  

	 	b.	No Default. No Default shall exist or would exist with notice or passage of time, or both, either on the date of receipt of Borrower’s notice under
Section 12.2 a above or on the Defeasance Date; 

  

	 	c.	Payments. Borrower shall pay in full, on or before the Defeasance Date (i) all unpaid interest accruing under this Note to and including the Defeasance Date (or
otherwise cause Successor Borrower to assume liability for such interest), (ii) all other sums due under this Note and the other Loan Documents on or before the Defeasance Date, (iii) all escrow, closing, recording, legal, appraisal,
Rating Agency and other fees, costs and expenses paid or incurred by Lender or its agents in connection with the Defeasance, the release of the lien of the Deed of Trust on the Property, the review of the proposed Defeasance Collateral and the
preparation of the Defeasance Security Agreements and related documentation, and (iv) any revenue, documentary stamp, intangible or other taxes, charges or fees due in connection with the transfer or assumption of this Note or the Defeasance;

  

 8 

	 	d.	Deliveries. Borrower shall, at Borrower’s sole cost and expense, deliver the following items to Lender on or before the Defeasance Date: 

  

	 	(i)	The Defeasance Collateral, as substitute collateral for the Loan, provided, however, the principal and interest payments under the Defeasance Collateral (without regard to earnings
from reinvestment of proceeds) must be, in timing and amounts, sufficient to provide for payment prior, but as close as possible, to (A) all Due Dates occurring after the Defeasance Date, with each such payment being equal to or greater than
the amount of the corresponding Interest Only Payment Amount and (B) the Maturity Date (with such payment being equal to or greater than the amount of the principal and interest payment due on the Maturity Date); and provided further, however,
that Borrower shall take such actions, enter such agreements and issue such orders or directions (including those specified below), as are necessary or appropriate and in accordance with customary commercial standards to effectuate book-entry
transfers and pledges through the book-entry facilities of the institution holding the Defeasance Collateral or otherwise to create and perfect a valid, enforceable, first priority security interest in the Defeasance Collateral in favor of Lender;

  

	 	(ii)	The Defeasance Security Agreements creating, attaching and perfecting a first priority security interest in favor of Lender in the Defeasance Collateral under the law of the
jurisdiction selected by Lender, which agreements shall provide, among other things, that all payments generated by the Defeasance Collateral shall be paid directly to Lender and applied by Lender to amounts then due and payable under this Note;

  

	 	(iii)	A certificate of Borrower certifying that all of the requirements of this Section 12 have been satisfied; 

  

	 	(iv)	Opinions of counsel for Borrower, addressed to Lender and all Rating Agencies and delivered by counsel satisfactory to Lender, subject only to customary assumptions, qualifications
and exceptions, stating, among other things, that (A) Lender has a perfected first priority security interest in the Defeasance Collateral, (B) the Defeasance Security Agreements are enforceable against Borrower in accordance with their
terms and (C) any REMIC that holds this Note immediately prior to the Defeasance Date will not, as a result of the Defeasance, fail to maintain its status as a REMIC; 

  

	 	(v)	A certificate, addressed to Lender and all Rating Agencies, from a firm of independent certified public accountants acceptable to Lender, subject only to customary assumptions,
qualifications and exceptions, certifying that the Defeasance Collateral satisfies the requirements of Section 12.2 d(i) above and certifying that in no fiscal year of Successor Borrower will the interest earned on the Defeasance
Collateral exceed the interest payable for the same period on the Loan under this Note; 

  

	 	(vi)	If this Note is held by a REMIC, written evidence from all of the Rating Agencies that the Defeasance will not result in a downgrading, withdrawal or qualification of the respective
ratings in effect immediately prior to the Defeasance for any securities representing interests in such REMIC which are then outstanding; and 

  

	 	(vii)	Such other certificates, opinions, documents or instruments as are customary in commercial mortgage defeasance transactions to effect the Defeasance. 

  

	 	e.	Release of Lien. Upon satisfaction of all conditions specified in this Section 12, the Property and the Collateral shall be released from the lien of the Deed of Trust
and the other Loan Documents, and the Defeasance Collateral and the proceeds thereof shall constitute the only collateral securing the obligations of Borrower under this Note and the other Loan Documents. Lender shall, at Borrower’s expense,
prepare, execute and deliver any instruments reasonably necessary to release the lien of the Deed of Trust from the Property and the Collateral. Lender will cooperate with Borrower in structuring the defeasance such that the securities selected by
Borrower can be held by a trust or other entity in which Lender is the beneficiary, provided that the same satisfies the requirements of all Rating Agencies and all REMIC requirements for the defeasance. 

