Document:

Exhibit 4.3(j)

Exhibit 4.3(j)

This Note is a Global Security within the meaning of the Indenture referred to herein and is
registered in the name of a Depositary or a nominee of a Depositary. Unless this certificate is
presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”) to the issuer or its agent for registration of transfer, exchange, or payment, and any
certificate issued is registered in the name of Cede & Co. or in such other name as is requested by
an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity
as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof,
Cede & Co., has an interest herein.

					
	 	 	 	 	 
	REGISTERED
	 	U.S. Bancorp
	 	REGISTERED
	 	 	Medium-Term Note, Series U	 	 
	No. UE-        
            
	 	(Subordinated)	 	 
	 
	 	(Master Global Note)	 	 

U.S. Bancorp (the “Issuer”), a corporation duly organized and existing under the laws of
Delaware, for value received, hereby promises to pay to Cede & Co. or its registered assigns: (i)
on each principal payment date, including each amortization date, redemption date, repayment date,
maturity date, and extended maturity date, as applicable, of each obligation identified on the
records of the Issuer (which records are maintained by U.S. Bank Trust National Association (the
“Issuing and Paying Agent”)) as being evidenced by this Master Global Note, the principal amount
then due and payable for each such obligation, and (ii) on each interest payment date, if any, the
interest then due and payable on the principal amount for each such obligation. Payment shall be
made by wire transfer of United States dollars to the registered owner, or immediately available
funds or the equivalent to a party as authorized by the registered owner and in the currency other
than United States dollars as provided for in each such obligation, by the Issuing and Paying Agent
without the necessity of presentation and surrender of this Master Global Note.

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS MASTER GLOBAL NOTE SET FORTH ON THE
REVERSE HEREOF.

This Master Global Note is a valid and binding obligation of the Issuer.

 

 

 

IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed under its
corporate seal.

	 	 	 	 	 	 	 
	Dated: April 21, 2011	 	U.S. BANCORP	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	Attest: 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

This is one of the Securities of the series

designated herein and issued pursuant

to the within-mentioned Indenture.

CITIBANK, N.A.,

as Trustee

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	Authorized Signatory	 	 

Or by

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Authenticating Agent

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	Authorized Officer	 	 

 

2

 

(Reverse Side of Note)

This Master Global Note evidences certain indebtedness (the “Debt Obligations”) of the Issuer,
which shall form a part of the Issuer’s unsecured, subordinated medium-term notes, Series U due
nine months or more from the date of issue (“Series U”), all issued or to be issued under and
pursuant to an Indenture dated as of October 1, 1991, as amended by a First Supplemental Indenture
dated as of April 1, 1993 (as so amended, the “Indenture”), duly executed and delivered by the
Issuer to Citibank, N.A., as trustee (the “Trustee”), to which Indenture and all indentures
supplemental thereto (including the Issuer’s Officer’s Certificate and Company Order, dated April
21, 2011, with respect to, among other things, the establishment of Medium-Term Notes, Series U
(Subordinated)) reference is hereby made for a description of the rights, duties and immunities
thereunder of the Issuer, the Trustee and the holders of the Debt Obligations. As provided in the
Indenture, the Debt Obligations may mature at different times, may bear interest, if any, at
different rates, may be subject to different redemption and repayment provisions, if any, may be
subject to different sinking, purchase, or analogous funds, if any, may be subject to different
covenants and events of default, and may otherwise vary as in the Indenture provided or permitted.
The Debt Obligations as evidenced by this Master Global Note aggregated with any other indebtedness
of the Issuer issued under this Series U are unlimited.

Capitalized terms used herein that are not defined herein shall have the meanings assigned to
them in the Indenture.

The indebtedness evidenced by this Master Global Note is, to the extent and in the manner
provided in the Indenture referred to above, subordinate and subject in right of payment to the
prior payment in full of the principal of and premium, if any, and interest on all Senior
Indebtedness of the Issuer, as defined in the Indenture, and each Holder of this Master Global
Note, by accepting the same, agrees to and shall be bound by the provisions of the Indenture and
authorizes and directs the Trustee on his behalf to take such action as may be necessary or
appropriate to acknowledge or effectuate the subordination of this Master Global Note as provided
in the Indenture and appoints the Trustee his attorney-in-fact for any and all such purposes.

