Document:

Exhibit 10.2(b)

               Schedule of 12% Secured Convertible Note Issued by
               NCT Group, Inc. to Carole Salkind on July 10, 2006

   Issue Date       Due Date          Principal          Conversion Price
   ----------       --------          ---------          ----------------
    07/10/06        01/10/07         $650,285.76     Greater of: (i) $0.0019; or
                                                     (ii) the par value of NCT
                                                     Group, Inc. common stock on
                                                     the date of exerciseREAL ESTATE SALE AGREEMENT

by and between

LINCOLN-CARLYLE ILLINOIS CENTER LLC,

as Seller

and

PARKWAY PROPERTIES LP,

as Purchaser

111 East Wacker Drive

Chicago, Illinois

 April 18, 2006

	

  	

  	

  

THIS AGREEMENT is made and entered into as of April 18,
2006 by and between LINCOLN-CARLYLE ILLINOIS CENTER LLC, a Delaware limited
liability company ("Seller") and  PARKWAY PROPERTIES LP, a
Delaware limited partnership  ("Purchaser").

WHEREAS, Seller is the owner of the real estate and
related assets hereinafter described; and

WHEREAS, Seller desires to sell, and Purchaser desires
to buy, the real estate and related assets hereinafter described, at the price
and on the terms and conditions hereafter set forth.

NOW, THEREFORE, in consideration of the recitals, the
mutual covenants hereafter set forth, and other good and valuable
considerations, the receipt and sufficiency of which are mutually acknowledged,
it is agreed by and between the parties as follows:

1.       Defined Terms. 
Capitalized terms used in this Agreement shall have the meanings ascribed to
them in the Glossary of Defined Terms attached hereto as Exhibit A.

2.       Sale and
Conveyance; Survey.  (a)  Seller agrees to sell and convey the Property to
Purchaser, and Purchaser agrees to buy the Property from Seller, at the price
and upon the other terms and conditions hereinafter set forth.

(b)     The Personal Property, if any, shall be
conveyed to Purchaser by the Bill of Sale.

(c)     Pursuant to the Assignment of Leases, the Service
Contracts, the Construction Contracts, the Leases and the Intangible Personal
Property shall be assigned by Seller to Purchaser, and subject to the
provisions of Section 4(n)(10), Purchaser shall assume (i) all of Seller's
obligations under the Construction Contracts and those obligations of Seller
under the Service Contracts which relate to periods from and after Closing, and
(ii) any of Seller's monetary obligations under the Construction Contracts and
the Service Contracts which relate to periods prior to Closing to the extent
Purchaser receives a credit therefor at Closing.

(d)     Seller has heretofore delivered to Purchaser a survey
of the Real Property, prepared by Chicago Guarantee Survey Company, dated May
14, 2002 and last revised June 12, 2002 and identified as Order Number 0204019
(the "Survey").  Purchaser may obtain, at its sole expense, an
updated version of the Survey.

3.       Purchase Price;
Earnest Money.  The purchase price for the Property shall be the Purchase
Price, payable by Purchaser to Seller as follows:

	

  

  
	
  Exhibit O-1

  	

  

  

(a)            
Concurrently with the execution of this Agreement, Purchaser shall
deposit into a strict joint order escrow trust established with the Title
Company, as earnest money hereunder, the First Earnest Money Deposit and the
Second Earnest Money Deposit, for a total of One Million Dollars ($1,000,000). 
Prior to the expiration of the Inspection Period, Purchaser shall deposit into
such escrow, as additional earnest money hereunder, the Third Earnest Money
Deposit , for a total of Five Million Dollars ($5,000,000).   The Earnest Money
shall at all times prior to Closing be invested in United States treasury
obligations or such other interest bearing accounts or securities as are
approved by Purchaser and Seller in writing; all interest earned on the Earnest
Money shall be deemed to constitute part of the Earnest Money, and shall be
administered and paid in the same manner as the Earnest Money.  At the Closing,
Purchaser shall receive a credit against the Purchase Price for the Earnest
Money.

 (b)    Each of Seller and Purchaser agree to direct
the Title Company, as escrowee, to administer and pay the Earnest Money in
accordance with the terms and provisions of this Agreement.

(c)     The Purchase Price, less a credit for the
Earnest Money, and plus or minus prorations and adjustments as set forth in
Section 16 hereof, shall be paid by Purchaser to Seller by wire transfer of
immediately available federal funds prior to  noon Central Time on the Closing
Date.

(d)     Seller and Purchaser acknowledge and agree
that One Hundred and No/100 Dollars ($100.00) of the Earnest Money shall be
paid to Seller if this Agreement is terminated for any reason (the "Independent
Contract Consideration").  Moreover, Seller and Purchaser acknowledge
and agree that the Independent Contract Consideration has been bargained for
and agreed to as additional consideration for Seller's execution and delivery
of this Agreement.  At Closing the Independent Contract Consideration shall be
applied to the Purchase Price.  In the event this Agreement is terminated for
any reason, Seller shall be entitled to the Independent Contract Consideration

4.       Seller's
Representations, Warranties and Covenants. As a material inducement to
Purchaser to execute this Agreement and consummate this transaction, Seller
hereby represents and warrants to Purchaser, and covenants with Purchaser, as
follows:

(a)     Organization and Authority.  Seller has
been duly organized and is validly existing as a Delaware limited liability
company.  Seller has the full right and authority, and has obtained any and all
consents required, to enter into this Agreement, consummate or cause to be
consummated the sale of the Property and make or cause to be made the
conveyances, transfers and assignments contemplated herein.  Seller and
Seller's managing member are duly qualified to do business in the State of Illinois
to the extent such qualification is required under Illinois law.  The persons
signing this Agreement on behalf of Seller are authorized to do so.  This
Agreement and all of the documents to be delivered by Seller at the Closing
have been or will be duly authorized and properly executed and constitute or
will constitute the valid and binding obligations of Seller, enforceable
against Seller in accordance with their terms when delivered.

	

  

  
	
  Exhibit O-2

  	

  

  

(b)     Conflicts.  There is no agreement to
which Seller is a party or, to Seller's Knowledge, binding on Seller or the
Property which is in conflict with this Agreement or which would limit or
restrict the timely performance by Seller of its obligations pursuant to this
Agreement.

(c)     Documents and Records. Seller has
provided (or upon the execution hereof will provide) Purchaser with true,
correct and complete copies of the items scheduled in Exhibit C attached
hereto; in addition, Seller has provided or will provide upon Purchaser's reasonable
request, Purchaser with, or will make available to Purchaser for inspection at
the Property, other information regarding the Property and the operation
thereof by Seller in the possession and control of Seller or its property
manager (all of the foregoing collectively the "Property Information").

(d)     Litigation.  To Seller's Knowledge,
there is no action, suit  or proceeding pending or expressly threatened in
writing which (i) if adversely determined, would materially and adversely
affect the Property, or (ii) which challenges or impairs Seller's ability to
execute, deliver or perform this Agreement or consummate the transaction
contemplated hereby.

(e)     Leases.  Other than the Leases listed
on Exhibit D attached hereto, there are no contracts or agreements with
respect to the occupancy of the Property owned by such Seller or any portion or
portions thereof which will be binding on Purchaser or such Property after the
Closing.  The copies of the Leases heretofore delivered by such Seller to
Purchaser are true, correct and complete copies thereof, and the Leases have
not been amended except as evidenced by amendments similarly delivered and
listed on Exhibit D attached hereto and constitute the entire agreement
between such Seller and the tenants thereunder.  Except as set forth in Exhibit
D attached hereto, Seller has not given or received any written notice of
any party's default or failure to comply with the terms and provisions of the
Leases which remains uncured.  Exhibit D-1 attached hereto is a true and
correct statement of all tenants that are more than thirty (30) days delinquent
in rents under any of the Leases as of April 12, 2006.  Exhibit D-2
attached hereto is a true and correct statement of any and all outstanding
obligations of Seller to tenants under any of the Leases as of April 12, 2006
with respect to tenant improvement allowances or similar monetary allowances
from Seller to tenants under any of the Leases, as well as any unperformed
construction obligations of Seller under any of the Leases and Construction
Contracts and outstanding leasing commission obligations for the initial term
of any of the Leases. 

 (f)     Service and Construction Contracts.   Exhibit
E sets forth all of the Service Contracts and Construction Contracts
presently outstanding with respect to the Property.  Other than as set forth on
Exhibit E and the Management Agreement, there are no Service Contracts
or Construction Contracts affecting the Property.  To Seller's Knowledge,
neither Seller nor any other party is in default with respect to any of its
obligations or liabilities pertaining to the Service Contracts or the
Construction Contracts.

	

  

  
	
  Exhibit O-3

  	

  

  

(g)     Notice of Violations.  Seller has
received no written notice that either the Property or the use thereof violates
any laws, rules and regulations of any federal, state, city or county
government or any agency, body, or subdivision thereof having any jurisdiction
over the Property  that have not been resolved to the satisfaction of the
issuer of the notice.  To Seller's Knowledge, neither the Property nor the use
thereof violates any laws, including without limitation Environmental Laws,
rules and regulations of any federal, state, city or county government or any
agency, body, or subdivision thereof having any jurisdiction over the Property
in any material respect.

