Document:

Exhibit
10.15

PURCHASE,
SALE AND LEASEBACK AGREEMENT

Flextronics International USA, Inc., a California
corporation (“Seller”), agrees to sell and convey to Westcore Properties
AC, LLC, a Delaware limited liability company (“Purchaser”), and
Purchaser agrees to buy, upon the terms and conditions hereof, that certain
tract of land consisting of approximately 8.86 acres, now known as and numbered
2241, 2243, and 2245 Lundy Avenue, San Jose, Santa Clara County, California
(the “Land”), as more particularly described on Exhibit A
attached hereto and made a part hereof, along with all rights, privileges, and
appurtenances relating or pertaining thereto, including, without limitation,
the following:

a.             Any buildings, fixtures, equipment and other
improvements situated on, over and/or under the Land (collectively, the “Improvements”);

b.             All and singular the rights and appurtenances
pertaining to the Land and/or the Improvements, including, without limitation,
all right, title and interest of Seller in and to adjacent streets, roads,
alleys, easements and rights-of-way, water rights, air rights, mineral rights,
development rights and all awards made or to be made in connection therewith
(collectively, the “Appurtenances”);

c.             All personal property (“Personal Property”)
owned by Seller (if any) located in or about the Land and Improvements and not
utilized by Seller in its operation of its business but rather utilized for
purposes of operating and maintaining the Property (as hereinafter defined),
specifically excluding the Personal Property set forth on Exhibit G
attached hereto and made a part hereof;

d.             To the extent they are transferable, all
certificates, licenses, permits, authorizations, approvals, no action letters
and similar assurances (including, without limitation, all environmental
permits, zoning variances, plat approvals, site plan approvals, development
permits and/or building permits) granted or issued by a private person or by
any governmental or quasi-governmental authority and which relate to the Land and/or
Improvements and all other intangible property and tradenames which relate to
the Land and/or Improvements (collectively, the “Intangible Property”);
and

e.             Two (2) license agreements for use of a
portion of the Improvements, as more particularly described in Exhibit E
attached hereto (collectively, the “Licenses” and, together with the
Land, Improvements, Appurtenances, Personal Property and Intangible Property,
collectively, the “Property”).

1.             Leaseback.  At
Closing (as hereinafter defined), Seller, as tenant, and Purchaser, as
landlord, shall enter into a lease of the Property substantially in the form of
Exhibit B attached hereto and made a part hereof (the “Lease”),
whereby Seller shall lease back the Land, Personal Property and Improvements
from Purchaser upon the terms and conditions set forth in the Lease.  All of Seller’s obligations hereunder shall
be subject to the condition that, on or before Closing, Purchaser shall have
executed and delivered to Escrow Agent (as hereinafter defined) duly signed
originals of the Lease.  All of Purchaser’s
obligations hereunder shall be subject to the condition that, on or before
Closing, Seller shall have executed and delivered to Escrow Agent duly signed
originals of the Lease.

2.             Purchase Price and Escrow
Deposit.  The total purchase price for the Property
shall be Nineteen Million Eight Hundred Eighty-Five Thousand Dollars
($19,885,000.00) (the “Purchase Price”).

 

The sum of $250,000.00 (the “Escrow Deposit”)
shall be deposited by Purchaser within one (1) business day after the full
execution of this Agreement by Seller and Purchaser, with Chicago Title
Insurance Company, 110 W. Taylor Street, San Jose, CA  95110, Attn: Sharman McKenna (the “Title
Company” or “Escrow Agent”). 
The balance of the Purchase Price remaining after deduction of the
Escrow Deposit and after taking into account the adjustments and prorations
provided for herein, shall be paid by federal funds wire transfer by Purchaser
to the Escrow Agent on or before the Closing. 
Upon the earlier to occur of (A) one (1) business day following the
expiration of the Review Period (as hereinafter defined), or (B) Purchaser’s
waiver of the right to terminate this Agreement during the Review Period (such
earlier date being hereinafter referred to as the “Contingency Expiration
Date”), the Escrow Deposit shall be deemed non-refundable, but shall be
applicable to the Purchase Price at Closing. 
The Title Company shall deposit the Escrow Deposit in one or more
interest bearing accounts with a bank or other financial institution reasonably
acceptable to Purchaser and Seller. 
Interest earned on the Escrow Deposit shall be deemed a portion of the
Escrow Deposit.  The Escrow Deposit shall
be applied toward the payment of the Purchase Price at the Closing, or otherwise
disbursed in accordance with this Agreement.

3.             Title Report; Survey; Additional Information.

a.             Purchaser may, at its option, obtain (i) a
current report of the title to the Property (the “Title Report”), and/or
(ii) a survey and field note legal description of the Property (the “Survey”).

b.             Seller shall furnish to Purchaser, within
five (5) business days after the Effective Date, all of the materials specified
on Exhibit C attached hereto (collectively, the “Due Diligence
Materials”) (provided such items are in Seller’s or Seller’s property
manager’s possession or control).

Purchaser acknowledges and agrees that Seller has
not verified and shall not verify the accuracy, completeness or any other
aspect of the Due Diligence Materials, the Title Report, or the Survey.  Seller shall make the Due Diligence Materials
available to Purchaser solely as an accommodation to Purchaser, without
representation or warranty of any kind or nature.

c.             Purchaser shall have thirty (30) days from
the Effective Date (as hereinafter defined) to object in writing to any title
exceptions (the “Title Objections”) shown on the Title Report and/or the
Survey by giving written notice to Seller; provided that matters not objected
to in writing by Purchaser within such 30-day period shall be deemed to be
acceptable to Purchaser and to be permitted exceptions.  Seller shall have a period of five (5)
business days after Seller’s receipt of the Purchaser’s title objection notice
(i) to remove, or agree to remove prior to the Closing, some or all of the
Title Objections and to inform Purchaser of the same, or (ii) to advise
Purchaser, in writing, that Seller will not agree to remove some or all of the
Title Objections (the “Title Response Notice”).  If Seller fails to timely deliver to
Purchaser the Title Response Notice, it shall be conclusively deemed that
Seller has elected not to remove any of the Title Objections.  The Review Period shall be automatically
extended for up to five (5) business days following the earlier of Purchaser’s
receipt of the Title Response Notice or Seller’s deemed election to not remove
any of the Title Objections.  If Seller
advises Purchaser in its Title Response Notice that it will not remove nor
agree to remove some or all of the Title Objections (or Seller is deemed to
have so advised Purchaser), then Purchaser shall have until 5:00 p.m. (Pacific
Time) on the Contingency Expiration Date to advise Seller, in writing, whether
Purchaser elects to waive such objections and proceed with the acquisition of the
Property without adjustment of the Purchase Price or to terminate this
Agreement.  If Purchaser terminates this
Agreement pursuant to this Section 3, Purchaser shall be entitled to the return
of

 2
 

 

the Escrow Deposit. 
Failure by Seller to remove (or to inform Purchaser that Seller has or
has not removed) those specified exceptions which Seller has agreed to remove
in the Title Response Notice on or before the fifth (5th) business day prior to
the Closing Date shall not be deemed a default on the part of Seller, but
Purchaser shall have the right either (x) to withdraw its objections in writing
and proceed with Closing without any adjustment to the Purchase Price, or (y)
to terminate this Agreement and be entitled to the return of the Escrow
Deposit.  Notwithstanding anything herein
to the contrary, by the Closing Date, Seller shall remove or cause to be
removed all voluntary monetary liens or encumbrances affecting the Property
other than current taxes and assessments not yet due and payable.  Any exceptions to title that are either
accepted or waived by Purchaser hereunder shall be referred to as “Permitted
Exceptions.”

d.             Seller and Purchaser each acknowledge and
agree that some of the utilities and other infrastructure servicing the
Property may be shared with adjacent property occupied by Seller, and that
easements and/or reciprocal easements may be necessary in order to allow the
continued post-Closing shared use of such infrastructure.  During the Review Period (as hereinafter
defined), Seller and Purchaser shall mutually determine in good faith whether
any such easements are in fact necessary.  
If any such easements are so determined to be necessary, at Closing
Seller and Purchaser shall execute appropriate easement agreements, in form and
substance reasonably satisfactory to both parties.

4.             Closing; Closing Documents.

a.             The Closing of this transaction (the “Closing”)
shall mean the date that the Grant Deed (as hereinafter defined) is recorded in
the official records of Santa Clara County, California and possession of the
Property is delivered to Purchaser. 
Unless otherwise agreed to in writing by the parties, escrow shall close
on or before that date which is fifteen (15) days after the Contingency
Expiration Date (the “Closing Date”). 
Upon execution of this Agreement, the parties hereto shall deposit a
copy of an executed counterpart of this Agreement with Escrow Agent and this
instrument shall serve as the instructions to Escrow Agent for the purchase and
sale contemplated hereby.  Seller and
Purchaser agree to execute such additional and supplementary escrow
instructions as appropriate to enable the Escrow Agent to comply with the terms
of this Agreement; provided, however, that in the event of any
conflict between this Agreement and any supplementary escrow instructions, this
Agreement shall control.

b.             Possession of the Property shall be delivered
to Purchaser at Closing free and clear of any and all liens, restrictions or
other encumbrances other than the Permitted Exceptions, as provided above.  Seller agrees to deliver at Closing, the
following:  (i) a duly executed grant
deed conveying the Property to Purchaser in the form attached hereto as Exhibit
B (the “Grant Deed”); (ii) evidence of Seller’s authority to
consummate the contemplated transaction reasonably satisfactory to the Title
Company and Purchaser; (iii) a non-foreign certificate satisfactory for
compliance with Internal Revenue Service reporting purposes and a duly executed
California Form 593-C; (iv) an affidavit in form reasonably and customarily
required by the Title Company sufficient for the Title Company to issue to
Purchaser an ALTA Owner’s Policy of Title Insurance (Form B, rev. 10/17/70) on
the Property in the amount of the Purchase Price (the “ALTA Title Policy”);
(v) the duly executed Lease; (vi) two (2) original counterparts of a general
assignment, in the form attached hereto as Exhibit E for the Licenses,
Permits and Warranties, duly executed by Seller; (vii) two (2) originals of a
bill of sale, in the form attached hereto as Exhibit F, transferring the
Personal Property to Purchaser, duly executed by Seller; and (viii) any other
documents as may be necessary to comply with Seller’s obligations under this
Agreement.