The indebtedness evidenced by this Master Global Note is issued subject to the provisions of
the Indenture regarding payments to creditors in respect of General Obligations. In particular, the
Indenture provides that if upon the occurrence of certain events of bankruptcy or insolvency
relating to the Issuer, there remains, after giving effect to the subordination provisions referred
in the preceding paragraph, any amount of cash, property or securities available for payment or
distribution in respect of this Master Global Note (as defined in the Indenture, “Excess
Proceeds”), and if, at such time, any creditors in respect of General Obligations have not received
payment in full of all amounts due or to become due on or in respect of such General Obligations,
then such Excess Proceeds shall first be applied to pay or provide for the payment in full of such
General Obligations before any payment or distribution may be made in respect of this Master Global
Note. This paragraph shall immediately and automatically terminate, be null and void ab initio and
have no further effect upon the occurrence of a Termination Event (as defined in the Indenture).

Subject to the rights of holders of Senior Indebtedness and General Obligations of the Company
set forth in this Master Global Note and as provided in the Indenture referred to above, no
reference herein to the Indenture and no provision of this Master Global Note or of the Indenture
shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the
principal of, premium, if any, and interest, if any, on each Debt Obligation at the times, places,
and rates, and in the coin or currency, identified on the records of the Issuer.

At the request of the registered owner, the Issuer shall promptly issue and deliver one or
more separate note certificates evidencing each Debt Obligation evidenced by this Master Global
Note. As of the date any such note certificate or certificates are issued, the Debt Obligations
which are evidenced thereby shall no longer be evidenced by this Master Global Note.

 

3

 

Beneficial interests in the Debt Obligations evidenced by this Master Global Note are
exchangeable for definitive notes in registered form, of like tenor and of an equal aggregate
principal amount, only if (a) (i) The Depository Trust Company, as depositary (the “Depositary”),
notifies the Issuer that it is unwilling or unable to continue as Depositary for this Master Global
Note, or (ii) if at any time the Depositary ceases to be a clearing agency registered under the
Securities Exchange Act of 1934, as amended, and in either case, a successor depositary
is not appointed by the Issuer within 90 days after receiving notice or becoming aware the
Depositary is unwilling or unable to continue as Depositary or is no longer so registered; (b) in
the case of any other registered global note if (i) the clearing system(s) through which the notes
are cleared and settled is closed for business for a continuous period of 14 days, other than by
reason of holidays, statutory or otherwise; or (ii) the clearing system(s) through which the notes
are cleared and settled announces an intention to cease business permanently or does in fact do so;
(c) the Issuer in its sole discretion elects to issue definitive notes; or (d) after the occurrence
of an Event of Default relating to a Debt Obligation evidenced by this Master Global Note,
beneficial owners representing a majority in principal amount of such Debt Obligation advise the
Depositary or other clearing system(s) through its participants to cease acting as depositary for
such Debt Obligation evidenced by this Master Global Note. Any beneficial interests in such Debt
Obligation that are exchangeable pursuant to the preceding sentence shall be exchangeable in whole
for definitive notes in registered form, of like tenor and of an equal aggregate principal amount,
in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Such
definitive notes shall be registered in the name or names of such person or persons as the
Depositary shall instruct the registrar.

Prior to due presentment of this Master Global Note for registration of transfer, the Issuer,
the Trustee or any agent of the Issuer or the Trustee may treat the holder in whose name this
Master Global Note is registered as the owner hereof for all purposes, whether or not this Master
Global Note be overdue, and neither the Issuer, the Trustee nor any such agent shall be affected by
notice to the contrary except as required by applicable law.

 

4

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto

 

(Name, Address, and Taxpayer Identification Number of Assignee)

the Master Global Note and all rights thereunder,
hereby irrevocably constituting and appointing
               
      attorney to transfer said Master Global Note on the books of the Issuer with full
power of substitution in the premises.

	 	 	 
	Dated:      
                   
                
	 	 
	 

	 	 
	 

	 	(Signature)
	 
	 	 
	Signature(s) Guaranteed:

	 	NOTICE: The signature on this assignment must correspond with the name as
written upon the face of this Master Global Note, in every particular, without alteration or
enlargement or any change whatsoever.