(h)     Withholding Obligation.  Seller is not
a "foreign person" within the meaning of Section 1445 of the Internal Revenue
Code or under the laws of the State of Illinois.

(i)      Condemnation.  Except for any
condemnation proceedings which Seller has not yet been served with process,
there are no pending or, to Seller's Knowledge,  threatened condemnation or
similar proceedings affecting the Property or any part thereof.  To Seller's
Knowledge, there are no pending condemnation proceedings to which Seller has
not yet been served with process.

(j)      Insurer Notices.  Seller has not
received any written notice from any insurance company or board of fire
underwriters of any defects or inadequacies in, on, or about the Property, or
any part or component thereof, which would adversely affect the insurability of
the Property or cause an increase in the premiums for the Property which have
not been cured or resolved to the satisfaction of the party issuing the
notice.  To Seller's Knowledge there are no defects or inadequacies in the
Property, or any part or component thereof, which would adversely affect the
insurability of the Property or cause an increase in the premiums for the
Property.

(k)     Employees.  Seller has no on-site employees
engaged in the operation and maintenance of the Property.

(l)      Marketable Title. 
At the Effective Date and as of Closing, Seller will own the Personal Property
scheduled in Exhibit F free and clear of all liens, claims, encumbrances, and
rights of others, except the leased or financed equipment disclosed pursuant to
Exhibit F.  Seller is not a party to any contract,
agreement, or commitment to sell, convey, assign, transfer or otherwise dispose
of any portion or portions of the Property.

(m)    Operating Statements.  To Seller's
Knowledge, the operating statements for the Property delivered to Purchaser are
the same operating statements used by Seller in the ordinary course of
operating and managing the Property, and fairly present the results of
operations of the Property for the periods covered thereby.

(n)     Covenants.  Seller covenants and agrees
that during the Contract Period:

	

  

  
	
  Exhibit O-4

  	

  

  

(1)     Seller will
timely pay and perform its obligations under the Leases, Service Contracts and
Construction Contracts to be assumed by Purchaser pursuant hereto.

(2)     Seller shall
provide Purchaser with prompt notice and copies of all new Leases, Lease
amendments and Lease extensions ("New Leases") and Lease
terminations occurring during the Contract Period.  Seller shall use reasonable
efforts to solicit input from Purchaser regarding, and keep Purchaser informed
of the status of, proposed New Leases, and will provide Purchaser with copies
of drafts, proposals, letters of intent and other similar documentation
pertaining to such proposed New Leases.  From and after April 26, 2006, Seller
shall not enter into any New Leases or lease terminations without obtaining
Purchaser's prior written consent, which shall not be unreasonably conditioned,
delayed or withheld and shall be deemed given if Purchaser does not reject the
same within five (5) business days after notice thereof from Seller.

(3)     From and after
the date hereof, Seller will not enter into any contract (other than New Leases
and lease terminations as provided in the foregoing subsection (2)) that will
be an obligation affecting the Property subsequent to the Closing Date except
(x) contracts entered into in the ordinary course of business that are
terminable without cause and without payment of a penalty on not more than 30-days'
notice, or (y) Construction Contracts entered into pursuant to Leases or New
Leases executed in accordance with this Agreement.

(4)     Seller will not
remove any Personal Property from the Real Property except as may be required
for necessary repair or replacement, and in the event of such replacement, the
replacement shall be of materially equal or better quality and quantity as
existed as of the time of its removal;

(5)     Seller will continue to operate and maintain the
Property in accordance with past practices and will not make any material
alterations or changes thereto; provided, however, that notwithstanding past
practices Seller shall not be required to make any capital expenditures in
maintaining and operating the Property except as otherwise provided in this
Agreement;

(6)     Seller will
maintain all-risk casualty insurance of a level and type consistent with the
insurance maintained by Seller prior to the execution of this Agreement in
force with respect to the Property in an amount equal to the full replacement
cost of the Property, with a deductible amount not exceeding $1,000,000;

(7)     Upon the
expiration of the Inspection Period Seller will send out Tenant Estoppels to
the tenants under the Leases (with a complete copy of such tenant's lease
attached to the Tenant Estoppel to be executed by such tenant) and use
commercially reasonable efforts to obtain and deliver executed Tenant Estoppels
to Purchaser at least five (5) business days prior to Closing.

	

  

  
	
  Exhibit O-5

  	

  

  

(8)     Seller shall not
do anything, nor authorize anything to be done, which would adversely affect
the condition of title as shown on the Title Commitment.

(9)     Seller shall
notify Purchaser promptly upon receiving written notice during the Contract
Period of (i) any fact or event which makes any of the representations or
warranties of Seller contained in this Agreement untrue, or which would cause
Seller to be in violation of any of its covenants or other undertakings or
obligations hereunder; (ii) any violation of any law, ordinance or regulation
which affects the Property or any portion thereof; or (iii) the filing of
bankruptcy or insolvency proceedings by or against any tenant under any of the
Leases.  Seller shall provide Purchaser with copies of any notice of default
given or received by or on behalf of Seller with respect to any Lease,
Construction Contract or Service Contract to be assumed by Purchaser pursuant
to this Agreement.

(10)   Seller
agrees to terminate by written notice to the other parties thereto, effective
as of Closing, any of the Service Contracts  that Purchaser, pursuant to
written notice to Seller prior to the expiration of the Inspection Period,
requests Seller to terminate, but only if such Service Contracts may be
lawfully terminated without any monetary penalty to Seller.  Seller shall
deliver to Purchaser copies of all notices of termination given by Seller
hereunder.  Seller shall assign to Purchaser at Closing, and Purchaser shall
assume, (x) all of the Construction Contracts, and (y) all of the Service
Contracts other than those Service Contracts which Seller terminates in
accordance with the provisions of this Section 4(n)(10).

 (11)  If
requested by Purchaser at any time during the Contract Period, Seller will use
commercially reasonable efforts, but at Purchaser's sole cost and expense, to
cause any warranties held by Seller and given by third parties with respect to
the Property to be transferred to Purchaser at Closing.

  (12)  In the event the Property is subject to any covenants,
conditions or restrictions of record, Seller shall use commercially reasonable
efforts (not including the payment of money) to obtain an estoppel certificate
from the applicable declarant, owner's association or other party in customary
form; provided, however, that obtaining any such estoppel certificates
shall not be condition precedent to Closing hereunder.

5.       Purchaser's
Representations and Warranties.  As a material inducement to Seller to
execute this Agreement and consummate this transaction, Purchaser represents
and warrants to Seller that:

	

  

  
	
  Exhibit O-6

  	

  

  

(a)     Organization and Authority.  Purchaser
has been duly organized and is  validly existing as a Delaware limited
partnership.  Purchaser has the full right and authority, and has obtained any
and all consents required, to enter into this Agreement and  consummate or
cause to be consummated the purchase of the Property.  The persons signing this
Agreement on behalf of Purchaser are authorized to do so.  This Agreement and
all of the documents to be delivered by Purchaser at the Closing have been
authorized and properly executed and will constitute the valid and binding
obligations of Purchaser, enforceable against Purchaser in accordance with
their terms.

(b)     Conflicts.  There is no agreement to
which Purchaser is a party or to Purchaser's knowledge binding on Purchaser
which is in conflict with this Agreement.

6.       As Is Sale;
Release.  (a)  By closing this transaction, Purchaser acknowledges and
agrees that it has been given or will be given before the end of the Inspection
Period, a full opportunity to inspect and investigate each and every aspect of
the Property, either independently or through agents of Purchaser's choosing,
including, without limitation:

(1)     All matters
relating to title, together with all governmental and other legal requirements
such as taxes, assessments, zoning, use permit requirements and building codes.

(2)     The physical
condition of the Property, including, without limitation, the interior, the
exterior, the structure, the paving, the utilities, and all other physical and
functional aspects of the Property.  Such examination of the physical condition
of the Property may include an examination for the presence or absence of
Hazardous Materials, which shall be performed or arranged by Purchaser at
Purchaser's sole expense.

(3)     Any easements
and/or access rights affecting the Property, which are reflected on the Title
Commitment.

(4)     The Leases and
all matters in connection therewith, including, without limitation, the ability
of the tenant thereunder to pay the rent.

(5)     The Service
Contracts, the Construction Contracts, the Chiller Contract and any other
documents or agreements of significance affecting the Property and furnished to
Purchaser.