  

 9 

	 	f.	Assignment and Assumption. In connection with the Defeasance, Borrower shall, at the request of Lender, assign all of its right, title and interest in and to the pledged
Defeasance Collateral and all its obligations and rights under this Note and the Defeasance Security Agreements to Successor Borrower. Successor Borrower shall execute an assumption agreement in form and substance customary in commercial mortgage
defeasance transactions, pursuant to which it shall assume Borrower’s obligations under this Note and the Defeasance Security Agreements. As conditions to such assignment and assumption, Borrower shall (i) deliver to Lender opinions of
counsel addressed to Lender and all Rating Agencies, in form and substance customary in commercial Defeasance transactions and delivered by counsel satisfactory to Lender, and subject only to customary assumptions, qualifications and exceptions,
stating, among other things, that such assumption agreement is enforceable against Borrower and Successor Borrower in accordance with its terms and that this Note and the Defeasance Security Agreements, as so assumed, are enforceable against
Successor Borrower in accordance with their respective terms, and that the bankruptcy of any affiliate of Successor Borrower will not affect the assets of Successor Borrower; and (ii) pay all costs and expenses incurred by Lender or its agents
in connection with such assignment and assumption (including, without limitation, the formation or review of Successor Borrower and the preparation of the assumption agreement and related documentation). Upon such assumption by Successor Borrower,
Borrower shall be relieved of its obligations under this Note, the Defeasance Security Agreements and the other Loan Documents other than (iii) representations and warranties made in connection with the Defeasance, (iv) the obligation to
effect the Defeasance in accordance with this Section 12, and to provide further assurances as necessary to do so, (v) liability for losses to Lender resulting from an avoidance, rescission or set-aside of the Defeasance as a result of
actions taken or suffered by Borrower, and (vi) those obligations which are specifically intended to survive the repayment of the Loan or other termination, satisfaction or assignment of this Note, the Defeasance Security Agreements or the
other Loan Documents or Lender’s exercise of its rights and remedies under any of such documents and instruments. 

 13. WAIVER OF
JURY TRIAL. TO THE EXTENT NOW OR HEREAFTER PERMITTED BY APPLICABLE LAW, LENDER AND BORROWER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING
OUT OF, UNDER, OR IN CONNECTION WITH, THIS NOTE OR ANY OTHER LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF LENDER OR BORROWER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR LENDER TO
MAKE THE LOAN TO BORROWER. 
 14. PERMITTED REIT DISTRIBUTIONS. Borrower’s right to make Permitted REIT Distributions shall be subject
to the following terms and conditions. At least 14 days prior to the end of the then current Projection Period (as defined below), Borrower shall deliver to Lender: (a) written notice setting forth an estimate of the REIT’s taxable income
for the Property and the Permitted REIT Operating Expenses (the “REIT Distribution Notice”) for the immediate succeeding period of no less than one fiscal quarter and no more than one fiscal year (each, a “Projection Period”),
which REIT Distribution Notice shall also set forth the amount of cash flow from the Property needed to make Permitted REIT Distributions related to such Projection Period, and (b) written confirmation from Ernst & Young or another
“Big 4” accounting firm that the estimate of the REIT’s taxable income generated by the Property for the applicable Projection Period, as reflected in the REIT Distribution Notice, is a reasonable estimate of the same, all in form and
substance reasonably acceptable to Lender. Such estimate shall be based on (1) the REIT’s actual taxable income for the Property and the actual Permitted REIT Operating Expenses for the then current calendar year and (2) the
REIT’s projected taxable income for the Property and the projected Permitted REIT Operating Expenses for the remainder of such calendar year. Within 30 days following the end of each fiscal quarter, Borrower shall deliver to Lender a statement
of the REIT’s actual taxable income for the Property and the actual Permitted REIT Operating Expenses for the immediately ended fiscal quarter and evidence supporting such statement and (A) if the Permitted REIT Distributions made for such
fiscal quarter exceeded the estimate set forth in the REIT Distribution Notice applicable to such fiscal quarter, the estimate of the Permitted REIT Distributions for the immediately succeeding fiscal quarter shall be adjusted to reduce the
estimated amount of the Permitted REIT Distributions by the amount of such excess and (B) if the Permitted REIT Distributions made for such fiscal quarter was less than the estimate set forth in the REIT Distribution Notice applicable to such
fiscal quarter, the estimate of the Permitted REIT Distributions for the immediately succeeding fiscal quarter shall be adjusted to increase the estimated amount of the Permitted REIT Distributions by the amount of such shortfall. Notwithstanding
anything stated to the contrary in this Note (including the provisions of Exhibit A attached hereto), Lender acknowledges and agrees that, at all times prior to the Maturity Date, the funding of all reserves and other amounts are expressly
subject to the provisions permitting disbursement to Borrower of Permitted REIT Distributions as provided herein. 
  