 

5

 

U.S. BANCORP

RIDER TO MASTER GLOBAL NOTE DATED APRIL 21, 2011

Medium-Term Notes, Series U (Subordinated)

This RIDER forms a part of and is incorporated into the Master Global Note dated April 21, 2011, of
U.S. Bancorp (the “Issuer”) registered in the name of Cede & Co, or its registered assigns,
evidencing the Issuer’s Debt Obligations.

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF SUCH MASTER GLOBAL NOTE (TOGETHER WITH THIS
RIDER, HEREIN REFERRED TO AS THIS “MASTER GLOBAL NOTE”) SET FORTH IN THE RECORDS OF THE ISSUER
MAINTAINED BY THE TRUSTEE, WHICH RECORDS CONSIST OF THE PRICING SUPPLEMENT(S) TO THE PROSPECTUS
SUPPLEMENT DATED APRIL 21, 2011, AND PROSPECTUS DATED APRIL 21, 2011 (EACH, AS IT MAY BE AMENDED OR
SUPPLEMENTED, A “PRICING SUPPLEMENT”) RELATING TO EACH ISSUANCE OF DEBT OBLIGATIONS, AS FILED BY
THE ISSUER WITH THE SECURITIES AND EXCHANGE COMMISSION. SUCH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH AT THIS PLACE.

Section 1. Defined Terms.

Unless otherwise defined herein, all terms used in this Master Global Note which are defined in the
Indenture shall have the respective meanings assigned to them in the Indenture.

Section 2. General.

This Master Global Note is a duly authorized issue of the series of notes of the Issuer designated
herein. By the terms of the Indenture, the Debt Obligations may mature at different times, may
bear interest, if any, at different rates, may be subject to different redemption and repayment
provisions, if any, may be subject to different sinking, purchase, or analogous funds, if any, may
be subject to different covenants and events of default, and may otherwise vary as in the Indenture
provided or permitted. The Debt Obligations aggregated with any other indebtedness of the Issuer
of this series are unlimited.

This Master Global Note may have such additional or different terms as are set forth in the
applicable Pricing Supplement(s). Any terms so set forth shall be deemed to modify and/or
supersede, as necessary, any other terms set forth in this Master Global Note.

The indebtedness evidenced by this Master Global Note is, to the extent and in the manner provided
in the Indenture, subordinate and subject in right of payment to the prior payment in full of the
principal of and premium, if any, and interest on all Senior Indebtedness of the Issuer, as defined
in the Indenture, and the holder of this Master Global Note, by accepting the same, agrees to and
shall be bound by the provisions of the Indenture and authorizes and directs the Trustee on his
behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the
subordination of this Master Global Note as provided in the Indenture and appoints the Trustee his
attorney-in-fact for any and all such purposes.

The indebtedness evidenced by this Master Global Note is issued subject to the provisions of the
Indenture regarding payments to creditors in respect of General Obligations. In particular, the
Indenture provides that if upon the occurrence of certain events of bankruptcy or insolvency
relating to the Issuer, there remains, after giving effect to the subordination provisions referred
in the preceding paragraph, any amount of cash, property or securities available for payment or
distribution in respect of this Master Global Note (as defined in the Indenture, “Excess
Proceeds”), and if, at such time, any creditors in respect of General Obligations have not received
payment in full of all amounts due or to become due on or in respect of such General Obligations,
then such Excess Proceeds shall first
be applied to pay or provide for the payment in full of such General Obligations before any payment
or distribution may be made in respect of this Master Global Note. This paragraph shall immediately
and automatically terminate, be null and void ab initio and have no further effect upon the
occurrence of a Termination Event (as defined in the Indenture).

 

6

 

Section 3. Payments of Principal and Interest.