	

  

  
	
  Exhibit O-7

  	

  

  

 (b)    Purchaser specifically acknowledges and agrees
that subject to the provisions of Section 4, Seller is selling and Purchaser is
purchasing the Property on an "AS IS" and "WITH ALL FAULTS" basis and that,
except as provided in Section 4, Purchaser is not relying on any
representations or warranties of any kind whatsoever, express or implied, from
Seller, its agents, or brokers as to any matters concerning the Property,
including without limitation:  (i) the quality, nature, adequacy and physical
condition of the Property, including, but not limited to the structural
elements, foundation, roof, appurtenances, access, landscaping, parking
facilities and the electrical, mechanical, HVAC, plumbing, sewage, and utility
systems, facilities and appliances, (ii) the quality, nature, adequacy, and
physical condition of soils, geology and any groundwater, (iii) the existence,
quality, nature, adequacy and physical condition of utilities serving the
Property, (iv) the development potential of the Property, and the Property's
use, habitability, merchantability, or fitness, suitability, value or adequacy
of the Property for any particular purpose, (v) the zoning or other legal
status of the Property or any other public or private restrictions on use of
the Property, (vi) the compliance of the Property or its operation with any
applicable codes, laws, regulations, statutes, ordinances, covenants,
conditions and restrictions of any governmental or quasi-governmental entity or
of any other person or entity, (vii) the presence of Hazardous Materials on,
under or about the Property or the adjoining or neighboring property, (viii)
the quality of any labor and materials used in any Improvements, (ix) the
condition of title to the Property, (x) the Leases, Service Contracts,
Construction Contracts or other agreements affecting the Property and furnished
to Purchaser, and (xi) the economics of the operations of the Property.

(c)     Without limiting the above, Purchaser on
behalf of itself and its successors and assigns waives its right to recover
from, and forever releases and discharges the Seller Related Parties, and each
of them, from any and all demands, claims, legal or administrative proceedings,
losses, liabilities, damages, penalties, fines, liens, judgments, costs or
expenses whatsoever (including, without limitation, reasonable attorneys' fees
and costs), whether direct or indirect, known or unknown, foreseen or
unforeseen, that may arise on account of or in any way be connected with the
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
as amended (42 U.S.C. Section 6901, et seq.), the Resources Conversation
and Recovery Act of 1976 (42 U.S.C. Section 6901, et seq.), the Clean
Water Act (33 U.S.C. Section 1251, et seq.), the Safe Drinking Water Act
(14 U.S.C. Section 1401, et seq.), the Hazardous Materials
Transportation Act (49 U.S.C. Section 1801, et seq.), the Toxic
Substance Control Act (15 U.S.C. Section 2601, et seq.), and any similar
environmental state or local statutes, regulations, rules or requirements.  The
provisions of this Section shall survive Closing; provided, however, that (x) nothing
in this Section 6(c) shall release Seller from any liability arising out of any
inaccuracy or breach of any of the representations and warranties made by
Seller in Section 4, or preclude Purchaser from the exercise of any right or
remedy available under this Agreement by reason of any inaccuracy or breach of
such representations and warranties, and (y) nothing in this Section 6(c) shall
release Seller from any liability arising out the improper release or disposal
of hazardous materials at the Real Property by Seller or its authorized agents
or employees.

Purchaser's
Initials: _______                                                                              Seller's Initials: _______

	

  

  
	
  Exhibit O-8

  	

  

  

7.       Representations,
Warranties and Covenants Prior to Closing.  The continued validity in all
respects of the foregoing representations and warranties shall be a condition
precedent to the obligation of the party to whom the representation and
warranty is given to close this transaction.  If Purchaser acquires, through
any means, actual knowledge that any of Seller's representations and warranties
are or shall not be true and correct in any material respect at any time on or
before the Closing Date, and such breach of representation or warranty remains
uncured for a period of fifteen (15) days after notice thereof from Purchaser
to Seller, then Purchaser may, at Purchaser's option, exercised by written
notice to Seller, either (i) proceed with this transaction, accepting the
applicable representation and warranty as being modified by such subsequent
matters or knowledge and waiving any right relating thereto, if any, or (ii)
terminate this Agreement and declare this Agreement to be of no further force
and effect and in which event the Earnest Money shall promptly be returned to
Purchaser and Seller shall have no liability to Purchaser hereunder by reason
thereof; provided, however, that if the breach of any representation or
warranty of Seller hereunder results from the willful and intentional act of
Seller, Purchaser shall have the rights and remedies available to Purchaser
hereunder upon a default hereunder or breach hereof by Seller.

8.       Survival of
Representations and Warranties After Closing; Limitation of Seller's Liability. 
(a)  All representations and warranties of Seller herein shall survive the
Closing for a period of one (1) year (the "Limitation Period").

(b)     Purchaser shall provide actual written notice
to Seller of any breach of  any of Seller's warranties or representations of
which Purchaser acquires knowledge, through any means, at any time after the
Closing Date but prior to the expiration of the Limitation Period, and shall
allow Seller thirty (30) days within which to cure such breach, or, if such
breach is susceptible of cure but cannot reasonably be cured within thirty (30)
days, an additional reasonable time period required to effect such cure so long
as such cure has been commenced within such thirty (30) days and diligently
pursued.  If Seller fails to cure such breach after actual written notice and
within such cure period (as extended), Purchaser's sole remedy shall be an action
at law for damages as a consequence thereof, which must be commenced, if at
all, within the six (6) months after the expiration of the Limitation Period.

(c)     Notwithstanding anything in this Section 8 to
the contrary, (i) Purchaser shall not be entitled to make a claim against
Seller for a violation of the representations, warranties, and covenants unless
the amount of damages to Purchaser equals or exceeds Fifty Thousand Dollars
($50,000) and (ii) the cumulative, maximum amount of liability that Seller
shall have to Purchaser for breaches of the representations, warranties and
covenants under this Agreement shall not exceed Three Million Dollars
($3,000,000).

 9.      Inspection
Period.  (a)  During the Inspection Period Purchaser may  review the
Property Information, and examine, inspect, and investigate the Property to
determine whether, in Purchaser's sole judgment and discretion, Purchaser
wishes to proceed to purchase the Property.

	

  

  
	
  Exhibit O-9

  	

  

  

(b)     Purchaser shall have reasonable access to the
Property (subject to and consistent with the rights of the tenants under the
Leases) for the purpose of conducting surveys, architectural, engineering,
geotechnical and environmental inspections and tests, and any other
inspections, studies, or tests reasonably required by Purchaser ("Inspections"). 
Purchaser shall give Seller not less than 24 hours prior written notice before
entering onto the Property to perform inspections or tests, and in the case of
tests (i) Purchaser shall specify to Seller the precise nature of the test to
be performed, (ii) invasive testing shall require the prior advance written
consent of Seller, in its sole discretion, and (iii) Seller may require, as a
condition precedent to Purchaser's right to perform any such test, that
Purchaser deliver Seller evidence of public liability and other appropriate
insurance maintained by Purchaser or Purchaser's contractor naming Seller as an
additional insured thereunder.  Any inspections and testing shall be performed
in accordance with law and only by appropriately qualified and, where
applicable, licensed personnel.  Purchaser shall keep the Property free and
clear of any liens.  If any inspection or test disturbs the Property, 
Purchaser will restore the Property to substantially the same condition as
existed prior to any such inspection or test.  The obligations of Purchaser
under this Section shall survive the termination of the Agreement.

(c)     Purchaser and its agents, employees, and
representatives may, upon not less than 24 hours prior notice to Seller,
examine and make copies of all books and records and other materials relating
to the Property in the possession of Seller or Seller's property manager at the
office of Seller where such records are maintained, except to the extent (x)
Seller or Seller's property manager is required by written agreement or
applicable law to keep such books and records confidential (in the event of
written confidentiality agreements Seller shall specifically list any and all
such agreement(s) and designate the scope and nature thereof) or (y) Seller or
Seller's property manager reasonably deems the same privileged or confidential,
which confidential information may include appraisals, business plans, market
studies, financial projections and attorney-client communications.  At the reasonable
request of Purchaser, and at Purchaser's sole expense, Seller shall cause
specified items of such information available for examination and copying by
Purchaser to be copied or scanned and transmitted to Purchaser at a location
designated by Purchaser.

 (d)    Notwithstanding anything contained herein to
the contrary, Seller shall have the right, in its sole discretion, to have an
employee of Seller or any other party designated by Seller (including Seller's
property manager) present during any such Inspection and to approve any
inquiries (including any written correspondence) Purchaser may make to any
tenants, property management employees, parties to Service Contracts, or any
governmental officials or representatives.  Purchaser shall give Seller not
less than forty-eight (48) hours prior written notice of any proposed meeting
with any tenant, property management employee, party to a Service Contract, or
any governmental officials or representatives with regard to the Property
(which notice, for purposes of this subsection (d) only, may be given by
facsimile or electronic mail); provided proper notice was given, Purchaser may
proceed with any such meeting despite the failure of Seller to have its
employee or representative present.

	

  

  
	
  Exhibit O-10

  	

  

  

(e)     Purchaser shall indemnify and defend Seller
against and hold Seller harmless from any and all loss, cost, claim, liability
and expense (including reasonable attorneys' fees) arising out of Purchaser's
activities on the Real Property or relating to Purchaser's Inspections during
the term of this Agreement, excluding economic loss that results solely from
the discovery or disclosure of adverse matters.  Purchaser's obligations under
this Section shall expressly survive the Closing or termination of this
Agreement.

 (f)     Prior to the end of the Inspection Period,
Purchaser, at its sole cost and expense, may (but shall not be obligated to)
obtain an environmental report for the Property.  If Purchaser obtains such a
report but Closing does not occur, then Purchaser shall provide a copy of such
environmental report to Seller.