 3
 

 

c.             At Closing, the Purchase Price shall be paid
by Purchaser to Seller by federal funds wire transfer or other funds acceptable
to Seller, subject to adjustments under Section 6 hereof. At Closing, Purchaser
agrees to deliver to Seller a duly executed original of the Lease together with
any notice or memorandum of lease required thereby, and any other documents as
may be necessary to comply with Purchaser’s obligations under this Agreement.

5.             Liquidated Damages.

a.             SHOULD
PURCHASER DEFAULT IN ITS MATERIAL OBLIGATIONS UNDER THIS AGREEMENT, SELLER
SHALL HAVE THE RIGHT TO TERMINATE THIS AGREEMENT UPON WRITTEN NOTICE TO ESCROW
AGENT AND TO RECEIVE THE ESCROW DEPOSIT THERETOFORE PAID BY PURCHASER UNDER
THIS AGREEMENT WHICH AMOUNT IS NOT INTENDED TO BE A FORFEITURE OR
PENALTY WITHIN THE MEANING OF CALIFORNIA CIVIL CODE SECTIONS 3275 OR 3369, BUT
IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLER PURSUANT TO CALIFORNIA
CIVIL CODE SECTIONS 1671, 1676 AND 1677 (AS SAID LAWS MAY BE MODIFIED, REPLACED
AND SUPPLEMENTED) AND SUCH SUM SHALL BE PAID TO AND RETAINED BY SELLER AS SELLER’S SOLE AND
EXCLUSIVE REMEDY AGAINST PURCHASER, AT LAW OR IN EQUITY; PROVIDED HOWEVER, THAT
THE REMEDY OF LIQUIDATED DAMAGES SET FORTH IN THIS SECTION SHALL NOT LIMIT, AND
SHALL NOT BE DEEMED TO LIMIT, IN ANY WAY THE REMEDIES AVAILABLE TO SELLER UNDER
SECTIONS 8.a AND 14 OF THIS AGREEMENT, AND/OR SELLER’S RIGHT TO RECOVER ACTUAL
DAMAGES FOR PURCHASER’S BREACH OF ANY OF THE WARRANTIES AND REPRESENTATIONS OF
PURCHASER CONTAINED IN THIS AGREEMENT, PROVIDED THAT SUCH BREACH IS DISCOVERED
BY SELLER FOLLOWING DELIVERY OF THE DEED AND AS A RESULT OF SUCH BREACH SELLER
IS REQUIRED TO RETURN ALL OR ANY PORTION OF THE PURCHASE PRICE TO A
CLAIMANT.  SELLER HEREBY WAIVES THE
PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 3389.  THE PARTIES HAVE AGREED THAT SELLER’S ACTUAL
DAMAGES, IN THE EVENT OF A MATERIAL DEFAULT BY PURCHASER, WOULD BE EXTREMELY
DIFFICULT OR IMPRACTICABLE TO DETERMINE. 
THEREFORE, THE PARTIES ACKNOWLEDGE THAT THE ESCROW DEPOSIT HAS BEEN
AGREED UPON, AFTER NEGOTIATION, AS THE PARTIES’ REASONABLE ESTIMATE OF SELLER’S
DAMAGES AND AS SELLER’S SOLE AND EXCLUSIVE REMEDY AGAINST PURCHASER, AT LAW OR
IN EQUITY, IN THE EVENT OF A MATERIAL DEFAULT UNDER THIS AGREEMENT ON THE PART
OF PURCHASER.  SELLER AND PURCHASER ACKNOWLEDGE
THAT THEY HAVE READ AND UNDERSTAND THE PROVISIONS OF THIS SECTION AND BY THEIR
INITIALS IMMEDIATELY BELOW AGREE TO BE BOUND BY ITS TERMS.

	
  Seller’s Initials

  	
   

  	
  Purchaser’s Initials

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

b.             Should Seller default in its material obligations
under this Agreement for any reason, Purchaser, as its sole right and remedy at
law or in equity, may either (i) terminate this Agreement upon written notice
to Seller, whereupon Purchaser shall be entitled to receive an immediate return
of the Escrow Deposit theretofore paid under this Agreement, plus, within five
(5) business days after receipt of reasonable evidence verifying such costs,
all of Purchaser’s actual out of pocket costs incurred in connection with this
transaction and Purchaser’s due diligence with respect to the Property up to
the maximum of $100,000, or (ii) seek the remedy of specific performance
against Seller.

 4
 

 

c.             In the event of any dispute or either party
hereto defaults (or is alleged to have defaulted) in the performance of any of
the terms, covenants, agreements or conditions contained in this Agreement, and
the other party hereto places the enforcement of this Agreement, or any part
hereof, in the hands of attorneys, or files suit upon the same, the
non-prevailing party agrees to pay the reasonable attorneys’ fees and all court
costs of the prevailing party.

6.             Prorations; Closing Costs. 
Seller shall pay any transfer taxes assessed by the County of Santa
Clara.  Seller and Purchaser shall each
pay fifty percent (50%) of any transfer taxes assessed by the City of San
Jose.  Any other transfer, documentary,
sales, use, registration, value-added and real estate transfer taxes and any
similar taxes, recording fees, and related fees incurred in connection with
this Agreement and the transactions contemplated hereby and thereby shall be
prorated in accordance with county custom. 
Notwithstanding the preceding sentences, any real estate taxes and
assessments or other municipal charges due and payable as of the Closing shall
be paid in full at Closing by Seller, and all other such real estate taxes,
assessments, municipal charges, other recurring expenses normal to the
operation and maintenance of the Property and not payable by Seller as the
tenant under the Lease, and other items customarily adjusted between buyers and
sellers in the vicinity of the Property, shall be prorated as of the Closing; provided,
however, Seller shall be
solely responsible for the payment of all (a) water, sewer and utility charges
and other recurring expenses which are payable by Seller as the tenant under
the Leases and (b) all supplemental taxes levied, assessed or otherwise accrued
which are applicable to any period of time prior to the Closing Date.  If the tax figures used for the closing
adjustments are based on estimated figures, the parties agree to make any
necessary adjustments between themselves when the actual figures for the year
of Closing are known.  All agreements
between Seller and Purchaser set forth in this Agreement relating to the
proration and payment of any items set forth in this Section 6 and any
subsequent adjustment of amounts for such items following the Closing shall
survive the Closing and shall not merge therein.  Except as is otherwise provided herein, each
party shall pay its own attorneys’ fees, and all other closing costs shall be
allocated as is customary in the vicinity of the Property.  Seller shall pay 50% of all escrow costs and
100% of the title insurance premiums for an owner’s standard form California
Land Title Association title insurance policy, issued by the Title Company in
the amount of the Purchase Price. 
Purchaser shall pay 50% of all escrow costs and 100% of the costs of (i)
any endorsements to such title insurance policy (excluding those endorsements,
if any, required by the Title Company to be obtained in order to cause the
removal from title of the Title Objections which Seller has agreed to remove in
accordance with the provisions of Section 3.c above, the cost of which shall be
paid by Seller) and/or any additional costs for an ALTA form policy, and (ii)
the Title Report, the Survey, and any due diligence performed by or at the
request of Purchaser.

7.             Damage and Condemnation.

a.             If, prior to the Closing, (i) the Property is
destroyed or damaged and such destruction or damage shall cost more than
$250,000.00 to repair, (ii) the Property becomes subject to a taking by virtue
of eminent domain, or (iii) any casualty or condemnation proceeding affecting
the Property would allow Seller, as tenant, to terminate any or all of the
Leases or abate rent as a result of such occurrence (unless Seller waives, in
writing, such right to abate rent), Purchaser may terminate this Agreement,
whereupon the Title Company shall return the Escrow Deposit to Purchaser
immediately.  If any destruction or
damage shall cost less than $250,000.00 to repair, or if Purchaser otherwise
does not elect to terminate this Agreement hereunder, then Purchaser shall
close on the purchase of the Property without adjustment of the Purchase Price
except as otherwise set forth in this Section 7, and Seller shall assign to

 5
 

 

Purchaser all interest of Seller in and to any
condemnation awards or insurance proceeds which may be payable to Seller on
account of such occurrence; provided that, if any such awards or proceeds are
actually paid prior to the Closing, Seller shall be entitled to retain such
awards or proceeds and Purchaser shall be entitled to a credit against the
Purchase Price in an amount equal to the amount of such awards or proceeds
retained by Seller up to the amount of the Purchase Price.

b.             For purposes of any repairs or replacements
of non-material damage under this Section 7.b, the Closing Date may be
extended, at Purchaser’s or Seller’s election, for a reasonable time to allow
for the parties to ascertain the cost of such repairs or replacements to be
made, not to exceed thirty (30) days.