Unless otherwise specified in the applicable Pricing Supplement, the issuer shall pay on the
Maturity date of each Debt Obligation, together with any premium thereon, upon any applicable
Redemption Date, and to pay interest thereon from the original issue date of such Debt Obligation
(the “Original Issue Date”), except as otherwise specified below, from and including the most
recent Interest Payment Date to which interest has been paid or duly provided for, on each
applicable Interest Payment Date, commencing with the Interest Payment Date immediately following
the Original Issue Date, at the applicable rate, until the principal of Debt Obligation is paid or
made available for payment; provided, however, that if the Original Issue Date is between a Regular
Record Date and an Interest Payment Date, interest payments will be made on the Interest Payment
Date following the next succeeding Regular Record Date. The interest so payable and punctually
paid or duly provided for on any Interest Payment Date will, as provided in the Indenture, be paid
to the Person in whose name this Master Global Note (or one or more predecessor Master Global
Notes) is registered at the close of business on the Regular Record Date related to the Interest
Payment Date, which, unless otherwise specified in the applicable Pricing Supplement, shall be the
day (whether or not a Business Day) fifteen calendar days preceding each Interest Payment Date;
provided, however, that interest payable on the Maturity date of any Debt Obligation or any
applicable Redemption Date shall be payable to the Person to whom principal shall be payable. Any
such interest not so punctually paid or duly provided for will forthwith cease to be payable to the
holder of the this Master Global Note on such Regular Record Date and may be paid to the Person in
whose name this Master Global Note (or one or more predecessor Notes) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to the holder of this Master Global Note not less than 10
days prior to such Special Record Date. In the event that any Maturity date or Redemption Date is
not a Business Day, the principal otherwise payable on such date will be paid on the next day that
is a Business Day with the same force and effect as if made on such Maturity date or Redemption
Date, as applicable. In the event that any Interest Payment Date is not a Business Day, such
Interest Payment Date shall be postponed to the next day that is a Business Day, provided that, for
LIBOR Debt Obligations and EURIBOR Debt Obligations, if such Business Day is in the next succeeding
calendar month, such Interest Payment Date shall be the immediately preceding Business Day.
Payment of the principal of (and premium, if any) and interest on this Master Global Note will be
made to the Depository, or its nominee, as the registered owner of this Master Global Note
representing the Debt Obligations. A holder of this Master Global Note holding $10,000,000 (or the
equivalent of $10,000,000 in a currency other than U.S. dollars) or more in aggregate principal
amount of the Debt Obligations shall be entitled to receive payments by wire transfer of
immediately available funds, but only if appropriate wire transfer instructions have been received
in writing by the Trustee or the applicable Paying Agent not later than the Regular Record Date.
Payment of the principal of (and premium, if any) and interest on this Master Global Note due on
the Maturity date or any applicable Redemption Date will be made in immediately available funds.

The principal of and any premium and interest on the Debt Obligations under this Master Global Note
are payable by the Issuer in the currency specified in the applicable Pricing Supplement. If the
specified currency is other than U.S. dollars, the Issuer will (unless otherwise specified in the
applicable Pricing Supplement) arrange to convert all payments in respect of the applicable Debt
Obligations under this Master Global Note into U.S. dollars in the manner described in the
following paragraph. If the specified currency is other than U.S. dollars, the holder may (if so
indicated in the applicable Pricing Supplement) elect to receive all payments in respect of
applicable Debt Obligations under this Master Global Note in the specified currency by delivery of
a written notice to the Trustee or the applicable Paying Agent not later than the Regular Record
Date. That election will remain in effect until revoked by written notice to the Trustee or Paying
Agent received no later than fifteen calendar days prior to the applicable payment date.

 

7

 

In case the specified currency is other than U.S. dollars, the amount of any U.S. dollar payment
will be based on the bid quoted by an exchange rate agent as of 11:00 a.m., London time, on the
second day preceding the applicable payment date on which banks are open for business in London and
New York City, for the purchase of U.S. dollars with the specified currency for settlement on the
payment date of the aggregate amount of the specified currency
payable to the holder of this Master Global Note. If this bid quotation is not available, such
exchange rate agent will obtain a bid quotation from a leading foreign exchange bank in London or
New York City selected by such exchange rate agent. If the bids are not available, payment of the
aggregate amount due to the holder on the payment date will be in the specified currency. All
currency exchange costs will be borne by the holder of this Master Global Note by deductions from
such payments due such holder.

Section 4. Redemption.

If possible Redemption Dates or periods within which Redemption Dates may occur and the related
Redemption Prices (expressed as percentages of the principal amount of the applicable Debt
Obligations) are set forth in the applicable Pricing Supplement, such Debt Obligations are subject
to redemption prior to the Maturity date upon not less than 30 nor more than 60 days’ notice
mailed to the Person in whose name this Master Global Note is registered at such address as shall
appear in the Security Register of the Issuer, on any Redemption Date so specified or occurring
within any period so specified, as a whole or in part, at the election of the Issuer, at the
applicable Redemption Price so specified, together with accrued interest, if any, to the Redemption
Date; provided, however, that installments of interest whose Stated Maturity is on or prior to such
Redemption Date will be payable in the case of any such redemption to the holder of this Master
Global Note (or one or more predecessor Notes) at the close of business on the relevant record
dates referred to above, all as provided in the Indenture.