 (g)    Purchaser may terminate this Agreement for any
reason (or no reason) on or before the end of the Inspection Period.  If
Purchaser fails to timely elect to terminate this Agreement by giving written
notice of such election to Seller on or before the end of the Inspection
Period, this Agreement shall continue in full force and effect and except as
otherwise expressly provided for in this Agreement, the Earnest Money shall be
non-refundable.

(1)     If Purchaser timely
elects to terminate this Agreement by giving written notice of such election to
Seller on or before 5:00 p.m. Central Daylight Time on April 26, 2006, this
Agreement shall terminate, whereupon (x) the Independent Contract Consideration
shall be retained by Seller in consideration of the Inspection Period provided
hereunder, (y) the First Earnest Money Deposit and the Second Earnest Money
Deposit shall be immediately refunded to Purchaser, and (z) neither party shall
have any further liability or obligation to the other except for the provisions
of this Agreement that expressly survive Closing or early termination.

(2)     If Purchaser timely
elects to terminate this Agreement by giving written notice of such election to
Seller after 5:00 p.m. Central Daylight Time on April 26, 2006 but on or before
the end of the Inspection Period, this Agreement shall terminate, whereupon (x)
the First Earnest Money Deposit (which includes the Independent Contract
Consideration) shall be retained by Seller in consideration of the Inspection
Period provided hereunder, (y) the Second Earnest Money Deposit shall be
immediately refunded to Purchaser, and (z) neither party shall have any further
liability or obligation to the other except for the provisions of this
Agreement that expressly survive Closing or early termination.

10.     Closing. 
(a)  The Closing shall be accomplished through the escrow referred to in
subsection (c), and shall take place at or prior to noon Central Daylight Time
on Monday, June 12, 2006, or such later date (but in each case the 11th
day of the calendar month, or if the 11th day of a calendar month is
not a business day, the next business day) to which Closing is extended in
accordance with the provisions of this Agreement, provided that all conditions
precedent to the Closing have been fulfilled or have been waived in writing by
the respective party entitled to waive same.  For purposes of this Section 10,
Closing shall be deemed to have occurred upon (and only upon) the wire transfer
of the Purchase Price to Seller (plus or minus prorations and adjustments as
provided herein).

	

  

  
	
  Exhibit O-11

  	

  

  

(b)     In the event that Seller fails to timely
obtain the required Tenant Estoppels pursuant to Section 11(a)(4), Seller may
elect to unilaterally extend the Closing for a period of one month (to the 11th
day of the following month, or if the 11th day of the following
month is not a business day, the next business day) to permit Seller to attempt
to obtain such Tenant Estoppels.  Any such election shall be made by Seller by
notice to Purchaser not later than three (3) business days prior to the date
set for Closing hereunder.

(c)     On or prior to the date set for Closing under
this Agreement, the parties shall establish the usual form of deed and money
escrow with Title Company.  Counsel for the respective parties are hereby
authorized to execute the escrow trust instructions, as well as any amendments
thereto.  In the event of any conflict between the escrow trust instructions
and the provisions of this Agreement, as between the parties hereto the
provisions of this Agreement shall control.

11.     Conditions to
Purchaser's Obligation to Close.  (a)  Purchaser shall not be obligated to
proceed with the Closing unless and until each of the following conditions has
been either fulfilled or waived in writing by Purchaser:

(1)     This Agreement
shall not have been previously terminated pursuant to any other provision
hereof;

(2)     Seller shall be
prepared to deliver or cause to be delivered to Purchaser all instruments and
documents to be delivered to Purchaser at the Closing pursuant to Section 14 or
any other provision of this Agreement;

(3)     The
representations and warranties of Seller contained in this Agreement shall have
been true on the date of this Agreement and shall be true at Closing, and Seller
shall have performed all obligations and complied with all covenants required
by to be performed by Seller pursuant to this Agreement;

(4)     The Management Agreement shall have been terminated on       or
before the Closing at no cost, liability or expense to Purchaser; and

	

  

  
	
  Exhibit O-12

  	

  

  

(5)     Seller shall have
delivered to Purchaser Tenant Estoppels from (i) the Major Tenants and (ii)
tenants leasing space which in the aggregate comprises not less than
eighty-five percent (85%) of the rentable office and retail space at the
Property which is then leased to tenants (inclusive of the Major Tenants)
excluding rentable space in the parking garage.  Seller may, but shall not be
obligated to, substitute a Seller estoppel certificate in the form attached
hereto as Exhibit L-1 ("Seller Estoppel"), certifying to
substantially the same matters as a Tenant Estoppel, for any Tenant Estoppel
required hereunder other than a Tenant Estoppel of a Major Tenant.  In the
event that Seller delivers a Seller Estoppel in lieu of a Tenant Estoppel with
respect to any Lease at Closing, Seller and Purchaser shall reasonably
cooperate to obtain a Tenant Estoppel with respect to such Lease, and the
Seller Estoppel shall expire and be of no further force or effect effective
upon the delivery to Purchaser of a Tenant Estoppel executed by the tenant
under such Lease after Closing which complies with the requirements for Tenant
Estoppels set forth in the following sentences.  No Tenant Estoppel shall (A)
be inconsistent with the Lease Schedule attached hereto as Exhibit D in
any material respect, (B) assert the existence of a material default by the
landlord under the subject Lease, (C) assert the existence of a material
agreement between the landlord and the tenant not reflected in the subject
Lease, or (D) disclose any other matter which materially and adversely affects
the Property, unless in each case, prior to Closing, Seller shall have
submitted to Purchaser written evidence reasonably acceptable to Purchaser
indicating that any such unpermitted matter has been resolved.  Purchaser
agrees that it will accept any Tenant Estoppel which contains language which
qualifies the statements set forth in paragraph 7 or 8 of Exhibit L regarding
Landlord default or other actions of Landlord as being within the "knowledge",
"best knowledge", "actual knowledge" or any words of similar import or effect
of the tenant that executes and delivers such Tenant Estoppel.

(b)  In the event that any of the foregoing conditions
shall not have been fulfilled on or before the time for Closing hereunder, then
subject to the provisions of Section 17(b) hereof, Purchaser may elect, upon
notice to Seller, to terminate this Agreement, in which event the Earnest Money
shall be returned to Purchaser, and neither party shall have any further
liability or obligation to the other except for the provisions of this
Agreement that expressly survive Closing or early termination.

12.     Conditions to
Seller's Obligation to Close.  (a)  Seller shall not be obligated to
proceed with the Closing unless and until each of the following conditions has
been fulfilled or waived in writing by Seller:

(1)     Purchaser shall
be prepared to pay to Seller all amounts to be paid to it at Closing pursuant
to the provisions of this Agreement;

(2)     Purchaser shall
be prepared to deliver to Seller all instruments and documents to be delivered
to Seller at the Closing pursuant to Section 15 or any other provision of this
Agreement; 

(3)     The
representations and warranties of Purchaser contained in this Agreement shall
have been true on the date of this Agreement and shall be true at Closing, and
Purchaser shall have performed all obligations and complied with all covenants
required by to be performed by Purchaser pursuant to this Agreement; and

(4)     This Agreement
shall not have been previously terminated pursuant to any other provision
hereof.

	

  

  
	
  Exhibit O-13

  	

  

  

(b)     In the event that any of the foregoing
conditions shall not have been fulfilled on or before the time for Closing
hereunder, then subject to the provisions of Section 17(a) hereof, Seller may
elect, upon notice to Purchaser, to terminate this Agreement, in which event
the Earnest Money shall be returned to Purchaser, and neither party shall have
any further liability or obligation to the other except for the provisions of
this Agreement that expressly survive Closing or early termination.

13.     Title Insurance. 
(a) The Title Report shall be delivered to Purchaser within five (5) days after
the date of this Agreement.  

(b)     During the Inspection Period, Purchaser shall
review title to the Property as disclosed by the Title Commitment and the
Survey (and the updated Survey), and satisfy itself as to the availability from
the Title Company of the ALTA extended coverage owner's policy of title
insurance (including any required endorsements) required by Purchaser at
Closing (the "Title Policy").

(c)     Seller shall have no obligation to remove or
cure title objections, except for (i) liens of an ascertainable amount created
by Seller, which liens Seller shall cause to be released at the Closing or affirmatively
insured over by the Title Company, (ii) any exceptions or encumbrances to title
which are created by Seller after the date of this Agreement without
Purchaser's consent, and (iii) non-consensual liens not exceeding $250,000 in
the aggregate (but expressly excluding liens or claims of lien for work or
materials performed or supplied by or on behalf of any tenant), which liens
Seller shall cause to be released at the Closing or affirmatively insured over
by the Title Company.

(d)     Purchaser may terminate this Agreement and
receive a refund of the Earnest Money if the Title Company revises the Title
Commitment after the expiration of the Inspection Period to add exceptions not
arising from the act or omission of Purchaser if such additional exceptions are
not acceptable to Purchaser and are not removed or affirmatively insured over
by the Title Company by the Closing Date.