 10 

	15.	ADDITIONAL NOTICES. Copies of any notice to the Borrower shall also be sent to the following persons in the same manner as set forth in Section 10.11 above:

  

			
	Stacie Yamane	  	Peter Potrykus
	KBS Realty Advisors LLC	  	KBS Capital Advisors LLC
	620 Newport Center Drive, Suite 1300	  	1133 21st Street NW, Suite 400
	Newport Beach, CA 92660	  	Washington, DC 20036
	FAX No.: (949) 417-6520	  	FAX No.: (202) 822-1340

 L. Bruce Fischer 
 Morgan, Lewis & Bockius LLP 
 5 Park Plaza, Suite 1750 
 Irvine, CA 92614 
 FAX No.: (949) 399-7001 
  

 11 

			
	PROMISSORY NOTE SECURED BY DEED OF TRUST	  	

 “BORROWER” 
  

															
	KBS CRESCENT GREEN, LLC,
	a Delaware limited liability company
		
	By:	 	KBS REIT ACQUISITION IX, LLC,
		 	a Delaware limited liability company, its sole member
			
		 	By:	 	KBS LIMITED PARTNERSHIP,
		 		 	a Delaware limited partnership, its sole member
				
		 		 	By:	 	KBS REAL ESTATE INVESTMENT TRUST, INC.,
		 		 		 	a Maryland corporation, general partner
					
		 		 		 	By:	 	 /s/ Charles J. Schreiber, Jr.

		 		 		 		 	Charles J. Schreiber, Jr.
		 		 		 		 	Chief Executive Officer

 Loan No. 31-0905749 
 EXHIBIT A TO PROMISSORY NOTE 
 Additional Terms And Conditions 
 This Exhibit A is attached to and forms a part of that Promissory Note (“Note”) executed by KBS CRESCENT GREEN, LLC, a Delaware limited liability
company (“Borrower”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Lender”). 
  

	1.	DISBURSEMENT OF LOAN PROCEEDS; LIMITATION OF LIABILITY. Borrower hereby authorizes Lender to disburse the proceeds of the Loan, after deducting any and all fees owed
by Borrower to Lender in connection with the Loan, to Chicago Title Company. With respect to such disbursement, Borrower understands and agrees that Lender does not accept responsibility for errors, acts or omissions of others, including, without
limitation, the escrow company, other banks, communications carriers or clearinghouses through which the transfer of Loan proceeds may be made or through which Lender receives or transmits information, and no such entity shall be deemed
Lender’s agent. As a consequence, Lender shall not be liable to Borrower for any actual (whether direct or indirect), consequential or punitive damages which may arise with respect to the disbursement of Loan proceeds, whether or not
(a) any claim for such damages is based on tort or contract, or (b) either Lender or Borrower knew or should have known of the likelihood of such damages in any situation. 