Section 5. Sinking Funds.

Unless otherwise specified in the applicable Pricing Supplement, the Debt Obligations under this
Master Global Note is not subject to any sinking fund.

Section 6. Principal Amount For Indenture Purposes.

For the purpose of determining whether holders of the requisite amount of the notes of Series U,
including the Debt Obligations as evidenced by this Master Global Note, outstanding under the
Indenture have made a demand, given a notice or waiver or taken any other action, the outstanding
principal amount of this Master Global Note shall be deemed to be the aggregate principal amount
outstanding of the Debt Obligations as evidenced by this Master Global Note.

Section 7. Modification and Waivers.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Issuer and the rights of the holders of the notes
of each series, including the holders of the Debt Obligations, to be affected under the Indenture
at any time by the Issuer and the Trustee with the consent of the holders of not less than a
majority in aggregate principal amount of the notes at the time Outstanding of each series to be
affected and, for certain purposes, without the consent of the holders of any notes, including the
holders of Debt Obligations, at the time Outstanding. The Indenture also contains provisions
permitting the holders of specified percentages in aggregate principal amount of the Debt
Obligations of each series at the time Outstanding, on behalf of the holders of all Debt
Obligations of such series, to waive compliance by the Issuer with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the holder of this Master Global Note shall be conclusive and binding upon such holder
and upon all future holders of this Master Global Note and of any Master Global Note issued upon
the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Master Global Note.

Subject to the rights of holders of Senior Indebtedness and General Obligations of the Issuer as
provided in the Indenture, no reference herein to the Indenture and no provision of this Master
Global Note or of the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of (and premium, if any) and interest on this
Master Global Note at the times, place and rate, and in the coin or currency, herein prescribed.

 

8

 

Section 8. Authorized Form and Denominations.

Unless otherwise set forth in the applicable Pricing Supplement, the Debt Obligations of this
series are issuable only in fully registered form without coupons in denominations of $1,000 or any
amount in excess of $1,000 which is an integral multiple of $1,000. As provided in the Indenture
and subject to certain limitations therein set forth, Debt Obligations of this series are
exchangeable for a like aggregate principal amount of Debt Obligations of this series and of like
tenor of a different authorized denomination, as requested by the holder surrendering the same.

No service charge will be made for any such registration of transfer or exchange, but the Issuer
may require payment of a sum sufficient to cover any tax or other governmental charge payable in
connection therewith. The Issuer, the Trustee and any agent of the Issuer or the Trustee may treat
the Person in whose name this Master Global Note is registered in the Security Register as the
owner hereof for all purposes, whether or not this Master Global Note be overdue, and neither the
Issuer, the Trustee nor any such agent shall be affected by notice to the contrary.

Section 9. Registration of Transfer.

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of
this Master Global Note is registrable in the Security Register of the Issuer, upon surrender of
this Master Global Note for registration of transfer at the office or agency of the Issuer in any
place where the principal of (and premium, if any) and interest on this Master Global Note are
payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory
to the Issuer and the Security Registrar duly executed by, the holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Master Global Notes of this series and of like
tenor of authorized denominations and for the same aggregate principal amount, will be issued to
the designated transferee or transferees.

Section 10. Events of Default.

If an Event of Default with respect to the Debt Obligations under this Master Global Note of this
Series shall occur and be continuing, the principal of all such Debt Obligations under this Master
Global Notes may (subject to the conditions set forth in the Indenture) be declared due and payable
in the manner and with the effect provided in the Indenture.

Section 11. Governing Law.

This Master Global Note shall be governed by and construed in accordance with the laws of the State
of New York.