(e)     "Permitted Exceptions" shall
mean: (i) any exception arising out of an act of Purchaser or its
representatives, agents, employees or independent contractors; (ii) zoning
ordinances and regulations; (iii) the specific exceptions in the Title
Commitment that the Title Company has not agreed to insure over or remove from
the Title Commitment as of the end of the Inspection Period and that Seller is
not required to remove as provided above; (iv) items shown on the Survey or any
updated Survey of the Real Property which have not been removed or objected to
as of the end of the Inspection Period (provided that if the updated Survey is received
later than April 24, 2006, then the period during which to object to such items
shall be extended on a day-for-day basis); (v) real estate Taxes not yet due
and payable; (vi) rights of tenants, as tenants only, under the Leases; and
(vii) liens or claims of lien for work or materials performed or supplied by or
on behalf of a tenant.

14.     Seller's Closing
Deposits.  At Closing, Seller shall deliver or cause to be delivered to
Purchaser each of the following instruments and documents:

(a)     the Deed, duly
executed and acknowledged by Seller;

	

  

  
	
  Exhibit O-14

  	

  

  

(b)     a counterpart
Assignment of Leases, duly executed and acknowledged by Seller;

(c)     the Bill of Sale,
duly executed and acknowledged by Seller;

(d)     the FIRPTA
Certificate, duly executed and acknowledged by Seller;

(e)     original copies
of any required real estate transfer tax declarations executed by Seller or any
other similar documentation required to evidence the payment of any tax imposed
by the state, county and city on the transaction contemplated hereby;

(f)      an updated copy
of Exhibit D, certified by Seller as being true, accurate and complete as of
Closing, and original copies of all Leases, Service Contracts and Construction
Contracts in the possession of Seller or its property manager;

(g)     a counterpart of
the Closing Statement for the transaction contemplated hereby, duly executed
and acknowledged by Seller and approved by Purchaser (and
the parties will use reasonable efforts to prepare and circulate a draft
Closing Statement at least two (2) business days before the scheduled Closing
Date and finalize such Closing Statement at least one (1) business day before
the scheduled Closing Date);

(h)     a Seller's ALTA
Statement, duly executed and acknowledged by Seller, in such form as is
required by the Title Company to issue the Title Policy and obtain extended
coverage, provided that Seller shall not be obligated to retain any liabilities
or execute any indemnification other than as required by Section 13(c) of this
Agreement or as otherwise reasonably requested by the Title Company;

(i)      a duly executed
notice to each of the tenants under the Leases in the form attached hereto as Exhibit
K;

(j)     a certificate
updating Seller's representations and warranties set forth in Section 4;

(k)     evidence of
Seller's termination of the  Management Agreement;

(l)      all master keys
in the possession of Seller or its property manager to all locks on the
Property;

(m)    the Master Lease,
duly executed by Seller;

(n)     such other
documents and instruments as may be required by any other provision of this
Agreement or as may reasonably be required to carry out the terms and intent of
this Agreement.

	

  

  
	
  Exhibit O-15

  	

  

  

15.     Purchaser's
Closing Deposits.  At Closing, Purchaser shall deliver or cause to be
delivered to Seller each of the following instruments, documents and amounts:

(a)     the balance of
the Purchase Price, plus sufficient cash to pay Purchaser's share of all escrow
costs, prorations and closing expenses as set forth herein;

(b)     a counterpart
Assignment of Leases, duly executed and acknowledged by Purchaser;

(c)     original copies
of any required real estate transfer tax declarations executed by Purchaser or
any other similar documentation required to evidence the payment of any tax
imposed by the state, county and city on the transaction contemplated hereby;

(d)     a counterpart of
the Closing Statement for the transaction contemplated hereby, duly executed
and acknowledged by Purchaser; 

(e)     the Master Lease,
duly executed by Purchaser; and

(f)      such other
documents and instruments as may be required by any other provision of this
Agreement or as may reasonably be required to carry out the terms and intent of
this Agreement.

16.     Prorations and
Adjustments. (a)  The items in subsections (1) through (3) of this Section
16(a) shall be prorated between Seller and Purchaser as of the close of
business on the day immediately preceding the Closing Date, the Closing Date
being a day of income and expense to Purchaser: 

(1)     Taxes and
Assessments.  

          (i)      Real
estate taxes assessed against the Real Property ("Taxes") for the
calendar year 2004 and prior calendar years (i.e., payable in calendar year
2005 and prior calendar years) and special assessments against the Real
Property ("Assessments") payable during calendar year 2005 and
prior calendar years have been paid by Seller.

          (ii)      Taxes
assessed against the Real Property for the calendar year 2006 and subsequent
calendar years (i.e., payable in calendar year 2007 and subsequent calendar
years) and Assessments payable during calendar year 2007 and subsequent
calendar years shall not be prorated and shall be paid by Purchaser when due. 

          (iii)     Taxes
assessed against the Real Property for the calendar year 2005 (i.e., payable in
calendar year 2006) and Assessments payable during calendar year 2006 shall be
prorated at Closing as follows: 

	

  

  
	
  Exhibit O-16

  	

  

  

(A)     Seller shall
pay any penalties or interest due as a result of the late payment of any
installment of Taxes or Assessments payable in calendar year 2006 or prior
calendar years which are delinquent as of Closing.    

(B)     Seller shall receive
a credit equal to the Taxes assessed for calendar year 2005 and payable in
calendar year 2006, or Assessments payable in calendar year 2006, which were
paid by Seller to the relevant taxing authority prior to Closing; and

(C)     Purchaser shall
receive a credit for the sum of (i) all amounts actually paid to Seller by
tenants under Leases on account of Taxes and Assessments payable during
calendar year 2006, plus (ii) the estimated aggregate amount of Taxes and
Assessments attributable to space in the Real Property for which Seller was not
entitled to payment or reimbursement by tenants for any period prior to Closing
in respect of Taxes or Assessments payable in 2006 (including vacant space, or
space for which the tenant under a Lease was not obligated to pay to the
landlord any share, or such tenant's full pro rata share, of Taxes and
Assessments payable during calendar year 2006).

Any refund or credit attributable to
Seller's overpayment of Taxes and Assessments payable in 2005 and previous
years (collectively, the "2005 Refund") which is not the property
of tenants under Leases is the property of Seller, and Purchaser shall
reasonably cooperate with Seller to obtain the 2005 Refund at Seller's sole
expense.  Seller hereby grants to Purchaser any rights it may have to contest
or appeal the Taxes, Assessments or assessed valuation of the Property for
Taxes and Assessments payable in 2006 and subsequent years.  If Purchaser
elects to exercise such contest or appeal rights, Seller shall cooperate
reasonably with Purchaser to obtain the reduction in such Taxes, Assessments or
assessed valuation, at Purchaser's reasonable expense.  Any refund or credit
attributable to the overpayment of Taxes and Assessments payable in 2006 and
subsequent years, less any attorneys fees or costs payable in with respect to
such Taxes and Assessments payable in 2006 (the "2006 Refund") which is
not the property of tenants under Leases shall be allocated between Seller and
Purchaser based upon their respective periods of ownership and Purchaser shall
promptly remit to Seller any portion of the 2006 Refund allocable to Seller,
regardless of whether or not such refund is in the form of a cash rebate or a
credit against future Taxes and Assessments.  The provisions of this Section
16(a)(1) shall survive Closing. 

	

  

  
	
  Exhibit O-17

  	

  

  

(2)     Collected Rent. 
Purchaser shall receive a credit for any rent and other income (and any
applicable state or local tax on rent) under Leases collected by Seller before
Closing that applies to any period after Closing.  Uncollected rent and other
uncollected income shall not be prorated at Closing.  After Closing, Purchaser
shall apply all rent and income collected by Purchaser from a tenant, together
with such tenant's pro-rata share of Taxes, Assessments and Operating Expenses (x) first to such tenant's monthly rental 
or the month in which the payment is made and then to any unpaid balances for the months
after Closing occurs in the inverse order, (y) next,to such tenant's monthly rental and
expense reimbursement obligations for the month in which the Closing occurs and (z) then to arrearages in
the reverse order in which they were due, remitting to Seller, after
deducting collection costs, any rent or expense reimbursements properly
allocable to Seller's period of ownership.  Purchaser shall bill and attempt to
collect such rent and expense reimbursement arrearages in the ordinary course
of business, but shall not be obligated to engage a collection agency or take
legal action to collect any rent arrearages.  Seller shall have the right to
seek collection of any rents,  other income or expense reimbursements
applicable to any period before the Closing and Purchaser will cooperate with
Seller in Seller's efforts to collect the same; however, following Closing,
Seller shall not have the right to terminate any Lease or any tenant's right to
possession of its premises.  Any rent or other income received by Seller after
Closing which are owed to Purchaser shall be remitted to Purchaser promptly
after receipt.

(3)     Operating Expenses.  Operating Expenses
incurred by Seller in connection with the Property for the year 2006 shall be
prorated at Closing as follows:  

(i)               
Seller, as landlord under the Leases, is currently collecting from
tenants under the Leases additional rent (collectively, "Operating
Expense Payments") to cover insurance, utilities, maintenance and other
operating costs and expenses incurred by Seller in connection with the
ownership, operation, maintenance and management of the Property during 2006
(collectively, "Operating Expenses"). 