  

	2.	FINANCIAL STATEMENTS. 

  

	 	2.1	Statements Required. During the term of the Loan and while any liabilities of Borrower to Lender under any of the Loan Documents remain outstanding and unless Lender
otherwise consents in writing, Borrower shall provide to Lender the following: 

  

	 	a.	Operating Statement. Not later than 10 days after and as of the end of each calendar month during the period prior to any sale of the Loan, and thereafter not later than
30 days after and as of the end of each calendar quarter, an operating statement, signed and dated by Borrower, showing all revenues and expenses during such month or quarter and year-to-date, relating to the Property, including, without
limitation, all information requested under any of the Loan Documents; 

  

	 	b.	Rent Roll. Not later than 10 days after and as of the end of each calendar month during the period prior to any sale of the Loan, and thereafter not later than
30 days after and as of the end of each calendar quarter, a rent roll signed and dated by Borrower, showing the following lease information with regard to each tenant: the name of the tenant, monthly or other periodic rental amount, dates of
commencement and expiration of the lease, and payment status; 

  

	 	c.	Balance Sheet. If requested by Lender, not later than 90 days after and as of the end of each fiscal year, a balance sheet, signed and dated by Borrower, showing all
assets and liabilities of Borrower; and 

  

	 	d.	Other Information. From time to time, upon Lender’s delivery to Borrower of at least 10 days’ prior written notice, such other information with regard to
Borrower, principals of Borrower, guarantors or the Property as Lender may reasonably request in writing. 

  

	 	2.2	Form; Warranty. Borrower agrees that all financial statements to be delivered to Lender pursuant to Section 2.1 shall: (a) be complete and correct;
(b) present fairly the financial condition of the party; (c) disclose all liabilities that are required to be reflected or reserved against; and (d) be prepared in accordance with the same accounting standard used by Borrower to
prepare the financial statements delivered to and approved by Lender in connection with the making of the Loan or other accounting standards acceptable to Lender. Borrower shall be deemed to warrant and represent that, as of the date of delivery of
any such financial statement, there has been no material adverse change in financial condition, nor have any assets or properties been sold, transferred, assigned, mortgaged, pledged or encumbered since the date of such financial statement except as
disclosed by Borrower in a writing delivered to Lender. Borrower agrees that all rent rolls and other information to be delivered to Lender pursuant to Section 2.1 shall not contain any misrepresentation or omission of a material fact.

  

 EXHIBIT A 
 1 

	3.	IMPOUNDS. 

  

	 	3.1	Tax Impound. Borrower shall deposit with Lender the following amounts (collectively, “Tax Impound”): Upon the occurrence of a Default, and on each Due Date
thereafter during the continuance of a Default, an amount estimated from time to time by Lender in its sole discretion to be sufficient to pay the taxes, assessments and other liabilities payable by Borrower under Section 6.9 of the Deed of
Trust (“Taxes”) at least 45 days prior to each date on which Taxes become delinquent (“Delinquency Date”). If Lender determines at any time while a Default exists that the Tax Impound, if any, will not be sufficient to pay
any Taxes at least 45 days prior to the Delinquency Date, Lender shall notify Borrower of such determination and Borrower shall deposit with Lender the amount of such deficiency not more than 10 days after Borrower’s receipt of such
notice; provided, however, if Borrower receives notice of any such deficiency less than 45 days prior to the Delinquency Date, Borrower shall deposit the amount of such deficiency with Lender not more than 3 Business Days after Borrower’s
receipt of such notice but in no event later than the Business Day immediately preceding the Delinquency Date. 

  

	 	3.2	Insurance Impound. Borrower shall deposit with Lender the following amounts (collectively, “Insurance Impound”): Upon the occurrence of a Default and on each
Due Date thereafter during the continuance of a Default, an amount estimated from time to time by Lender in its sole discretion to be sufficient to pay the premiums for insurance required to be maintained by Borrower under Section 6.10 of the
Deed of Trust (“Insurance Premiums”) at least 45 days prior to the date on which the current such insurance policies expire (“Insurance Expiration Date”). If Lender determines at any time while a Default exists that the Insurance
Impound, if any, will not be sufficient to pay the Insurance Premiums at least 45 days prior to the Insurance Expiration Date, Lender shall notify Borrower of such determination and Borrower shall deposit with Lender the amount of such deficiency
not more that 10 days after Borrower’s receipt of such notice; provided, however, if Borrower receives notice of any such deficiency less than 45 days prior to the Insurance Expiration Date, Borrower shall deposit the amount of such deficiency
with Lender not more than 3 Business Days after Borrower’s receipt of such notice but in no event later than the day immediately preceding the Insurance Expiration Date. 

  

	 	3.3	[Intentionally Omitted]. 