 

9exv10w5

Exhibit 10.5

PURCHASE AND SALE AGREEMENT

(Membership Interest)

     THIS PURCHASE AND SALE AGREEMENT (this “Agreement”), dated as of February 24, 2011,
between SERIES C, LLC, an Arizona limited liability company (“Seller”) having an address at
2555 East Camelback Road, Suite 400, Phoenix, AZ 85016, and COLE CORPORATE INCOME OPERATING
PARTNERSHIP, LP, a Delaware limited partnership (“Purchaser”), having an address at 2555
East Camelback Road, Suite 400, Phoenix, AZ 85016.

RECITALS:

	 	A.	 	Seller owns 100% of the membership interest (“Sale Assets”) in
Cole OF San Antonio TX, LLC, a Delaware limited liability company (“Cole
San Antonio”).
	 
	 	B.	 	Purchaser desires to acquire from Seller, and Seller desires to sell to
Purchaser, the Sale Assets in accordance with and subject to the terms and
conditions of this Agreement.

     NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be
legally bound, Seller and Purchaser agree as follows:

ARTICLE I

Definitions

     The following capitalized terms used in this Agreement shall have the meanings ascribed to
them below:

     “Assignment” shall have the meaning set forth in Section 2.03(b) of this Agreement.

     “Cash Portion” shall have the meaning set forth in Section 2.02 of this Agreement.

     “Closing” shall have the meaning set forth in Section 2.03(a) of this Agreement.

     “Closing Date” shall have the meaning set forth in Section 2.03(a) of this Agreement.

     “Cole San Antonio” shall have the meaning set forth in the Recitals of this Agreement.

     “Lease” shall mean the lease agreement with Lessee relating to the Property.

     “Lessee” shall mean MINIMED DISTRIBUTION CORP., a Delaware corporation.

     “Loan” shall have the meaning set forth in Section 2.02 of this Agreement.

1

 

     “Material Organizational Documents” shall mean, collectively, the following documents,
as the same may hereafter be amended: (i) Certificate of Formation of Cole OF San Antonio TX, LLC,
and (ii) the Limited Liability Company Agreement of Cole OF San Antonio TX, LLC, together with any
amendments thereto.

     “Person” shall mean any individual, corporation, partnership, limited liability
company, joint venture, estate, trust, unincorporated association, any federal, state, county or
municipal government or any bureau, department or agency thereof and any fiduciary acting in such
capacity on behalf of any of the foregoing.

     “Property” shall mean the right, title and interest of Cole San Antonio in the real
property located at 18302 Talavera Ridge, San Antonio, TX , and all improvements situated thereon,
together with all right, title and interest of Cole San Antonio in and to all hereditaments,
easements, rights-of-way, drives, alleys, parking areas and appurtenances thereunto belonging, or
in any way appertaining to such real property.

     “Purchase Price” shall have the meaning given such term in Section 2.02 of this
Agreement.

     “Purchaser” shall have the meaning given such term in the Preamble of this Agreement.

     “Purchaser’s Closing Costs” shall have the meaning given such term in Section 2.04(b)
of this Agreement.

     “Purchaser Closing Documents” shall have the meaning given such term in Section
3.02(b) of this Agreement.

     “Sale Assets” shall have the meaning given such term in the Recitals of this
Agreement.

     “Seller” shall have the meaning given such term in the Preamble of this Agreement.

     “Seller Closing Documents” shall have the meaning given such term in Section 3.01(b)
of this Agreement.

     “Seller’s Closing Costs” shall have the meaning given such term in Section 2.04(a) of
this Agreement.

     “Seller’s Parties” shall have the meaning given such term in Section 2.05(b) of this
Agreement.

ARTICLE II

Agreement to Sell and Purchase;

Terms of Sale and Purchase

     2.01 Agreement to Sell and Purchase. In consideration of the mutual covenants and
agreements set forth herein and upon and subject to the terms, provisions and conditions of this
Agreement, Seller agrees to sell, assign, transfer and convey to Purchaser, and Purchaser agrees to
purchase and acquire from Seller, the Sale Assets, in accordance with and subject to the terms

2

 

and conditions of this Agreement.

     2.02 Purchase Price; Prorations. The purchase price payable by Purchaser to Seller
for the Sale Assets shall be $32,850,000 (the “Purchase Price”) of which at least
$2,500,000 shall be cash (the “Cash Portion”) and the balance shall be financed by a
“carry-back” loan (the “Loan”), payable as follows:

          (a) On the Closing Date, the Cash Portion shall be payable by wire transfer of immediately
available United States federal funds or other method acceptable to Seller to the account or
accounts designated by Seller.