(ii)             
Seller shall receive a credit equal to the total amount of Operating
Expenses paid by Seller;

(iii)            
Purchaser shall receive a credit for the sum of (A) all Operating
Expense Payments actually paid to Seller by tenants under Leases during
calendar years 2006, plus (B) the estimated aggregate amount of Operating
Expenses for which Seller was not entitled to payments for any period prior to
Closing (including vacant space, or space for which the tenant under a Lease
was not obligated to pay to the landlord any share, or such tenant's full pro
rata share, of Operating Expenses, or Operating Expenses which are not
reimbursable under tenant Leases).   Purchaser shall be responsible for
crediting or repaying to the appropriate tenants any excess Operating Expense
Payments for 2006 paid by tenants under Leases;

	

  

  
	
  Exhibit O-18

  	

  

  

(iv)          
If at Closing the precise amount of Operating Expenses paid by Seller
cannot be ascertained, then the amount of such Operating Expenses shall be
estimated by the parties at Closing; when the precise amount of Operating
Expenses paid by Seller is ascertained (but in no event later than the time for
reproration as provided below), the parties shall make an adjusting payment
between them in cash.

(4)     Percentage Rent.  Percentage rents shall be
separately prorated under each Lease on the basis of the fiscal year set forth
in each Lease for the payment of percentage rents.  All interim percentage rent
payments made before the Closing Date shall be retained by Seller until
year-end adjustment and determination of Seller's allocable share thereof,
except that interim payments received by either party for the month in which
the Closing Date occurs shall be prorated as between Seller and Purchaser based
upon the number of days in that month occurring before the Closing Date, and
the party receiving the interim payment shall remit to (if received on or after
the Closing Date) or credit (if received before the Closing Date) the other
party its proportionate share.  All amounts received by Purchaser on or after
the Closing Date as interim payments of percentage rents shall be retained by
Purchaser until year-end adjustment and determination of Seller's allocable
share thereof except to the extent provided below.  Upon final determination of
percentage rents owed by a tenant under its Lease for the fiscal year under
that Lease in which the Closing Date occurs, Seller and Purchaser shall adjust
between themselves amounts owed for such fiscal year on account of percentage
rents, and Seller's allocable share of such percentage rents shall be equal to
an amount determined by multiplying total percentage rents owed by the fraction
whose numerator is the number of days in such fiscal year before the Closing
Date, and whose denominator is the total number of days in such fiscal year. 
At the end of the fiscal year for each Lease for which percentage rents are
due, Purchaser shall promptly bill the amounts due, if necessary.  Within
fifteen (15) days after collection, Purchaser shall remit to Seller its
allocable share, less interim payments previously retained by Seller, if any. 
If Seller has retained amounts in excess of its allocable share, Seller, within
fifteen (15) days after notice from Purchaser of the excess owed Purchaser,
shall remit such excess to Purchaser.  Any percentage rent with respect to
Leases terminated before the Closing Date shall belong entirely to Seller, and
Purchaser shall remit to Seller all payments made to Purchaser after the
Closing Date on account of such percentage rents.  Any percentage rents with
respect to Leases commencing on or after the Closing Date shall belong entirely
to Purchaser.

	

  

  
	
  Exhibit O-19

  	

  

  

(b)     Reproration. 
Within one hundred twenty (120) days following the Closing Date, Purchaser
shall prepare and present to Seller a calculation of the reproration of
Operating Expenses under clause (B) of Section 16(a)(3)(ii) and other items
(including any Taxes which are the obligation of Seller hereunder), based upon
the actual amount, or then best estimate, of such items charged to or received
by the parties for the year or other applicable fiscal period.  The parties
shall use commercially reasonable efforts to agree upon and complete the
appropriate adjusting payment between them within 30 days after presentment to
Seller of Purchaser's calculation.  Seller may inspect Purchaser's books and
records related to the Property to confirm the calculation.  Such reproration
shall be final.

(c)     Service Contracts.  With respect to
Service Contracts and Construction Contracts assumed by Purchaser pursuant to
this Agreement, Seller shall receive a credit for prepaid charges and premiums
applicable to Purchaser's period of ownership and Purchaser shall receive a
credit for amounts due and unpaid under (i) such Service Contracts applicable
to Seller's period of ownership and (ii) such Construction Contracts applicable
to Seller's period of ownership and relating to the initial occupancy of
tenants under the Leases scheduled on Exhibit M attached hereto as
provided in Exhibit M.  

          (d)     Tenant
Obligations.   Responsibility for the payment of all Tenant Obligations
relating to the initial occupancy of tenants under the Leases scheduled on Exhibit
M attached hereto shall be allocated between Seller and Purchaser as
provided in Exhibit M. With respect to Tenant Obligations arising under
Leases not set forth in Exhibit M, including any New Leases, such Tenant
Obligations shall be amortized on a straight line basis over the initial term
of any such Lease and prorated between Seller and Purchaser based on the number
of days that each of Seller and Purchaser were the landlord under any such
Lease. If, as of the Closing Date, Seller shall have paid any Tenant
Obligations for which Purchaser is responsible pursuant to the forgoing
provisions, Purchaser shall reimburse Seller therefor at Closing.  If, as of
the Closing Date, Seller shall not have paid any Tenant Obligations for which
Seller is responsible, Purchaser shall receive a credit at Closing in such
amounts.

(e)     Tenant Deposits.  All unapplied tenant
security deposits (and interest thereon if required by law or contract to be
earned thereon) under Leases, as reflected in the Leases and confirmed in the
Tenant Estoppels, shall be transferred or credited to Purchaser at Closing.  As
of the Closing, Purchaser shall assume Seller's obligations related to tenant
security deposits, but only to the extent they are properly credited and
transferred to Purchaser.  Any letters of credit held as substitutes for
security deposits shall be transferred to Purchaser at Closing, if
transferable, otherwise, Seller shall hold the same on Purchaser's behalf (draw
on the same at Purchaser's direction) pending Purchaser's receipt of a
replacement letter of credit payable to Purchaser and approved by Purchaser as
to its form.  If Purchaser directs Seller to draw on any letter of credit, then
Purchaser shall indemnify, protect, defend and hold Seller harmless from and
against any loss, cost, damage, liability, claim or expense (including
reasonable attorneys' fees and court costs) arising from or relating to Seller's
having drawn upon any such letter of credit. The provisions of this Section
16(e) shall survive the Closing of the transactions contemplated by this
Agreement. 

	

  

  
	
  Exhibit O-20

  	

  

  

(f)      Utility Deposits.  Seller shall
receive a credit for the amount of deposits, if any, with utility companies
that are transferable and that are assigned to Purchaser at the Closing. If
Seller has paid utilities no more than 30 days in advance in the ordinary
course of business, then Purchaser shall be charged its portion of such payment
at Closing.  In the case of non-transferable deposits, Purchaser shall be
responsible for making any security deposits required by utility companies
providing service to the Real Property.

(g)     Owner Deposits.   Seller shall be
entitled to the return of all bonds, deposits, letters of credit, set aside
letters or other similar items, if any, that are outstanding with respect to
the Real Property that have been provided by Seller or any of its affiliates to
any governmental agency, public utility, or similar entity (collectively, "Owner
Deposits").   Purchaser shall replace such Owner Deposits and obtain
the release of Seller (or its affiliates) from any obligations under such Owner
Deposits related to the period after Closing.  To the extent that any funds are
released as a result of the termination of any Owner Deposits for which Seller
did not get a credit, such funds shall be delivered to Seller immediately upon
their receipt.

(h)     Parking Agreement.  Pursuant to the
Parking Agreement, in the event of a Shortfall the owner of the Property will
be obligated to reimburse the manager thereunder for one-half of the Shortfall,
payable in 60 equal monthly installments over the then-remaining term of the
Parking Agreement.  In the event of a Shortfall, when the amount of the
Shortfall is ascertained Seller shall pay to Purchaser an amount equal to the
portion of the Shortfall that will be payable by Purchaser pursuant to the
Parking Agreement.

(i)      Master Lease.  At
Closing Seller and Purchaser shall enter into a master lease in the from
attached hereto as Exhibit O (the "Master Lease"), pursuant to
which Seller will lease from Purchaser all of the space available for lease in
the Property as of the Closing Date (including without limitation the
"must-take" space under the Health Care Service Corporation) for a gross rental
amount equal to the sum of
(i) any Rent Abatements allocable to the period from and after the Closing
Date, plus (ii) One Million Three Hundred Sixty-Five Thousand Dollars
($1,365,000).  The term of the Master Lease shall be calculated by the parties
at Closing based on the amount of space available for lease in the Property as
of the Closing Date, and an annual gross rental rate for such available space
of Twenty-Five Dollars ($25.00) per square foot.

 (j)     Indemnity.  Purchaser hereby agrees to
indemnify, protect, defend and hold Seller harmless from and against each
obligation of Seller for which, and to the extent that, credit has been given
to Purchaser at the time of Closing.  Seller hereby agrees to indemnify,
protect, defend and hold Purchaser harmless from and against each obligation of
Purchaser for which, and to the extent that, credit has been given to Seller at
the time of Closing. The provisions of this Section 16(h) shall survive the Closing.