8.             Purchaser Review Period and Termination Rights.

a.             Purchaser shall have a period of time (the “Review
Period”) consisting of thirty (30) days following the Effective Date, in
which to investigate and review the status of the physical condition of the
Property.  Purchaser shall have the
right, upon at least 24 hours prior notice to Seller and at reasonable times,
to go on the Property and conduct all inspections, tests, and other studies
that Purchaser deems necessary or advisable; provided that all such inspections
shall be at Purchaser’s sole risk and expense and if the Closing does not
occur, the Property shall be restored substantially to its present condition in
the event of any damage caused by any such tests or studies. Purchaser shall
not materially disturb the ongoing activities of Seller at the Property.  All costs and expenses related to Purchaser’s
inspection of the Property shall be paid by Purchaser, and Purchaser agrees to
indemnify and hold Seller harmless from and against all such costs and
expenses.  Purchaser shall not permit any
liens to attach to the Property by the reason of the exercise of Purchaser’s
rights hereunder.  Purchaser will indemnify
and hold Seller harmless from and against any and all liens by contractors,
subcontractors, materialmen or laborers performing work or tests for Purchaser,
and from and against any and all claims for all losses, costs and/or damages by
Seller and/or third parties arising out of the conduct of such work and tests
and/or any other activities of Purchaser or Purchaser’s employees or agents on
the Property; provided, however, any such indemnity and defense
will not include any claims or damages caused by the negligence or willful
misconduct of Seller, any pre-existing conditions, or the effects of the
discovery of the presence of any hazardous materials (provided that Purchaser
exercises due care upon the discovery of any hazardous materials and shall take
all commercially reasonable appropriate measures to prevent any migration of
such hazardous materials).  Upon Seller’s
written request and without any warranty of any kind nor the ability of Seller
to rely thereon or otherwise re-use such materials, Purchaser shall make
available to Seller copies of any third party reports or studies prepared on
behalf of Purchaser with respect to its investigation of the Property.  Prior to entering the Property, Purchaser
shall provide to Seller a certificate of insurance evidencing comprehensive
general liability coverage in the amount of at least $1,000,000, naming Seller
as an additional insured with respect to the Property.  The provisions of this Section 8.a shall
survive the Closing or any earlier termination of this Agreement for a period
of one (1) year.

b.             Seller hereby agrees that, if Purchaser shall
not be satisfied (in Purchaser’s sole and subjective discretion) with the due
diligence performed pursuant to the foregoing Section 8.a, Purchaser may
terminate this Agreement by giving written notice of termination to Seller
before the expiration of the Review Period. 
If the termination notice provided in this Section 8.b is timely given,
then in such event, the Agreement will terminate and the Title Company shall be
obligated to immediately return the Escrow Deposit to Purchaser.  If such termination notice is not timely
given, then Purchaser shall be deemed to

 6
 

 

have disapproved of such due diligence and in such event, this
Agreement shall automatically terminate and the Escrow Agent shall be obligated
to immediately return the Escrow Deposit to Purchaser.  If Purchaser is satisfied with such due
diligence, Purchaser may waive the foregoing termination right by giving written
notice of such waiver to Seller before the expiration of the Review Period.

c.             Following the Contingency Expiration Date,
Purchaser’s obligation to consummate the purchase of the Property shall be
subject to the satisfaction of the following conditions (collectively, the “Closing
Conditions”):

(1)           All of Seller’s representations and warranties contained in or made
pursuant to this Agreement shall have been true and correct in all material
respects when made and, as of the Closing Date, such representations and
warranties shall be true and correct in all material respects and no fact or
condition shall exist which is materially and adversely inconsistent with such
representations and warranties.

(2)           The physical condition of the Property shall be substantially the same
on the Closing Date as on the Effective Date, reasonable wear and tear and
(subject to Section 7 above) loss by casualty excepted, and, as of the Closing
Date, there shall be no litigation or administrative agency or other
governmental proceeding of any kind whatsoever, pending or threatened, which
after Closing would, in Purchaser’s reasonable discretion, materially and
adversely affect the value of the Property or the ability of Purchaser to
operate the Property as intended by Purchaser.

(3)           [Intentionally Omitted.]

(4)           Seller delivering to Purchaser all documents required for the Closing
hereunder, including without limitation, the documents and instruments
specified in Section 4.b, above.

(5)           At the Closing the Title Company shall be irrevocably committed to
issue to Purchaser the ALTA Title Policy pursuant to Section 4.b, above.

(6)           On the Closing Date, Seller shall deliver to Purchaser (or shall have
previously delivered) originals, or copies to the extent originals are not
available, of the Plans (defined in Exhibit B); and all operating
manuals, service records and similar documents for the elevators, HVAC and
other equipment and building systems.

(7)           All other conditions to Purchaser’s
obligation to consummate the Closing set forth in the Agreement shall be
satisfied by the Closing Date.

d.             If any of the Closing Conditions are not
satisfied or waived, in writing, by Purchaser by the Closing Date, Purchaser
shall notify Seller in writing of those Closing Conditions which have not been
satisfied or otherwise waived by Purchaser (the “Closing Conditions Failure
Notice”).  Seller shall have five (5)
business days after Purchaser has delivered to Seller the Closing Conditions
Failure Notice (and the Closing Date shall be extended if necessary to give
Seller such five (5) business day period) to notify Purchaser in writing of
Seller’s election either to (i) take such actions as may be necessary to cure
such matters to Purchaser’s satisfaction prior to the Closing (as same may be
extended), or (ii) advise Purchaser that Seller will not cure such matters (the
“Seller’s Conditions Notice”).  If
Seller elects not to

 7
 

 

cure such matters, then within five (5) business days after Purchaser’s
receipt of the Seller’s Conditions Notice (and the Closing Date shall be
extended if necessary to give Purchaser such five (5) business day period),
Purchaser, may at its option either (x) proceed with the Closing without
adjustment of the Purchase Price, or (y) terminate this Agreement by delivering
written notice thereof to Seller and have the Escrow Deposit returned to
Purchaser, as Purchaser’s sole and exclusive remedy at law or in equity.  If Purchaser elects to terminate this
Agreement, neither Seller nor Purchaser shall have any further liability or
obligations hereunder.  If Seller elects
to cure such matters as set forth in the Closing Conditions Failure Notice,
Seller shall promptly use diligent efforts to cure same and the Closing Date
shall be extended for a period of time acceptable to both Seller and Purchaser
to enable Seller to accomplish same.  Failure by Purchaser to notify Seller of the
approval or waiver by Purchaser of any of the contingencies set forth in this
Agreement shall be deemed disapproval by Purchaser of such matters.

9.             Representations, Warranties
and Covenants of Purchaser.  Purchaser represents and warrants to and
covenants with Seller as follows:

a.             Purchaser is a limited liability company duly
organized, validly existing and in corporate and tax good standing under the
laws of the state of its incorporation.

b.             Purchaser has all requisite power and
authority to execute and deliver this Agreement and any associated agreements
to which it is a party and to perform its obligations hereunder and thereunder,
without the joinder or consent of any other person or other party.

10.          Representations, Warranties and Covenants of Seller. 
Seller represents and warrants to and covenants with Purchaser as
follows:

a.             Seller has good record title to the Property.

b.             Seller is a corporation duly organized,
validly existing and in corporate and tax good standing under the laws of the
state of its incorporation.  Seller has
all requisite power and authority to execute and deliver this Agreement and any
associated agreements to which it is a party and to perform its obligations
hereunder and thereunder, without the joinder or consent of any other person or
other party.

c.             There is no pending condemnation or similar
proceeding affecting the Property.

d.             There are no legal actions, suits or other
legal or administrative proceedings pending which would affect Seller’s
interest in the Property.

e.             Other than the Licenses, there are no leases,
licenses, subleases or occupancy agreements with respect to the Property in
effect and no person or party other than Purchaser has any right or option to
lease, purchase, occupy, use or possess the Property, or any portion thereof or
any interest therein.

f.              To Seller’s actual knowledge, without duty of
investigation, there are no material physical defects of the Property or any
off-site improvements and all such items are in good operating condition and
repair and in compliance with all applicable governmental laws and regulations.

 8
 

 

g.             Seller has no knowledge of any previous or
present release, remediation, generation, storage, disposal or existence on, in
or under the Property of any hazardous materials and Seller has not generated,
released, stored, or disposed of any hazardous materials on, in or under the
Property in violation of any laws, statutes, orders or regulations.

h.             All Contracts (as defined in Exhibit C)
held by Seller as tenant under the Leases shall be maintained by Seller, as
tenant, in accordance with the provisions of the Leases.

i.              There are no property or asset management
agreements in effect with respect to the Property.

11.          Limitation of Survival.  The covenants, representations
and warranties of Purchaser and Seller set forth above and contained elsewhere
in this Agreement shall survive and be enforceable after the Closing for a
limited period of nine (9) months following the Closing (the “Survival
Period”).

EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES MADE BY SELLER IN
SECTION 10 HERETO, SELLER MAKES NO REPRESENTATION OR WARRANTY, EXPRESS
OR IMPLIED, CONCERNING THE PROPERTY INCLUDING WITHOUT LIMITATION WITH RESPECT
TO ANY HAZARDOUS SUBSTANCE OR ENVIRONMENTAL MATTERS, IT BEING SPECIFICALLY
UNDERSTOOD BY PURCHASER THAT, EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH IN SECTION
10 HERETO, THE PROPERTY IS BEING SOLD AND TRANSFERRED “AS IS” IN ALL
RESPECTS.  SELLER SPECIFICALLY DISCLAIMS
ANY WARRANTY OF MERCHANTABILITY OR SUITABILITY OR FITNESS FOR ANY PARTICULAR
PURPOSE OF PURCHASER’S, WHETHER OR NOT SELLER HAS BEEN MADE AWARE OF ANY SUCH
PURPOSE.