  

	 	3.4	General TI Impound. Borrower shall deposit with Lender the following amounts (collectively, “General TI Impound”): Upon the occurrence and during the
continuance of a Default, an amount equal to $25,900, multiplied by the number of months between the Disbursement Date and the date of the Default, and $25,900 on each Due Date thereafter so long as a Default exists for tenant improvements, leasing
commissions and other leasing costs (collectively, “Leasing Costs”) that may be required for new or renewal tenants in the Property. Following Borrower’s cure of the Default creating the General TI Impound, Lender shall disburse all
funds from the General TI Impound to Borrower During the continuance of a Default, Lender shall disburse funds from the General TI Impound to Borrower monthly, on a space by space basis. The portion of the General TI Impound to be disbursed with
respect to any space (“General TI Impound Allocation”) shall equal an amount determined by multiplying the total number of rentable square feet contained in such space by $15.00. Lender shall disburse funds from the General TI Impound
Allocation for any space upon Lender’s receipt and approval of each of the following with respect to such space: 

  

	 	a.	Borrower’s written request for such disbursement, including the name of the tenant and the location and total net rentable square feet contained in such space;

  

	 	b.	a complete copy of a fully executed new lease of such space or a renewal or extension of the current lease of such space for a term of not less than three years at market rent,
certified by Borrower to be such; 

  

	 	c.	with respect to any disbursement which, when added to all prior disbursements, is 90% or less of the original General TI Impound Allocation for such space: 

 

	 	(i)	a reasonably detailed description and cost breakdown of the Leasing Costs to be paid or reimbursed from the disbursement (“Cost Breakdown”); 

  

 EXHIBIT A 
 2 

	 	(ii)	Borrower’s certification that: 

	 	A.	the Cost Breakdown is accurate to Borrower’s actual knowledge, after reasonable investigation and inquiry of the contractor, and all tenant improvements shown in the Cost
Breakdown have been completed lien-free, in a workmanlike manner and in accordance with the requirements of the lease and all laws; 

  

	 	B.	Borrower has actually paid or incurred the Leasing Costs to be paid or reimbursed from the disbursement; and 

  

	 	(iii)	if required by Lender, such other evidence as may be reasonably necessary to verify the current accuracy of the certification and any inspection report, the costs of which shall be
paid by Borrower; and 

  

	 	d.	with respect to any disbursement which, when added to all prior disbursements, is more than 90% of the original General TI Impound Allocation for such space:

  

	 	(i)	a current estoppel certificate executed jointly and severally by the tenant of the space and Borrower which shall include, without limitation, their acknowledgment that:

  

	 	A.	the lease is in full force and effect and neither Borrower nor the tenant is in default thereunder; 

  

	 	B.	all tenant improvements required under the lease have been satisfactorily completed; 

  

	 	C.	all conditions to the tenant’s occupancy of the space and the payment of rent have been satisfied; and 

  

	 	D.	the tenant is in actual occupancy of and conducting business in the space; and 

  

	 	(ii)	if required by Lender, such other evidence as may be reasonably necessary to verify the current accuracy of the estoppel certificate, the costs of which shall be paid by Borrower.

  

	3.5	Springing TI Impound. 

  

	 	a.	Deposit. Upon notice from ACS to Borrower that ACS has elected to exercise its early termination option under the 1200 Lease, Borrower shall deposit with Lender
(“Springing TI Impound”) the aggregate sum of $1,150,000. The Springing TI Impound shall be payable in equal monthly installments with the first installment being payable upon the first Due Date following notice from ACS of its exercise of
the early termination option under the 1200 Lease, and the last monthly installment being the Due Date for the month in which the 1200 Lease terminates. Borrower shall promptly notify Lender of ACS’ election to exercise its early termination
option. 

  

	 	b.	Disbursement. The Springing TI Impound shall be for tenant improvements, leasing commissions and other leasing costs (collectively, “Leasing Costs”) that may
be required for new tenants of the space currently subject to the 1200 Lease. So long as no Default exists, Lender shall disburse funds from the Springing TI Impound to Borrower monthly in an amount determined by multiplying the total number of
rentable square feet contained in the space being re-leased by $15.00. Lender shall disburse funds from the Springing TI Impound upon Lender’s receipt and approval of each of the following with respect to such space: 

 

	 	(i)	Borrower’s written request for such disbursement, including the name of the tenant and the location and total net rentable square feet contained in such space;

  

	 	(ii)	a complete copy of a fully executed new lease of such space for a term of not less than three years at market rent, certified by Borrower to be such; 