	

  

  
	
  Exhibit O-21

  	

  

  

17.     Default;
Termination.  (a)  If Purchaser defaults hereunder, then provided Seller is
not in default, Seller's sole remedy shall be to terminate this Agreement by
giving written notice thereof to Purchaser, whereupon the Earnest Money shall
be retained by Seller as liquidated damages as Seller's sole and exclusive
remedy, and neither party shall have any further liability or obligation to the
other except for those liabilities and obligations that expressly survive
Closing or early termination of this Agreement.  The parties acknowledge and
agree that Seller's actual damages in the event of Purchaser's default are
uncertain in amount and difficult to ascertain and that said amount of
liquidated damages was reasonably determined.

(b)     If Seller defaults hereunder prior to Closing,
then provided Purchaser is not in default, Purchaser may, at its sole election,
either:

(1)     Terminate this
Agreement, whereupon the Earnest Money shall be promptly returned to Purchaser
and neither party shall have any further liability or obligation to the other
except for those liabilities or obligations that expressly survive Closing or
early termination of this Agreement; provided, however, that if
Seller's default is the result of Seller's willful refusal to close the transaction
contemplated by this Agreement notwithstanding the satisfaction of all of the
conditions precedent to the respective obligations to close of Seller and
Purchaser hereunder, then Seller shall pay to Purchaser the sum of $2,000,000
as liquidated damages as Purchaser's sole and exclusive remedy, and neither
party shall have any further liability or obligation to the other except for
those liabilities and obligations that expressly survive Closing or early
termination of this Agreement.  The parties acknowledge and agree that
Purchaser's actual damages in the event of Seller's default are uncertain in
amount and difficult to ascertain and that said amount of liquidated damages
was reasonably determined; or,

(2)     Assert and seek
judgment against Seller for specific performance; provided, however, if the
remedy of specific performance is not legally available to Purchaser by reason
of Seller's transfer of the Property to a third party, Purchaser shall be
entitled to the prompt return of the Earnest Money, and Seller shall pay to
Purchaser the sum of $2,000,000 as liquidated damages as Purchaser's sole and
exclusive remedy, and neither party shall have any further liability or
obligation to the other except for those liabilities and obligations that
expressly survive Closing or early termination of this Agreement.  The parties
acknowledge and agree that Purchaser's actual damages in the event of Seller's
default are uncertain in amount and difficult to ascertain and that said amount
of liquidated damages was reasonably determined; 

provided that (x) the foregoing shall be Purchaser's
sole and exclusive remedies, and the exercise of one of such remedies by
Purchaser shall be deemed an election of remedies, and shall preclude Purchaser
from the exercise of the other such remedy, and (y) subject to Section 8
hereof, nothing in this subsection (b) shall limit any right or remedy
available to Purchaser after Closing in connection with any inaccuracy or
breach of any of Seller's warranties and representations set forth in Section
4.

Purchaser's
Initials: _______                                                          Seller's Initials: _______

	

  

  
	
  Exhibit O-22

  	

  

  

18.     Expenses. 
(a)  Seller and Purchaser shall each pay one-half of the escrow fee charged by
Title Company.

(b)     Seller shall pay (i) the basic premium charge
for the Title Policy, and (ii) all State of Illinois and Cook County real
estate transfer taxes due on the transfer of the Property from Seller to
Purchaser.

(c)     Purchaser shall pay (i) all recording costs
for this transaction, (ii) the City of Chicago real estate transfer taxes due
on the transfer of the Property from Seller to Purchaser, (iii) the
additional premium and other charges by Title Company for any lender's title
policy(ies), extended coverage endorsement, and for any other endorsements
requested by Purchaser to the Title Policy or to any lender's title policy.

(d)     Other closing costs shall be allocated among
Seller and Purchaser as expressly provided in this Agreement, or in the absence
of such provision, as is customary in connection with commercial real estate
transactions in the City of Chicago.  Each party shall pay its own attorneys'
costs, expenses and fees.

19.     Intermediaries.
(a)  Purchaser and Seller acknowledge and agree that Broker has acted as a
broker in connection with this transaction.  Upon Closing, Seller agrees to pay
a brokerage commission to Broker per Seller's separate agreement with Broker.

(b)     Seller represents to Purchaser, and Purchaser
represents to Seller, that except for Broker, there is no broker, finder, or
intermediary of any kind with whom such party has dealt in connection with this
transaction.

(c)     Subject to the provisions of subsection (a)
hereof, Seller agrees to indemnify and hold harmless Purchaser, and Purchaser
agrees to indemnify and hold harmless Seller, against and from all claims,
demands, causes of action, judgments, and liabilities which may be asserted or
recovered for fees, commissions, or other compensation claimed to be due to any
party with whom the indemnifying party may have dealt in connection with this
transaction, including costs and reasonable attorneys' fees incident thereto.

20.     Destruction of
Improvements.  (a)  If prior to Closing Material Damage shall occur with
respect to the Improvements, or a condemnation proceeding is commenced or
threatened in writing by a governmental or quasi-governmental agency with the
power of eminent domain ("Condemnation"), then:

(1)      Purchaser may
elect, within fourteen (14) days from and after said damage or destruction, or
notice of such Condemnation, by written notice to Seller, to terminate this
Agreement, in which event the Earnest Money shall be returned to Purchaser and,
except for the provisions of this Agreement that expressly survive Closing or
earlier termination of this Agreement, this Agreement shall be void and of no
further force and effect, and neither party shall have any liability to the
other by reason hereof; or

	

  

  
	
  Exhibit O-23

  	

  

  

(2)     In the event
Purchaser does not timely elect to terminate pursuant to subsection (1), the
transaction contemplated hereby shall be closed without a reduction in the
Purchase Price, and Seller shall assign to Purchaser Seller's rights in any
insurance proceeds or Condemnation award to be paid to Seller in connection
with such Material Damage or Condemnation, and, in the case of Material Damage,
Seller shall pay to Purchaser an amount equal to the deductible under Seller's
policy of casualty insurance and Seller shall execute and deliver to Purchaser
all required proofs of loss, assignments of claims and other similar items.  In
such event, any title exception arising by reason of said damage, destruction
or Condemnation shall be deemed a Permitted Exception.

(b)     If, prior to Closing, any of the Improvements
are damaged or destroyed and such damage is not Material Damage, Purchaser
shall remain obligated to close hereunder with no abatement in the Purchase
Price.  At Closing Seller shall assign to Purchaser Seller's rights in any
insurance proceeds to be paid to Seller in connection with such damage or
destruction, and at Closing Purchaser shall receive a credit against the
Purchase Price in an amount equal to the deductible amount under Seller's
casualty insurance policy. 

21.     General
Provisions.  (a)  This written Agreement, including all Exhibits attached
hereto and documents to be delivered pursuant hereto, shall constitute the
entire agreement and understanding of the parties, and there are no other prior
or contemporaneous written or oral agreements, undertakings, promises,
warranties, or covenants not contained herein.

(b)     This Agreement may be amended only by a
written memorandum subsequently executed by all of the parties hereto.

(c)     No waiver of any provision or condition of
this Agreement by any party shall be valid unless in writing signed by such
party.  No such waiver shall be taken as a waiver of any other or similar
provision or of any future event, act, or default.

(d)     Time is of the essence of this Agreement and
each provision hereof (including without limitation Section 10).  In the
computation of any period of time provided for in this Agreement or by law, any
date falling on a Saturday, Sunday or legal holiday shall be deemed to refer to
the next day which is not a Saturday, Sunday, or legal holiday.

(e)     In the event that any provision of this
Agreement shall be unenforceable in whole or in part, such provision shall be
limited to the extent necessary to render the same valid, or shall be excised
from this Agreement, as circumstances require, and this Agreement shall be
construed as if said provision had been incorporated herein as so limited, or
as if said provision has not been included herein, as the case may be.

(f)      Headings of sections are for convenience of
reference only, and shall not be construed as a part of this Agreement.

	

  

  
	
  Exhibit O-24

  	

  

  

(g)     This Agreement shall be binding upon and shall
inure to the benefits of the parties hereto, and their respective heirs,
executors, personal representatives, successors, and assigns, provided,
however, that (x) this Agreement may not be assigned by Purchaser without the
prior express written consent of Seller, which consent shall not be
unreasonably withheld, conditioned or delayed, (y) Purchaser may designate an
Affiliate of Purchaser to take title to the Property by written notice to
Seller, and (z) Purchaser may assign the rights of Purchaser under this
Agreement to an Affiliate of Purchaser by written notice to Seller, provided
that no such assignment shall release or discharge Purchaser from any liability
arising pursuant to this Agreement.