12.          Limitation of Liability. 
Seller shall not be liable for any amounts with respect to the breach of
a representation, covenant, or warranty unless and until such amounts shall
exceed, in the aggregate, fifty thousand dollars ($50,000) (the “Limitation
Amount”) (in which case Seller shall only be liable with respect to the
excess over the Limitation Amount). 
Seller shall have no liability with respect to any such matter for
individual amounts of less than ten thousand dollars ($10,000) until such
amounts, in the aggregate, exceed the Limitation Amount, in which case Seller
shall only be liable with respect to the excess over the Limitation
Amount.  In no event shall Seller’s
liability with respect to the breach of covenants, representations and
warranties exceed twenty-five percent (25%) of the Purchase Price in the
aggregate.

13.          Due Diligence. 
Purchaser agrees that it will have engaged in the entire due diligence
effort it deems appropriate as of the end of the Review Period.  The sale of the Property is on an “AS IS,
WHERE IS” basis, and is based solely upon the results of such due diligence
without reliance upon the representations or statements of Seller, other than
as expressly set forth in Section 10.

14.          Brokers. 
Purchaser agrees to pay a commission to Commercial Property
Services/CORFAC International (the “Broker”), which commission shall be
payable at the Closing pursuant to a separate written agreement between
Purchaser and the Broker.  It is agreed
that if any other claims for brokerage commissions or fees are ever made
against Seller or Purchaser in connection with this transaction, all such claims
shall be handled and paid by the party whose commitments form the basis of

 9
 

 

such claim. 
It is further agreed that each party agrees to indemnify and hold
harmless the other from and against any and all other such claims or demands
with respect to any brokerage fees or agents’ commissions or other compensation
asserted by any other person, firm or corporation in connection with this
Agreement or the transactions contemplated hereby insofar as any such claim or
demand is based upon a contract, commitment or other actions of the
indemnifying party.  The provisions of
this Section shall survive the Closing.

15.          Assignment of Agreement.  Without being relieved of any
liability under this Agreement, Purchaser reserves the right to take title to
the Property in a name or nominee other than Purchaser.  Purchaser may assign its rights and delegate
its obligations under this Agreement to (i) any affiliated or related entity of
Purchaser, or (ii) any entity in which Purchaser or an affiliated or related
entity of Purchaser is a member or partner, without first obtaining Seller’s
consent thereto; provided that, Purchaser delivers to Seller prior written
notice thereof and a copy of any assignment agreement.  No assignment by Purchaser shall relieve
Purchaser of its obligations under this Agreement.

16.          Purchaser Audit Rights.  To
the extent not previously delivered to Purchaser, Seller shall provide, or
cause to be provided, to Purchaser and Dividend Capital copies of and shall
grant Purchaser and Dividend Capital access to, such factual information
relating to the Property (the “Disclosure Information”) that is
reasonably requested by Purchaser and Dividend Capital and is in Seller’s
possession or control, to enable Dividend Capital to make the necessary filings
as and when such filings with the Securities and Exchange Commission are
required and to otherwise permit Dividend Capital to comply with laws
applicable to public companies, generally. 
Seller shall have no obligation to assume any liability as a result of such
cooperation, and Purchaser acknowledges and agrees that all Disclosure
Information delivered by Seller to Purchaser, Dividend Capital and its auditor
will be delivered as a convenience only and that any reliance on or use of such
Disclosure Information shall be at the sole risk of Purchaser, Dividend Capital
and its auditor. Purchaser, on behalf of itself and Dividend Capital,
acknowledges and agrees that none of Seller, any affiliate of the Seller or the
person or entity that prepared such Disclosure Information delivered to
Purchaser, Dividend Capital or its auditor shall have any liability to
Purchaser, Dividend Capital or it auditor for any inaccuracy in or omission
from any Disclosure Information.  The
obligations of Purchaser under this Section 16 shall survive the Closing.

17.          Miscellaneous.

a.             Time is of the essence of this Agreement.

b.             This Agreement constitutes the entire
agreement of the parties hereto, supersedes any prior agreement with respect to
the subject matter hereof, and may not be modified, amended or supplemented
except by a written agreement signed by Seller and Purchaser and dated
subsequent to the date hereof.  If any
provision of this Agreement shall be held invalid or unenforceable, the remainder
of the Agreement shall not be affected thereby. 
This Agreement may not be recorded.

c.             This Agreement shall be enforced, construed
and interpreted under the laws of the State of California.

d.             Any notice hereunder must be in writing, and
shall be effective (i) three (3) days after deposit in the United States Mail,
Certified Return Receipt Requested, (ii) one (1) day after deposit

 10
 

 

with a recognized overnight courier service, or
(iii) upon receipt (or refusal of receipt) if delivered via personal delivery
or facsimile, addressed to the parties as set forth below (or such other
address as may be designated from time to time, in writing, as provided in this
Section):

	
  To Seller:

  	
   

  	
  Flextronics International USA, Inc.

  
	
   

  	
   

  	
  2090 Lundy Avenue

  
	
   

  	
   

  	
  San Jose, CA 95131

  
	
   

  	
   

  	
  Attention: Timothy Stewart

  
	
   

  	
   

  	
  Phone number: 408.576.7746

  
	
   

  	
   

  	
  Facsimile number: 408.428.0859

  
	
   

  	
   

  	
  E-mail: tim.stewart@flextronics.com

  
	
   

  	
   

  	
   

  
	
  with a copy to:

  	
   

  	
  Robins, Kaplan, Miller & Ciresi L.L.P.

  
	
   

  	
   

  	
  800 Boylston Street

  
	
   

  	
   

  	
  Boston, MA 02199

  
	
   

  	
   

  	
  Attention: Mark S. LaConte, Esq.

  
	
   

  	
   

  	
  Phone number: 617.859.2785

  
	
   

  	
   

  	
  Facsimile number: 617.859.2726

  
	
   

  	
   

  	
  E-mail: mslaconte@rkmc.com

  
	
   

  	
   

  	
   

  
	
  To Purchaser:

  	
   

  	
  WESTCORE PROPERTIES AC, LLC

  
	
   

  	
   

  	
  235 Pine Street, Suite 1150

  
	
   

  	
   

  	
  San Francisco, California 94104

  
	
   

  	
   

  	
  Attention: Neil Johnson

  
	
   

  	
   

  	
  Phone number: 415-391-8400

  
	
   

  	
   

  	
  Facsimile number: 415-391-8406

  
	
   

  	
   

  	
  E-mail: njohnson@westcore.net

  
	
   

  	
   

  	
   

  
	
  with a copy to:

  	
   

  	
  WESTCORE PROPERTIES AC, LLC

  
	
   

  	
   

  	
  4445 Eastgate Mall, Suite 210

  
	
   

  	
   

  	
  San Diego, California 92121

  
	
   

  	
   

  	
  Attention: Diane Robertson

  
	
   

  	
   

  	
  Phone number: (858) 625-4100 ext. 223

  
	
   

  	
   

  	
  Facsimile number: (858) 678-0060

  
	
   

  	
   

  	
  E-mail: drobertson@westcore.net

  
	
   

  	
   

  	
   

  
	
  with a copy to:

  	
   

  	
  Real Estate Law Group, LLP

  
	
   

  	
   

  	
  2330 Marinship Way, Suite 211

  
	
   

  	
   

  	
  Sausalito, California 94965

  
	
   

  	
   

  	
  Attention: Bonnie Frank, Esq.

  
	
   

  	
   

  	
  Phone number: 415-331-2555

  
	
   

  	
   

  	
  Facsimile number: 415-331-7272

  
	
   

  	
   

  	
  E-mail: bfrank@relg.com

  

 

e.             The “Effective Date” of this Agreement
shall be the date on which the Title Company shall have received a copy of this
Agreement signed by the Seller and Purchaser, and the Escrow

 11
 

 

Deposit.  The
Title Company’s receipt shall be conclusive as to the Effective Date, and the
Title Company shall notify Purchaser and Seller of the Effective Date.

f.              This Agreement may be executed in
counterparts, each of which will be an original and all of which taken together
shall constitute one contract.  The
parties agree that the delivery of an executed copy of this Agreement by
facsimile shall be legal and binding and shall have the same full force and
effect as if an original of this Agreement had been delivered.  Facsimile signatures of this Agreement shall
be binding upon the parties, provided that hard copies of such signatures are
delivered (as specified herein) within forty-eight (48) hours thereafter.

g.             If any date set forth in the Agreement for the
performance of any obligation by Purchaser or Seller for the delivery of any
instrument or notice should be on a Saturday, Sunday or legal holiday, the
compliance with such obligation or delivery shall be deemed acceptable on the
next business day following such Saturday, Sunday, or legal holiday.  For purposes of this paragraph “legal
holiday” shall mean any state or federal holiday for which financial
institutions or post offices are generally closed in the vicinity of the
Property, for the observance thereof.

h.             This Agreement and the terms and provisions
hereof shall inure to the benefit of and be binding upon the parties hereto and
their respective heirs, legal representatives, successors and permitted assigns
wherever the context so requires or admits.