  

	 	(iii)	with respect to any disbursement which, when added to all prior disbursements, is 90% or less of the original Springing TI Impound: 

  

	 	A.	a reasonably detailed description and cost breakdown of the Leasing Costs to be paid or reimbursed from the disbursement (“Cost Breakdown”); 

  

	 	B.	Borrower’s certification that: 

  

	 	(1)	the Cost Breakdown is accurate to Borrower’s actual knowledge, after reasonable investigation and inquiry of the contractor, and all tenant improvements shown in the Cost
Breakdown have been or will be completed lien-free, in a workmanlike manner and in accordance with the requirements of the lease and all laws; and 

  

 EXHIBIT A 
 3 

	 	(2)	Borrower has actually paid or incurred the Leasing Costs to be paid or reimbursed from the disbursement; and 

  

	 	C.	if required by Lender, such other evidence as may be reasonably necessary to verify the current accuracy of the certification and any inspection report, the costs of which shall be
paid by Borrower; and 

  

	 	(iv)	with respect to any disbursement which, when added to all prior disbursements, is more than 90% of the original Springing TI Impound: 

  

	 	A.	a current estoppel certificate executed jointly and severally by the tenant of the space and Borrower which shall include, without limitation, their acknowledgment that:

  

	 	(1)	the lease is in full force and effect and neither Borrower nor the tenant is in default thereunder; 

  

	 	(2)	all tenant improvements required under the lease have been satisfactorily completed; 

  

	 	(3)	all conditions to the tenant’s occupancy of the space and the payment of rent have been satisfied; and 

  

	 	(4)	the tenant is in actual occupancy of and conducting business in the space; and 

  

	 	B.	if required by Lender, such other evidence as may be reasonably necessary to verify the current accuracy of the estoppel certificate, the costs of which shall be paid by Borrower.

  

	 	c.	Release. If the space subject to the 1200 Lease is completely re-leased in accordance with the provisions of this Section 3.5, then so long as no Default exists,
all remaining funds in the Springing TI Impound shall be released to Borrower upon Lender’s receipt of Borrower’s written request for such disbursement. 

  

	3.6	Capital Expenditures Impound. Borrower shall deposit with Lender the following amounts (collectively, “Capital Expenditures Impound”): Upon the occurrence of
a Default, an amount equal to $4,147, multiplied by the number of months between the Disbursement Date and the date of the Default, and $4,147 on each Due Date thereafter so long as a Default exists for payment or reimbursement of the Capital
Expenditures (defined below. Following Borrower’s cure of the Default creating the Capital Expenditures Impound, Lender shall disburse all funds from the Capital Expenditures Impound to Borrower. 

 “Capital Expenditures” shall mean major repairs and replacements to maintain or improve the Property, including, without limitation, structural
repairs, roof replacements, HVAC repairs and replacements, mechanical and plumbing repairs and replacements and boiler repair and replacements. 
  

	3.7	Cash Management. Borrower shall enter into that certain Cash Management Agreement (Springing Hard) dated as of even date herewith among Borrower, Lender, as
“Lender”, and Lender, as “Depository,” which shall govern the collection and disbursement of all Gross Income (as defined in the Cash Management Agreement) during a Cash Management Period. 

  

	3.8	Disbursement. Lender shall disburse any Impounds to Borrower through a funds transfer of such Impounds initiated by Lender to the following account or such other
account as Borrower specifies in a notice to Lender: 

  

					
	 Bank Name:
	 	  
	 	
	 ABA Routing No.:
	 	  
	 	
	 Account Name:
	 	  
	 	
	 Reference:
	 	  
	 	
	 Advise:
	 	  
	 	

 Lender shall determine the funds transfer system and other means to be used in making each such
disbursement. Borrower agrees that each such funds transfer initiated by Lender shall be deemed to be a funds transfer properly authorized by Borrower, even if the transfer is not actually properly authorized by Borrower. Borrower acknowledges that
Lender shall rely on the account number and ABA routing number set forth above or specified in a notice from Borrower to Lender, even if such account number identifies an account with a name different from the name so specified, or the routing
number identifies a bank different from the bank so specified. If Borrower learns of any error in the transfer of any Impounds or of any transfer which was not properly authorized, Borrower shall notify Lender as soon as possible in writing but in
no case more than 14 days after Lender’s first confirmation to Borrower of such transfer. 
  