(h)     All notices and other communications required
or permitted hereunder shall be in writing and shall be mailed, hand delivered,
or sent by Federal Express, UPS or other recognized overnight courier service,
to the parties as follows:

In the case of notices directed to Seller:

 

Gary E. Block
and Thomas F. Ellis

The Carlyle
Group

1001
  Pennsylvania Avenue N.W.

Suite 220 South

Washington, D.C.
 20004-2505

 

and to:

 

John Grissim and Donald Kurdziel

Lincoln Property Company

120 North LaSalle Street, Suite 1750

Chicago, Illinois 60602

 

with a copy to:

 

Alvin Katz and
Joshua Hanna

Mayer, Brown,
Rowe & Maw LLP

71 South Wacker
  Drive

Chicago, Illinois 
 60606

 

and in the case of notices directed to
Purchaser:

 

Parkway Properties LP

Attention:  James M. Ingram

188 East Capitol Street, Suite 1000

Jackson, Mississippi  39201-2195

 

with a copy to:

 

Forman Perry Watkins Krutz & Tardy LLP

Attention:  Steven M. Hendrix

200 South Lamar Street, Suite 100

 

 

	
   
	
  Exhibit O-25

  	

  

  

Jackson, Mississippi 
 39201-4099

or to such additional or other persons, at such other
address or addresses as may be designated by notice from Purchaser or Seller,
as the case may be, to the other.  Notices by mail shall be sent by United
 States certified or registered mail, return receipt requested, postage
prepaid, and shall be deemed given and effective two (2) business days
following posting in the United States mails.  Notices by hand delivery shall
be deemed given and effective upon the delivery thereof.  Notices by overnight
courier shall be deemed given and effective on the first business day following
the delivery thereof to Federal Express, UPS or another recognized overnight
courier service.

(i)      This Agreement shall be governed in all
respects by the internal laws of the State of Illinois.

(j)      This Agreement may be executed in any number
of identical counterparts, any or all of which may contain the signatures of
less than all of the parties, and all of which shall be construed together as
but a single instrument.

(k)     In the event of any action or proceeding
brought by either party against the other under this Agreement, the prevailing
party shall be entitled to recover all costs and expenses including its
attorneys' fees in such action or proceeding in such amount as the court may
adjudge reasonable.  The prevailing party shall be determined by the court
based upon an assessment of which party's major arguments made or positions
taken in the proceedings could fairly be said to have prevailed over the other
party's major arguments or positions on major disputed issues in the court's
decision.  If the party which shall have 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.

(l)      This Agreement shall not be construed more
strictly against Seller merely by virtue of the fact that the same has been
prepared by Seller or its counsel, it being recognized both of the parties
hereto have contributed substantially and materially to the preparation of this
Agreement.  All words herein which are expressed in the neuter gender shall be
deemed to include the masculine, feminine and neuter genders and any word
herein which is expressed in the singular or plural shall be deemed, whenever
appropriate in the context, to include the plural and the singular.

(m)    Seller and Purchaser hereby designate the Title
Company to act as and perform the duties and obligations of the "reporting
person" with respect to the transaction contemplated by this Agreement for
purposes of 26 C.F.R. Section 1.6045-4(e)(5) relating to the requirements for
information reporting on real estate transaction closed on or after January 1,
1991.  Seller, Purchaser and Title Company shall execute at Closing a
Designation Agreement designating the Title Company as the reporting person
with respect to the transaction contemplated by this Agreement.

 

	

  

  
	
  Exhibit O-26

  	

  

  

(n)     Neither this Agreement nor any memorandum or
evidence hereof shall be recorded in any public records by Purchaser; provided,
however, that the foregoing shall not preclude the recording of a lis pendens
notice upon the filing of an action by Purchaser for specific performance of
this Agreement.   If this Agreement or a memorandum hereof is recorded by
Purchaser in violation of this Section 21(n), this Agreement shall be deemed ipso
facto canceled and terminated, the Earnest Money shall thereupon be
forfeited to Seller, and Purchaser shall have no further interest in the
Property, pursuant to this Agreement or otherwise.

(o)     Except as required by law or applicable
regulations, Purchaser and its representatives shall hold in confidence all
data and information obtained with respect to the operation and management of
the Property, whether obtained before or after the execution and delivery
hereof, and shall not use such data or information for purposes unrelated to
this Agreement or disclose the same to others except as expressly permitted
hereunder.  The preceding sentence shall not be construed to prevent Purchaser
from disclosing to its prospective lenders or investors, or to its officers,
directors, attorneys, accountants, architects, engineers and consultants to
perform their designated tasks in connection with Purchaser's inspection of the
Property, provided Purchaser advises any such party of the confidential nature
of the information disclosed.  However, neither party shall have this
obligation concerning information which: (a) is published or becomes
publicly available through no fault of either the Purchaser or Seller;
(b) is rightfully received from a third party; or (c) is required to
be disclosed by law.  In the event this Agreement is terminated or Purchaser
fails to perform hereunder, Purchaser shall promptly return to Seller any
statements, documents, schedules, exhibits or other written information
obtained from Seller in connection with this Agreement or the transactions
contemplated hereby.  In the event of a breach or threatened breach by
Purchaser or its agents, consultants and/or lenders of this paragraph, Seller
shall be entitled to an injunction restraining Purchaser from disclosing, in
whole or in part, such confidential information.  Nothing herein shall be
construed as prohibiting Seller from pursuing any other available remedy at law
or in equity for such breach or threatened breach.

	

  

  
	
  Exhibit O-27

  	

  

  

(p)     Prior to Closing neither Seller nor Purchaser
shall make any public announcement or disclosure of any information related to
this Agreement to outside brokers or third parties without the prior written
specific consent of the other; provided, however, that Seller and Purchaser may
make disclosure of this Agreement to its lenders, creditors, officers,
managers, members, employees and agents as necessary to perform its obligations
hereunder, or as required to be disclosed by law.  After Closing, either party
may announce or disclose the fact that the transaction contemplated by this
Agreement was closed, but neither party may disclose any specific information
relating to the terms of this Agreement, including without limitation the
Purchase Price or the identity of the other party, to outside brokers or third
parties without the prior written specific consent of the other except as
required to be disclosed by law.  In the event of a breach or threatened breach
by Seller, Purchaser or their agents, consultants and/or lenders of this
Section, then in addition to any other remedy available hereunder the
nonbreaching party shall be entitled to an injunction restraining the breaching
party from disclosing, in whole or in part, such confidential information.

q)     Neither party is 
acting, directly or indirectly for, or on behalf of, any person, group, entity
or nation named by any Executive Order (including the September 24, 2001,
Executive Order Blocking Property and Prohibiting Transactions With Persons Who
Commit, Threaten to Commit, or Support Terrorism) or the United States Treasury
Department as a terrorist, "Specially Designated National and Blocked Person,"
or other banned or blocked person, entity, or nation pursuant to any Law that
is enforced or administered by the Office of Foreign Assets Control, and is not
engaging in the transaction contemplated by this Agreement, directly or
indirectly, on behalf of, or instigating or facilitating the transaction
contemplated by this Agreement, directly or indirectly, on behalf of, any such
person, group, entity or nation.

(r)      Purchaser shall have, in
addition to any inspection or audit rights contained elsewhere in this
Agreement, the right to conduct a full audit of the books and records of Seller
relating to the operations and financial results of the Property, in such form
and at such time, including up to 270 days after Closing, as Purchaser may
reasonably determine is necessary to comply with applicable securities laws
requirements, including, without limitation, Regulation § 210.3-14 promulgated
under the Securities Exchange Act of 1934, as amended.  All costs incurred as a
result of Purchaser undertaking such audit shall be borne exclusively by
Purchaser; provided, however, Seller shall make available such books, records
and materials as may be reasonably requested by Purchaser or its accountants in
order to conduct such audit.  All such audit activities shall be conducted at
Seller's or its agent's place of business in a commercially reasonable fashion
during normal business hours and upon five (5) days prior notice from Purchaser
to Seller.  If requested Seller shall provide copies of available information
to Purchaser, at the cost and expense of Purchaser.

(s)     Notwithstanding anything contained herein to the
contrary, Seller acknowledges and agrees that no limited partner of Purchaser,
nor any trustee, director, holder of any beneficial interests, shareholder,
officer or employee of Purchaser or any affiliate of Purchaser (except an
affiliate to which this Agreement has been assigned) shall have any personal
liability, directly or indirectly, under this Agreement or under any
certificate, representation, warranty or other instrument delivered in
connection herewith, and Seller shall have recourse hereunder only against
Purchaser's assets.

 

[Signature page follows]

 

 

	

  

  
	
  Exhibit O-28

  	

  

  

 

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

 

SELLER:                                 LINCOLN-CARLYLE
ILLINOIS CENTER LLC, a Delaware limited liability company

 

By:    LINCOLN-CARLYLE ILLINOIS CENTER MEZZANINE LLC, a Delaware limited
liability company, its sole member

 

By:    LINCOLN-ILLINOIS
CENTER LLC, a Delaware

limited liability company, its manager

 

By:    LINCOLN
INVESTORS GROUP 3, INC., a

Texas corporation, its manager

 

 

By:                                                                         

Name:
John B. Grissim

Title:   Vice
President

 

PURCHASER:                         PARKWAY PROPERTIES LP, a Delaware limited partnership

 

By:       PARKWAY
PROPERTIES GENERAL PARTNERS, INC., a Delaware corporation, its sole general
partner

 

 

By:                                                                        

Name:                                                                  

Title:                                                                     

 

 

By:                                                                        

Name:                                                                  

Title:                                                                     

 

 

	

  

  
	
  Exhibit O-29

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