i.              Seller agrees that Purchaser shall have no
liability whatsoever as a successor in interest for any contracts or agreements
entered into by Seller prior to Closing in connection with its ownership or
operation of the Property or the use, occupancy or construction of the
Improvements located thereon; and Seller shall fully perform all of its
commitments and obligations under any such contracts and agreements and shall
indemnify and defend Purchaser against (by counsel reasonably acceptable to
Purchaser) and hold Purchaser and its partners and members harmless from any
and all losses, costs, damages, liabilities and expenses, including without
limitation reasonable attorneys’ and experts’ fees and costs and brokerage
commissions with respect to such contracts and agreements referenced herein.

j.              Seller and Purchaser shall cooperate with one
another at reasonable times and on reasonable conditions and shall execute and
deliver such instruments and documents as may be necessary in order fully to
carry out the intent and purposes of the transaction contemplated hereby.  Except for such instruments and documents as
the parties are obligated to deliver by the terms of this Agreement, such
cooperation shall be without additional cost or liability.  The provisions of this section shall survive
the Closing.

k.             Purchaser shall have the right (provided
Purchaser has notified Seller in writing at least seven (7) days prior to the
date set for the Closing) to assign its rights (but not delegate its
obligations) under this Agreement to an accommodator, pursuant to an agreement
reasonably acceptable to both Seller and Purchaser, which will enable Purchaser
to accomplish a deferred exchange in accordance with the provisions of Section
1031 of the Internal Revenue Code, as amended. 
The parties shall cooperate with one another in such exchange provided
that: (i) Seller shall not incur any additional liability or financial
obligation as a consequence of Purchaser’s exchange; (ii) any such exchange
shall in no way increase the amount of monies for which Seller is obligated to
pay under the provisions of this Agreement; (iii) Seller shall not be required
to accept title (beneficial or legal) to any parcel or parcels of other real
property;

 12
 

 

(iv) Purchaser shall defend, protect, indemnify and
hold Seller harmless from any and all liabilities, claims, losses, or expenses
which Seller incurs, or to which Seller may be exposed, as a result of Seller’s
participation in the exchange contemplated herein, including, but not limited
to, reasonable attorneys’ fees and other costs of defense; and (v) all
covenants of Purchaser as set forth in this Agreement shall not be affected or
limited by Purchaser’s use of an exchange accommodator.  The performance by the parties of their
obligations under this Agreement shall not be contingent upon Purchaser’s
ability to effectuate an exchange, provided that Seller does not take any acts
or fail to take any acts which materially and adversely affects Purchaser’s
ability to effectuate such an exchange.

l.              If for any reason, any provision of this
Agreement shall be held to be unenforceable, it shall not affect the validity
or enforceability of any other provision of this Agreement and to the extent
any provision of this Agreement is not determined to be unenforceable, such
provision, or portion thereof, shall be, and remain, in full force and effect.

m.            The acceptance of a deed by Purchaser or its
nominee or assignee, as the case may be, shall be deemed to merge and be a full
performance and discharge of every agreement and obligation of Seller herein
contained or expressed, except such as are, by the express terms hereof, to be
performed after the delivery of said deed, including, but not limited to, the
continued effectiveness of Seller’s representations and warranties contained
herein which shall neither terminate nor be deemed merged until the end of the
Survival Period (provided no claim has been brought by Purchaser prior to the
end of the Survival Period).

[SIGNATURE PAGE TO FOLLOW]

 13
 

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed as of the dates indicated below.

	
  

  	
   

  	
  SELLER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  FLEXTRONICS INTERNATIONAL USA, INC.,

  	
   

  	
   

  
	
   

  	
   

  	
  a California corporation

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date executed by Seller:
                              ,
  2006

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PURCHASER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  WESTCORE PROPERTIES AC, LLC,

  	
   

  	
   

  
	
   

  	
   

  	
  a Delaware limited liability company

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date executed by Purchaser:                              ,
  2006

  	
   

  	
   

  
								

 

 14
 

 

The undersigned hereby acknowledges receipt of a
fully executed copy of this Agreement and the “Escrow Deposit” required
hereunder, and agrees to perform the duties of the Title Company, including
disbursement of the Escrow Deposit, strictly in accordance with the terms of
this Agreement.

	
   

  	
  TITLE COMPANY:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CHICAGO TITLE
  INSURANCE COMPANY

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
  , 2006

  
						

 

 15

 

EXHIBIT A

LEGAL
DESCRIPTION OF LAND

All
that certain Real Property in the City of San Jose, County of Santa Clara, State
of California, described as follows:

PARCEL
ONE:

Beginning
at the intersection of the Northeasterly line of that certain 5.163 acre parcel
of land with the Southeasterly line of that certain 30 foot Right-of-Way, for
ingress and egress and public utilities, as shown on that certain Map entitled,
Record of Survey in the Milpitas Rancho, Santa Clara County, California, for
Jacinto Siquig and Royal Bear Broadcosters Inc.”, which Map was filed for
Record in the Office of the Recorder of the County of Santa Clara, State of
California on February 24, 1966, in Book 205 of Maps, at Page 44; thence from
said Point of Beginning and along the Southeasterly line of said 30 foot
Right-of-Way, S. 51 deg. 34’ 50” W. 100.00 feet to a point; thence leaving last
said line and parallel with the Northeasterly line of said 5.163 acre parcel of
land, S. 38 deg. 35’ E. 200.00 feet to a point; thence parallel with the said
Southeasterly line of said 30 foot Right-of-Way, N. 51 deg. 34’ 50” E. 100.00
feet to a point on the Northeasterly line of said 5.163 acre Parcel of Land;
thence along the Northeasterly line of said 5.163 acre parcel of land, N. 38
deg. 35’ W. 200.00 feet to the Point of Beginning.

PARCEL
TWO:

Commencing
at the intersection line of the Northeasterly line of  that certain 5.163 acre parcel of land, with
the Southeasterly line of that certain 30 foot Right-of-Way, for ingress and
egress and public utilities as shown on that Map entitled, Record of Survey in the
Milpitas Ranch, Santa Clara County, California, for Jacinto Siquig and Royal
Bear Broadcaster, Inc, which Map was filed for Record in the Office of the
Recorder of the County of Santa Clara, State of California on February 24, 1966
in Book 205 of Maps, at Page 44; thence along the Southeasterly line of said 30
foot Right-of-Way, S. 51 deg. 34’ 50” W. 100.00 feet to the True Point of Beginning
of this description; thence from said True Point of Beginning and leaving last
said line and parallel with the Northeasterly line of said 5.163 acre parcel of
land, S. 38 deg. 35’ E. 200.00 feet to a point; thence parallel with said
Southeasterly line of said 30 foot Right-of-Way, N. 51 deg. 34’ 50” E. 100.00
feet to a point on the Northeasterly line of said 5.163 acre parcel of land, S.
38 deg. 35’ E. 345.16 feet to the most Easterly corner thereof; thence along
the Southeasterly line thereof, S. 58 deg. 30’ W. 343.91 feet to the most
Southerly corner thereof; thence along the Southwesterly line thereof, N. 38
deg. 35’ W. 481.96 feet to the intersection thereof with the Southeasterly line
of said 30 foot right of way; thence along the Southeasterly line of said 30
foot right of way, N. 37 deg. 30’ 40” E. 89.52 feet and N. 51 deg. 34’ 50” E.
154.39 feet to the Point of Beginning.

 1
 

 

PARCEL
THREE:

All
that certain Real Property in the City of San Jose, County of Santa Clara,
State of California, described as follows:

Commencing
at a railroad spike in the center line of Trimble Road at the Northwesterly
terminus of the center line of the 40 foot wide right of way shown on Record of
Survey Map, recorded in Book 115 of Maps, Page 40, Santa Clara County Records;
thence along said center line of right of way, South 25° 35’ East 1442.66 feet
to a 2” x 3” stake, and South 38° 35’ East 12.48 feet to an iron pipe at the
most Northerly corner of that certain 11.926 acre tract described in Deed,
Maria Coelho to Jacinto S. Siquig, et ux, recorded under Recorder’s File No.
845348, Santa Clara County Records and the True Point of Beginning of the tract
of land to be described; thence from said True Point of Beginning along the
boundaries of said 11.926 acre tract, South 51° 34’ 50” West 341.72 feet to an
iron pipe, South 73° 02’ East 147.99 feet to an iron pipe, and South 37° 30’ 40”
West 937.83 feet to an iron pipe, South 47° 19’ East 211.79 feet to an iron
pipe, North 58° 30’ East 1144.93 feet to an iron pipe and North 38° 35’ West
709.44 feet to the True Point of Beginning.

Excepting
therefrom that portion of said land conveyed to Royal Bear Broadcasters, Inc.,
a California Corporation by that certain Deed recorded January 21, 1966 in Book
7255, Page 480, Official Records of Santa Clara County.

Also
excepting therefrom that portion of said land conveyed to Joe D. Chew and Siu
Chow Chew, His Wife, as Joint Tenants by that certain Deed recorded March 13,
1969 in Book 8463, Page 567, Official Records of Santa Clara County.

PARCEL
FOUR:

Being
a portion of Parcel 16, as said parcel is shown on Sheet 5 of that certain
Parcel Map of International Business Park as recorded January 28, 1977 in Book
388 of Maps, Pages 16 through 27, inclusive, said real property being more
particularly described as follows:

Beginning
at the most Southerly corner of said Parcel 16, said most Southerly corner
being in the Easterly boundary of a 30 foot width strip of land shown as “L-20,
Lands of Southern Pacific Industrial Development Co.” on said Parcel Map;
Thence from said Point of Beginning measured along a Southeasterly boundary of
said Parcel 16 N.37°30’24”E., 783.36 feet to the true point of commencement;
Thence from said true point of commencement continuing along said Southeasterly
boundary N.37°30’24”E. 155.66 feet to an Easterly corner of said Parcel 16,
being a common corner of lands of Siquig as said lands are shown on said Parcel
Map; Thence along a common boundary of said Parcel 16 and said lands of Siquig,
N.73°07’26”W., 149.51 feet to said most Westerly corner of lands of Siquig and
a common corner of Parcel 16; Thence Southerly, S.16°08’26”E., 173.73 feet to
the true point of commencement.