 EXHIBIT A 
 4 

	 	3.9	General. All deposits required to be made by Borrower under this Section 3 constitute Impounds (as defined in the Deed of Trust) and reference is made to the Deed
of Trust for other provisions regarding Impounds, including, without limitation, a description of the account(s) into which Impounds shall be deposited. Lender shall have the right to enter upon the Property at all reasonable times to inspect any
work for which Impounds are now or hereafter required but Lender shall not be obligated to supervise or inspect any such work or to inform Borrower or any third party regarding any aspect of any such work. Borrower shall pay to Lender all reasonable
fees, costs and expenses charged, paid or incurred by Lender from time to time in connection with any request of Borrower for a disbursement of funds from the Impounds (other than the Tax Impound and the Insurance Impound). Borrower authorizes
Lender to disburse directly to Lender, from the Impounds or from funds to be disbursed to Borrower from the Impounds, such sums as may be necessary, at any time and from time to time, to pay all such fees, costs and expenses. Notwithstanding
anything stated to the contrary in the Loan Documents (but subject to the Lender’s rights to retain a portion of the Termination Payment (as defined in the Deed of Trust) applicable to the ACS Lease, as set forth in Section 3.4.I.b of the
Deed of Trust), the funding of all Impounds and reserves required hereunder or in any of the other Loan Documents (including, without limitation, for Tax and Insurance Impounds, Deferred Maintenance, Capital Expenditure Impounds, Retenanting
Impounds, and the Springing Impound) shall be subject to Permitted REIT Distributions. 

  

	4.	TWO-TIME RIGHT OF TRANSFER OF PROPERTY. Notwithstanding anything to the contrary contained in Section 6.15 of the Deed of Trust, Lender shall, two times only,
consent to the voluntary sale or exchange of all of the Property by Trustor (as defined in the Deed of Trust) so long as no Default has occurred and is continuing and all of the following conditions precedent have been satisfied:

  

	 	4.1	Notice. Lender’s receipt of not less than 60 days’ prior written notice of the proposed sale or exchange; 

  

	 	4.2	Credit Review and Underwriting. Lender’s reasonable determination that the proposed purchaser, the proposed guarantor(s), if any, and the Property all satisfy
Lender’s then applicable credit review and underwriting standards, taking into consideration, among other things, (a) any decrease in the Property’s cash flow which would result from any increase in real property taxes due to any
anticipated reassessment of the Property for tax purposes and (b) any requirement of Lender that the purposed purchaser satisfy Lender’s then applicable criteria for a single purpose bankruptcy remote entity; 

  

	 	4.3	Experience. Lender’s reasonable determination that the proposed purchaser possesses satisfactory recent experience in the ownership and operation of properties
similar to the Property; 

  

	 	4.4	Impounds. Lender’s receipt of such new or increased Impounds as Lender may require, including, without limitation, new or increased Impounds for taxes, insurance,
tenant improvements and leasing commissions, capital improvements, capital expenditures and deferred maintenance, and the amendment of the Loan Documents to require the purchaser to make monthly deposits of such new or increased Impounds for such
purposes thereafter; 

  

	 	4.5	Documents and Instruments. Lender’s receipt of such fully executed documents and instruments as Lender shall reasonably require, in form and content reasonably
satisfactory to Lender, including, without limitation, (a) an assumption agreement under which the purchaser assumes all obligations and liabilities of Borrower under this Note and the other Loan Documents and agrees to such amendments to the
Loan Documents as Lender may reasonably require in order to reflect the change in the borrowing entity and principals and any new or increased Impounds and (b) a consent to the sale or exchange by each existing guarantors and a reaffirmation of
each guarantor’s obligations and liabilities under each guaranty or the execution of new guaranties by new guarantors reasonably satisfactory to Lender; 

  

	 	4.6	Title Insurance. If required by Lender, delivery to Lender of evidence of title insurance reasonably satisfactory to Lender insuring Lender that the lien of the Deed
of Trust and the priority thereof will not be impaired or affected by reason of such sale or exchange of the Property; 

  

	 	4.7	Assumption Fee. Payment to Lender of an assumption fee equal to 1% of the then outstanding principal balance of this Note, but not less than $15,000;

  