 2
 

 

PARCEL
FIVE:

A
Right-of-Way, 40 feet wide described in the Deed from A. K. Whitton, et ux, to
Manuel Vierra, Dated March 26, 1907, recorded March 26, 1907, in Book 314 of
Deeds, Page 216, and granted by A. K. Whitton, et ux, to Manuel A. Silva, by
Deed Dated January 24, 1910, recorded January 29, 1910 in Book 353 of Deeds,
Page 371, the centerline of which is described as follows:

Beginning
at a stake marked W-2 in the lands hereinabove described and running thence N.
38 deg. 35’ W., 2.87 chains and N. 25 deg. 35’ W., 21.86 chains to the lane
beginning in the Easterly line of the Mission of Milpitas Road as described in
that certain Deed made by Trimble Orchard Company, to A. K. Whitton of Record
in Book 214 of Deeds, Page 259, together with the right to use said lane
equally with said Grantor herein, his heirs and assigns.

Excepting
therefrom all that portion lying Northerly of the Southerly line of Fortune Drive.

PARCEL
SIX::

An
easement for storm drainage and sanitary sewers, described as follows:

All
that certain Real Property in the City of San Jose, County of Santa Clara,
State of California, being a portion of Parcel A, as shown upon that certain
Parcel Map recorded in Book 470 of Maps at Pages 39 and 40, Santa Clara County
Records, more particularly described as follows:

Beginning
at the intersection of the Westerly line of said Parcel A with the Southerly
line of Forture Drive (40 half steet) as shown on said Parcel Map; thence from
said Point of Beginning along the Northerly line of said Parcel A being also
the Southerly line of Forture Drive, North 86 deg. 36’ 29” East 30.00 feet to
the True Point of Beginning.

thence
leaving said True Point of Beginning and Southerly line of Fortune Drive South
3 deg. 23’ 31” East 20.60 feet;

thence
along line parallel with and distant Northeasterly 20.00 feet measured at right
angles from the Westerly line of said Parcel A, South 25 deg. 34’ 30” East
272.45 feet;

thence
South 51 deg. 36’ 01” West 37.22 feet to the Southeasterly line of said Parcel
A;

thence
along said Southwesterly line of Parcel A South 38 deg. 35’ 27” East 99.43 feet
to the Southwesterly corner of said Parcel A;

thence
along the Southerly line of said Parcel A North 86 deg. 36’ 29” East 18.36
feet;

thence
leaving said Southerly line of Parcel A along a line parallel with and distant
Northeasterly 

 3
 

 

15.00
feet measured at right angles, North 38 deg. 35’ 27” West 84.96 feet;

thence
North 51 deg. 36’ 01” East 36.94 feet;

thence
along a line parallel with and distant Northeasterly 40.00 feet measured at
right angles from said Westerly line of Parcel A, North 25 deg. 34’ 30” West
276.38 feet;

thence
North 3 deg. 23’ 31” West 28.95 feet to the Southerly line of said Forture
Drive;

Thence
along said Southerly line of Fortune Drive South 86 deg. 36’ 29” West 25.00
feet to the True Point of Beginning.

PARCEL
SEVEN:

Parcel
18, as shown upon that certain Parcel Map of International Business Park, which
Map was filed for record on January 28, 1977 in Book 388 of Maps, at Pages 16
through 27, Santa Clara County Records.

 4

 

EXHIBIT B

FORM OF LEASE

See Attached

 1

 

EXHIBIT C

DUE
DILIGENCE MATERIALS

True and complete copies of the following documents which are in Seller’s
or Seller’s property manager’s possession or control:

1.                                       A schedule of all pending or threatened
litigation or governmental proceedings or enforcement actions relating to or
affecting the Property and known to Seller, whether or not Seller is a party
thereto;

2.                                       All contracts and agreements affecting the
Property, including, without limitation, any owners association agreements
(collectively, the “Contracts”);

3.                                       All soils, structural, mechanical,
engineering and seismic and similar reports or studies with respect to the
Property;

4.                                       Any notices (including inspection reports)
received from any governmental agency;

5.                                       The name and address of Seller’s insurance
company and agent and all insurance policies or certificates of insurance
procured with respect to the Property by Seller and a list of all claims for
more than $1,000.00 filed under all insurance policies for the Property during
the most recent three (3) years;

6.                                       All environmental site assessment reports,
monitoring reports and similar information with respect to hazardous materials
on or under the Property, together with all correspondence, test results,
orders, permits and O&M manuals relating to hazardous materials on the
Property;

7.                                       Certificates of compliance and occupancy,
governmental permits, variances, approvals, entitlements, operating licenses
and other licenses held or applied for by Seller and relating to the Property
(collectively, the “Permits”);

8.                                       All plans, specifications, drawings and
similar documents relating to the Property, including, but not limited to, all
as-built architectural, civil, mechanical, electrical, sprinkler, plumbing and
structural engineering plans and drawings, and all other as-built drawings or
plans prepared for Improvements constructed or to be constructed on the
Property or otherwise relating to the Property (collectively, the “Plans”);

9.                                       All ALTA surveys, topographical surveys,
aerial photos, FEMA maps, boundary maps, tentative and final maps and similar
engineering drawings of the Property;

10.                                 Any zoning and land use information and
documents with respect to the Property;

11.                                 All warranties, guaranties and indemnities
made by or received from any third party with respect to any part of the Land,
Improvements and Personal Property and pursuant to or under the Licenses and
Permits (collectively, the “Warranties”);

12.                                 Property tax bills for the current year and
the two (2) previous property tax fiscal years;

13.                                 Utility bills for the current year and the
two (2) most recent full calendar years;

14.                                 A list of the Personal Property and all
vendors presently employed by Seller;

15.                                 A schedule of all capital expenditures and
capital improvements made to the Property during the current year and the three
(3) most recent full calendar years;

16.                                 Any documents of measurement or remeasurement
of the Land and/or Improvements;

17.                                 All transportation systems management plans
and all applicable governmental requirements and regulations therefor; and

18.                                 List of Utilities, with account numbers.

 1

 

EXHIBIT D

Recording
Requested by and

When
Recorded Mail this Deed

and Tax
Statements to:

Westcore Properties AC, LLC

4445 Eastgate Mall, Suite 210

San Diego, California  92121

Attn:  Asset Manager

Space
Above This Line for Recorder’s Use

GRANT DEED

The undersigned Grantor
declares that Documentary Transfer Tax is not part of the public records.

For valuable consideration,
receipt and adequacy of which are hereby acknowledged, Flextronics
International USA, Inc., a California corporation (“Grantor”), hereby grants,
sells, conveys and transfers to                                                  ,
a                  
(“Grantee”), that certain improved real property located in City of San
Jose, County of Santa Clara, State of California, as legally described in Exhibit
A (the “Real Property”), together with all improvements, structures
and fixtures (other than trade fixtures) (collectively, the “Improvements”)
located thereon, and all easements, appurtenances, development rights, mineral
rights, water rights, air rights, and other rights and privileges belonging or
appertaining to the Real Property and Improvements, and all right, title and
interest in, to and under adjoining streets, rights of way and access
easements.

IN WITNESS WHEREOF, Grantor has caused its duly authorized
representative to execute this instrument as of the date hereinafter written.

Dated:                   ,
2006

GRANTOR:

FLEXTRONICS INTERNATIONAL USA, INC.,

a California corporation

 

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  

 

 1

 

EXHIBIT E

GENERAL ASSIGNMENT

This General Assignment (the “Assignment”) is
made and entered into as of this      day of                 ,
2006 (the “Assignment Date”), by and between Flextronics International
USA, Inc., a California corporation (“Assignor”), and                ,
a                          
(“Assignee”), with reference to the following facts.

RECITALS

A.            Assignor
and Assignee are parties to that certain Purchase, Sale and Leaseback Agreement
made and entered into as of                ,
2006, as assigned to Assignee (the “Purchase Agreement”) pursuant to
which Assignor agreed to sell to Assignee, and Assignee agreed to purchase from
Assignor that certain improved real property located in                ,
               ,
as legally described in Exhibit A attached hereto (the “Real Property”),
together with all (i) improvements, structures, fixtures (other than trade
fixtures), and equipment (collectively, the “Improvements”), (ii) personal
property (the “Personal Property”) owned by Assignor (if any) located in
or about the Real Property or the Improvements, (iii) intangible property and
interests, tradenames and similar property (collectively, the “Intangible
Property”), (iv) easements, appurtenances, development rights, mineral
rights, water rights, air rights, and all other rights and privileges
appertaining to the Real Property and Improvements (collectively, the “Appurtenances”),
(v) Licenses (defined below), (vi) certificates of compliance, certificates of
occupancy, governmental permits, variances, approvals, entitlements, operating
licenses and other licenses obtained, applied for or otherwise held by
Assignor, and relating to any part of the Property (collectively, the “Permits”),
and (vii) all warranties, guaranties and indemnities made by or received from
any third party with respect to any part of the Real Property, Improvements and
Personal Property and pursuant to or under the Licenses and Permits
(collectively, the “Warranties”). 
The Real Property, the Improvements, the Personal Property, the
Intangible Property, the Appurtenances, the Licenses, the Permits and the
Warranties are collectively referred to herein as the “Property.”  All capitalized terms used but not otherwise
defined herein shall have the meanings ascribed to such terms in the Purchase
Agreement.

B.            A
list of the Licenses is attached as Schedule 1 hereto.

C.            A
list of all the Permits and the Warranties affecting the Property which
Assignee approved pursuant to the provisions of the Purchase Agreement is
attached as Schedule 2 hereto.

D.            Assignee
has acquired fee title to the Property from Assignor on the Assignment
Date.  Assignor now desires to assign and
transfer to Assignee all of Assignor’s right, title and interest in, to and
under the Licenses, Permits, Warranties and Intangible Property, as set forth
herein.

 1
 

 

NOW, THEREFORE, for valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

1.             Assignment
of Permits, Warranties and Intangibles. 
Effective as of the Assignment Date, Assignor hereby grants, transfers,
conveys, bargains, assigns and delegates to Assignee all of Assignor’s right,
title, and interest in, to and under (i) 
the Permits as listed in Schedule 2 hereto; (ii) the Warranties
as listed in Schedule 3 hereto; and (iii) all Intangible Property.  Assignee hereby accepts such assignment.  Assignee is not assuming any liability or
obligation of Assignor relating to or arising from Assignor’s performance of,
or failure to perform, any of Assignor’s obligations under or with respect to
Licenses, Permits or Warranties to the extent first arising or accruing prior
to the Assignment Date.

2.             Assignment
of Licenses.

a.             Effective
as of the Assignment Date, Assignor hereby assigns to Assignee all of its right,
title and interest in and to the license agreements described in Schedule 1
hereto (individually a “License” and collectively, the “Licenses”).  Assignee hereby accepts such assignment.

b.             Effective
immediately following the assignment set forth in Section 2.a above, Assignee
hereby re-assigns to Assignor all of Assignee’s right, title and interest, and
delegates all of its obligations in, to and under the Licenses and Assignor
hereby accepts such re-assignment, upon the terms and conditions of this Section
2.b:

(i)            The
re-assignment of the Licenses pursuant to this Section 2.b shall terminate with
respect to each License upon the expiration or earlier termination of the
entire Lease or the part of the Lease applicable to that portion of the
Property occupied by the licensee under such License.  Upon the termination of the Lease (or part
thereof), Assignor shall, within fifteen (15) days after receipt of written
request from Assignee, execute and deliver to Assignee an unconditional
assignment of Assignor’s right, title and interest in the Licenses, in a form
reasonably approved by Assignee.

(ii)           During
the term of any License, Assignor shall promptly provide Assignee with copies
of any notices of default given or received under the Licenses.

(iii)          During
the term of such Licenses, Assignor shall be solely responsible and liable for
the full and complete performance of all of the licensor’s obligations under
the Licenses.

(iv)          After
the Assignment Date, Assignor shall not further assign, amend or modify any
License without the prior written approval of Assignee, such approval not to be
unreasonably withheld.

 2
 

 

3.             Assignor’s
Representations.  Assignor does
hereby covenant with Assignee, and represents and warrants to Assignee, that
Assignor has the right to bargain, convey, assign and transfer to Assignee each
of the Licenses, Permits, Warranties and Intangible Property (collectively, the
“Interests”).  Assignor further
represents and warrants that Assignor has received no written notice that any
of the Interests are not in full force and effect (except as the same may have
expired in accordance with their respective terms) or that there exist any
defaults thereunder, or that any acts or events which, with the passage of time
or the giving of notice or both, could become defaults thereunder, on the part
of any party thereto.  Assignor further
represents and warrants that (a) the Licenses are in full force and effect, (b)
the Licenses have not been modified or amended except as described on
Schedule 1 hereto, and (c) Assignor has provided all notices and obtained
all consents necessary under the Licenses to effectuate this Assignment.  As of the Assignment Date, to the best of
Assignor’s knowledge, there exists no breach or default, nor state of facts
which, with the passage of time or giving of notice, or both, would result in a
breach or default under a License by either licensor or licensee thereunder.

4.             Indemnification
by Assignor.  Assignor agrees to
protect, defend and indemnify Assignee from and against any and all claims,
damages (including without limitation, consequential damages and all other
damages regardless of the speculative nature thereof), liabilities, judgments,
demands, losses, costs and expenses (including without limitation, reasonable
attorneys’ fees and costs, and court costs) incurred in connection with or
arising out of the Licenses and which occur or accrue prior to, on or after the
Assignment Date, but not after the expiration or earlier termination of the
Lease.

5.             Dispute
Costs.  In the event of any dispute
between Assignor and Assignee arising out of the obligations of the parties
under this Assignment or concerning the meaning or interpretation of any
provision contained herein, the losing party shall pay the prevailing party’s
costs and expenses of such dispute, including without limitation, reasonable
attorneys’ fees and costs.  Any such
attorneys’ fees and other expenses incurred by either party in enforcing a
judgment in its favor under this Assignment shall be recoverable separately
from and in addition to any other amount included in such judgment, and such
attorneys’ fees obligation is intended to be severable from the other
provisions of this Assignment and to survive and not be merged into any such
judgment.

6.             Counterparts;
Facsimile Signatures.  This
Assignment may be executed in counterparts. 
All executed counterparts shall constitute one agreement, and each
counterpart shall be deemed an original. 
The parties agree that the delivery of an executed copy of this
Assignment by facsimile shall be legal and binding and shall have the same full
force and effect as if an original of this Assignment had been delivered.  Facsimile signatures shall be binding upon
the parties.

7.             Survival.  This Assignment and Assignor’s foregoing representations,
covenants and warranties shall survive the Closing for the Survival Period and
shall run to the benefit of Assignee and Assignee’s successors and assigns.
Notwithstanding the foregoing, the provisions of Section 4 of this Assignment
shall survive the Closing and the termination of the Licenses.

8.             Governing
Law.  This Assignment shall be
enforced, governed by, and construed in 

 3
 

 

accordance with the laws of the State of California.

9.             Warranty
of Authority.  The signatories hereto
represent that they have full and complete authority to bind their respective
parties to this Assignment and that no other consent is necessary or required
in order for the signatories to execute this Assignment on behalf of their
respective parties.

10.          Severability.  If for any reason, any provision of this
Assignment shall be held to be unenforceable, it shall not affect the validity
or enforceability of any other provision of this Assignment and to the extent
any provision of this Assignment is not determined to be unenforceable, such
provision, or portion thereof, shall be, and remain, in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this
Assignment as of the Assignment Date.

ASSIGNOR:

FLEXTRONICS INTERNATIONAL USA, INC.,

a California corporation

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  
	
  ASSIGNEE:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
                                              

  	
  ,

  
	
  a

  	
   

  	
   

  
	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

 4
 

 

Schedule 1 to General Assignment

1.             Communications Site License
Agreement dated as of March 7, 2003, by and between Pacific Bell Wireless, LLC,
d/b/a Cingular Wireless, and Flextronics International USA, Inc., regarding
2243 Lundy Avenue, San Jose, California.

2.             Communications Site License
Agreement dated as of July 9, 2003, by and between New Cingular Wireless PCS,
LLC, and Flextronics International USA, Inc., regarding 2243 Lundy Avenue, San
Jose, California.

 5

 

EXHIBIT F

BILL OF
SALE

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Flextronics International USA, Inc., a California corporation (“Seller”),
does hereby GRANT, SELL, CONVEY, TRANSFER and DELIVER to                                                                                   
(“Purchaser”), all of Seller’s right, title and interest in and to the
personal property (the “Personal Property”) owned by Seller and
described in Exhibit A attached hereto.

From and after the date of
this Bill of Sale, Purchaser and its successors and assigns shall have the
right to use, have, hold and own the Personal Property forever.  Seller hereby covenants, represents and
warrants that Seller is the lawful owner of the Personal Property and the
Personal Property is free from any liens and encumbrances.

Seller hereby warrants that
it has good and marketable title to the Personal Property and Seller hereby
agrees to defend Purchaser and its successors and assigns from any and all
claims made with respect to, or against title to, the Personal Property from
and after the date of this Bill of Sale.

IN WITNESS
WHEREOF, the Seller
has executed this Bill of Sale as of this       
day of           , 2006.

SELLER:

FLEXTRONICS INTERNATIONAL USA, INC.,

a California corporation

	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 1

 

 

EXHIBIT G

EXCLUDED
PERSONAL PROPERTY

 

	
   

  	
   

  	
  Make

  	
   

  	
  Model

  	
   

  	
  Serial No.