 EXHIBIT A 
 5 

	 	4.8	Costs and Expenses. Reimbursement to Lender of any and all costs and expenses paid or incurred by Lender in connection with such sale or exchange and Lender’s
consent thereto, including, without limitation, all in-house or outside counsel attorneys’ fees, title insurance fees, appraisal fees, inspection fees, and environmental consultant’s fees and any fees or charges of the applicable Rating
Agencies; 

  

	 	4.9	No Downgrade. If required by Lender, delivery to Lender of written evidence from the Rating Agencies that such sale or exchange will not result in a downgrading,
withdrawal or qualification of the respective ratings in effect immediately prior to the sale or exchange for any securities issued in connection with the securitization of the Loan which are then outstanding; and 

  

	 	4.10	No Adverse REMIC Event. If required by Lender, delivery to Lender of an opinion of tax counsel, in form and content and issued by tax counsel satisfactory to
Lender’s counsel, that such sale or exchange shall not (a) constitute a “significant modification” of the Loan within the meaning of Treasury Regulation Section 1.860G-2(b) or (b) cause the Loan to fail to be a
“qualified mortgage” within the meaning of Section 860G(a)(3)(A) of the Code. 

 Lender shall fully release
Borrower and each existing guarantor from any further obligation or liability to Lender under this Note and the other Loan Documents upon the assumption by the purchaser and each new guarantor of all such obligations and liabilities and the
satisfaction of all other conditions precedent to a sale or exchange in accordance with the provisions of this Section. 
  

	5.	PERMITTED MEZZANINE FINANCING. The restrictions on Transfers (as defined in the Mortgage) of ownership interests in Borrower set forth in Section 6.15 of the
Mortgage shall not apply to (a) the pledge by Mezzanine Borrower, of its ownership interest in Borrower to Mezzanine Lender as security for the Mezzanine Loan, and (b) the acquisition by Mezzanine Lender of the ownership interests pledged
to Mezzanine Lender as security for the Mezzanine Loan described in clause (a) above. 

  

	6.	PREPAYMENT. 

  

	 	6.1	The Note contains provisions which permit Full Defeasance Only. 

  

	7.	AUTODEBIT. 

  

	 	7.1	Monthly payments are required to be made by automatic debit from an account acceptable to Lender. 

  

 EXHIBIT A 
 6 

 Loan No. 31-0905749 
 EXHIBIT B TO PROMISSORY NOTE 
 Loan Documents and Other Related Documents 
 This Exhibit B is attached to and forms a part of that Promissory Note (“Note”) executed by KBS CRESCENT GREEN, LLC, a Delaware limited liability
company (“Borrower”) in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION (“Lender”). 
  

	1.	LOAN DOCUMENTS. The documents numbered 1.1 through 1.11 below of even date herewith (unless otherwise specified) and any amendments, modifications and supplements
thereto which have received the prior written approval of Lender and any documents executed in the future that are approved by Lender and that recite that they are “Loan Documents” for purposes of this Note are collectively referred to as
the “Loan Documents”. 

  

			
	1.1	  	This Note;
		
	1.2	  	Deed of Trust;
		
	1.3	  	State of Delaware Uniform Commercial Code - Financing Statement - Form UCC-1;
		
	1.4	  	Limited Liability Company Borrowing Certificate;
		
	1.5	  	Limited Liability Company Certificate Authorizing Limited Liability Company Activity;
		
	1.6	  	Assignment of Management Contracts;
		
	1.7	  	Agreement Regarding Required Insurance;
		
	1.8	  	Cash Management Agreement (Springing Hard);
		
	1.9	  	Clearing Account Agreement (Soft Lockbox);
		
	1.10	  	Landlord’s Agreement and Estoppel Certificate; and
		
	1.11	  	Autodebit Authorization

  

	2.	OTHER RELATED DOCUMENTS WHICH ARE NOT LOAN DOCUMENTS. 

  

			
	 2.1
	  	Agreement for Disbursement Prior to Recording and Amendment to Note;
		
	 2.2
	  	Intercreditor Agreement;
		
	 2.3
	  	Nonconsolidation Opinion of Borrower’s Counsel;
		
	 2.4
	  	Delaware Single Member and Authority to File Bankruptcy Legal Opinions; and
		
	 2.5
	  	Legal Opinions of Borrower’s Counsel (CA and NC).

  

 EXHIBIT B 
 1

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