  
	
  2241 Lundy Ave.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Compressor #1

  	
   

  	
  GARDEN DENVER

  	
   

  	
  EBH99D

  	
   

  	
  S041335

  
	
  Compressor #2

  	
   

  	
  GARDEN DENVER

  	
   

  	
  EBH99D

  	
   

  	
  S041334

  
	
  Dryer

  	
   

  	
  VAN AIR

  	
   

  	
  HL250

  	
   

  	
  111403

  
	
  Vacuum Pumps #1

  	
   

  	
  BUSCH

  	
   

  	
  DPCT-317

  	
   

  	
  BD260616

  
	
  Vacuum Pumps #2

  	
   

  	
  BUSCH

  	
   

  	
   

  	
   

  	
   

  
	
  Vacuum Pumps #3

  	
   

  	
  BUSCH

  	
   

  	
   

  	
   

  	
   

  
	
  Compactor

  	
   

  	
  NO ID PLATE FOUND

  	
   

  	
   

  	
   

  	
   

  
	
  Baler

  	
   

  	
  LOGISTICS

  	
   

  	
  V6030-HD

  	
   

  	
  38558

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2243 Lundy Ave.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Compressor #1

  	
   

  	
  GARDEN DENVER

  	
   

  	
  EAP99E20

  	
   

  	
  1073439

  
	
  Compressor #2

  	
   

  	
  GARDEN DENVER

  	
   

  	
  EAP99E13

  	
   

  	
  1070112

  
	
  Vacuum Pump#1

  	
   

  	
  QUINCY

  	
   

  	
  QSV150ANN3E

  	
   

  	
  98500H

  
	
  Vacuum Pump#2

  	
   

  	
  QUINCY

  	
   

  	
  QSV150ANN3E

  	
   

  	
  98501H

  
	
  Compactor

  	
   

  	
  NO ID PLATE FOUND

  	
   

  	
   

  	
   

  	
   

  
	
  Baler

  	
   

  	
  J.V. MANUFACTURING

  	
   

  	
  DB-60-LU

  	
   

  	
  BD-10041-05

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2245 Lundy Ave.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Compressor #1

  	
   

  	
  KAESER

  	
   

  	
  AS36

  	
   

  	
  1148

  
	
  Compressor #2

  	
   

  	
  KAESER

  	
   

  	
  KRD-250

  	
   

  	
  PR250A-21-9801-1K

  
	
  Compactor

  	
   

  	
  J.V. MANUFACTURING

  	
   

  	
  BAYCON

  	
   

  	
  FB1197505

  

 1
 

 

 

	
  2241
  Lundy Ave.

  	
   

  	
  Access Control Equipment

  
	
  Controller

  	
   

  	
  1

  
	
  Card Reader

  	
   

  	
  8

  
	
  REX

  	
   

  	
  8

  
	
  DMA

  	
   

  	
  8

  
	
  MSN

  	
   

  	
  0

  
	
  2241 Lundy Ave.

  	
   

  	
  CCTV Equipment

  
	
  Rapid Eye

  	
   

  	
  2

  
	
  PTZ

  	
   

  	
  1

  
	
  Fixed

  	
   

  	
  5

  
	
  Mini Dome

  	
   

  	
  4

  
	
  Fusion

  	
   

  	
  0

  
	
   

  	
   

  	
   

  
	
  2243 Lundy Ave.

  	
   

  	
  Access Control Equipment

  
	
  Controller

  	
   

  	
  1

  
	
  Card Reader

  	
   

  	
  8

  
	
  REX

  	
   

  	
  8

  
	
  DMA

  	
   

  	
  8

  
	
  MSN

  	
   

  	
  5

  
	
  2243 Lundy Ave.

  	
   

  	
  CCTV Equipment

  
	
  Rapid Eye

  	
   

  	
  2

  
	
  PTZ

  	
   

  	
  3

  
	
  Fixed

  	
   

  	
  6

  
	
  Mini Dome

  	
   

  	
  3

  
	
  Fusion

  	
   

  	
  0

  
	
   

  	
   

  	
   

  
	
  2245 Lundy Ave.

  	
   

  	
  Access Control Equipment

  
	
  Controller

  	
   

  	
  1

  
	
  Card Reader

  	
   

  	
  7

  
	
  REX

  	
   

  	
  7

  
	
  DMA

  	
   

  	
  8

  
	
  MSN

  	
   

  	
  8

  

 

 2
 

 

 

	
  2245
  Lundy Ave.

  	
   

  	
  CCTV Equipment

  
	
  Rapid
  Eye

  	
   

  	
  0

  
	
  PTZ

  	
   

  	
  1

  
	
  Fixed

  	
   

  	
  4

  
	
  Mini
  Dome

  	
   

  	
  1

  
	
  Fusion

  	
   

  	
  2

  

 

 3Exhibit
10.16

ASSIGNMENT OF PURCHASE, SALE AND LEASEBACK AGREEMENT

THIS ASSIGNMENT OF PURCHASE, SALE AND LEASEBACK AGREEMENT
(this “Assignment”) dated as of September 20,
2006 (the “Assignment Date”), is made by and between WESTCORE PROPERTIES AC, LLC,
a Delaware limited liability company (“Assignor”), and WESTCORE LUNDY, LLC, a Delaware limited
liability company  (“Assignee”).

A.            Assignor
and FLEXTRONICS INTERNATIONAL USA, INC., a California corporation (“Seller”), entered into that certain Purchase, Sale and
Leaseback Agreement, dated as of August 28, 2006, as amended (collectively, the
“Purchase Agreement”), wherein Seller
agreed to sell and Assignor agreed to purchase improved real property located
at 2241, 2243 and 2245 Lundy Avenue, San Jose, California, and certain other
interests (as more particularly described in the Purchase Agreement as the “Property”).

B.            Assignor desires to assign all of its right,
title and interest in and to the Property under the Purchase Agreement to
Assignee, as of the date hereof.

C.            Assignee desires to accept such assignment
and assume all of Assignor’s rights, duties, obligations and liabilities under
the Purchase Agreement with respect to the Property (collectively, the “Obligations”).

NOW, THEREFORE, in consideration of the mutual promises
herein contained and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

1.             Definitions.  Unless otherwise defined in this Assignment,
all capitalized terms used herein shall have the meanings ascribed to them in
the Purchase Agreement.

2.             Assignment.  Assignor hereby transfers, assigns and sets
over to Assignee, its successors and assigns, all of Assignor’s right, title
and interest in, to and under the Purchase Agreement with respect to the
Property.

3.             Assumption.  Assignee
hereby agrees and confirms that effective as of the Assignment Date, Assignee
has assumed all of the Obligations, and is presently bound by all conditions
and agreements applicable to Assignor, under and with respect to the Purchase
Agreement.

4.             No
Release of Assignor.  No assignment
of the Purchase Agreement shall relieve Assignor of any liability or its
obligations under or in connection with the Purchase Agreement.

5.             Delivery
to Seller.  Assignor shall promptly
deliver to Seller a copy of this Assignment, fully executed by Assignor and
Assignee, after the mutual execution hereof by the parties.

6.             Severability.  If for any reason, any provision of this
Assignment shall be held to be unenforceable, it shall not affect the validity
or enforceability of any other provision of this Assignment and to the extent
any provision of this Assignment is not determined to be unenforceable, such
provision, or portion thereof, shall be, and remain, in full force and effect.

 1
 

 

 

7.             Authority
to Contract.  The signatories hereto represent that they have
full and complete authority to bind their respective parties to this Assignment
and that no other consent is necessary or required in order for the signatories
to execute this Assignment on behalf of their respective parties.

8.             Dispute
Costs.  In the event any dispute between the parties with respect to this
Assignment results in litigation or other proceeding, the prevailing party
shall be reimbursed by the party not prevailing in such proceeding for all
reasonable costs and expenses, including, without limitation, reasonable
attorneys’ and experts’ fees and costs incurred by the prevailing party in
connection with such litigation or other proceeding and any appeal
thereof.  Such costs, expenses and fees
shall be included in and made a part of the judgment recovered by the
prevailing party, if any.

9.             Counterparts;
Signatures.  This Assignment may be executed in
counterparts.  All executed counterparts shall
constitute one agreement, and each counterpart shall be deemed an
original.  The parties hereby acknowledge
and agree that the delivery of an executed
copy of this Assignment by facsimile signatures or an executed copy of this Assignment
transmitted by electronic mail in so-called “pdf” format shall be legal and
binding and shall have the same full force and effect as if an original of this
Assignment had been delivered.  Assignor
and Assignee (i) intend to be bound by the signatures on any document sent by
facsimile or electronic mail, (ii) are aware that the other party will rely on
such signatures, and (iii) hereby waive any defenses to the enforcement of the
terms of this Assignment based on the foregoing forms of signature

10.           Governing Law.  This
Assignment shall be governed by, and construed in accordance with, the laws of
the State of California.

11.           Entire
Agreement/Modifications.  This
Assignment, including exhibits, if any, expresses the entire agreement of the
parties and supersedes any and all previous agreements between the parties with
regard to the subject matter hereof. 
There are no other understandings, oral or written, which in any way
alter or enlarge its terms, and there are no warranties or representations of
any nature whatsoever, either expressed or implied, except as may expressly be
set forth herein.  Any and all future
modifications of this Assignment will be effective only if it is in writing and
signed by the parties hereto.  The terms
and conditions of such future modifications of this Assignment shall supersede
and replace any inconsistent provisions in this Assignment.

 2
 

 

 

IN WITNESS WHEREOF, Assignor and Assignee have duly executed
this Assignment as of the date and year first above written.

ASSIGNOR:

WESTCORE PROPERTIES AC, LLC,

a Delaware limited liability company

	
  By:

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  

 

ASSIGNEE:

WESTCORE LUNDY, LLC,

a Delaware limited liability company

	
  By:

  	
  Westcore Lundy Partners,

  	
   

  
	
   

  	
  a Delaware general
  partnership,

  	
   

  
	
   

  	
  its sole member

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  WP Lundy, LLC,

  	
   

  
	
   

  	
   

  	
  a Delaware
  limited liability company,

  	
   

  
	
   

  	
   

  	
  its managing
  partner

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  MRB Manager, LLC,

  	
   

  
	
   

  	
   

  	
   

  	
  a Delaware
  limited liability company,

  	
   

  
	
   

  	
   

  	
   

  	
  its manager

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
   

  	
   

  

 

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]