          (b) On the Closing Date, the Loan shall be evidenced by loan documents whose form and
substance are mutually satisfactory to Seller and Purchaser. The Loan shall have a fixed interest
rate of 4.75%, require monthly interest-only debt service payments (i.e., no amortization of
principal), have a one-year term, be secured by all of Purchaser’s right, title and interest in and
to the Sale Assets and permit Purchaser to prepay the Loan, in whole or in part, without any
premium or penalty. There will not be a loan origination fee.

          (c) On the Closing Date, Seller and Purchaser shall prorate the base rent paid under the Lease
for the month in which the Closing Date occurs, such that there shall be an adjustment in favor of
Purchaser in an amount determined by multiplying such base rent for the month in which the Closing
occurs by a fraction, the numerator of which is the number of days from and after the Closing Date
through the last day of the month in which the Closing occurs and the denominator of which is the
total number of days in the month in which the Closing occurs. It is the intention of the parties
to adjust only the base rent for the month in which the Closing occurs. Notwithstanding the
foregoing, in the event an adjustment for real property taxes is sought by Purchaser due to the
fact that current tax bills with respect to the Property had not yet been issued as of Closing
Date, the Purchaser shall be entitled to seek an adjustment with respect to any closing proration
of real property taxes until thirty (30) days after Purchaser’s receipt of tax bills for the period
of time during which the Closing Date occurred.

          (d) There shall be no prorations or adjustments of the Purchase Price except as set forth in
this Section 2.02.

     2.03 The Closing.

          (a) The consummation of the sale and purchase of the Sale Assets contemplated by this
Agreement (the “Closing”) shall take place on a date (the “Closing Date”) that is
no later than 3 business days after Cole Corporate Income Trust, Inc. (“CCIT”), a Maryland
corporation and the general partner of Purchaser, has broken escrow pursuant to the Escrow
Agreement, dated January 18, 2011 (the “Escrow Agreement”), among CCIT, Cole Capital Corporation
and UMB Bank, N.A. If CCIT has not broken escrow pursuant to the Escrow Agreement by February 10,
2012, this Agreement will automatically terminate and neither Seller nor Purchaser shall have any
further liability or obligation under this Agreement other than any such liability or obligation
that this Agreement expressly states survives termination.

3

 

          (b) On the Closing Date, Seller shall sell, assign, transfer and convey to Purchaser all of
Seller’s right, title and interest in and to the Sale Assets by delivery to Purchaser of an
instrument of assignment in the form annexed hereto as Schedule A (the
“Assignment”), and Purchaser shall pay to Seller the Purchase Price therefor as
contemplated by Section 2.02 hereof.

     2.04 Closing Costs.

          (a) In connection with the conveyance of the Sale Assets by Seller to Purchaser, Seller shall
pay the (“Seller’s Closing Costs”) fees and expenses of Seller’s legal counsel.

          (b) In connection with the conveyance of the Sale Assets by Seller to Purchaser, Purchaser
shall pay the following (“Purchaser’s Closing Costs”): (i) the fees and expenses of
Purchaser’s legal counsel, (ii) any transfer taxes, if applicable, arising in connection with the
transaction contemplated by this Agreement, (iii) the cost of Purchaser’s due diligence
investigation, and (iv) all other costs and expenses arising in connection with the transaction
contemplated herein, other than the costs that are Seller’s responsibility pursuant to Section
2.04(a) hereof.

          (c) The provisions of this Section 2.04 shall survive the Closing.

     2.05 Non-Recourse.

          (a) With respect to a violation of a representation by Seller contained herein or made
pursuant hereto discovered by Purchaser after the Closing, Purchaser shall be entitled to commence
an action to obtain actual damages against Seller; provided, however, that Seller’s liability
hereunder shall in no event exceed an amount equal to the Purchase Price actually received by
Seller; provided, further, however, in no event shall Purchaser have the right to collect any
consequential or indirect damages from Seller and Purchaser waives any and all such rights.

          (b) Anything contained in this Agreement to the contrary notwithstanding, no recourse shall be
had for the payment of any sum due under this Agreement, or for any claim based hereon or otherwise
in respect hereof against any members, directors, officers, employees, shareholders, policyholders,
partners, affiliates, trustees, administrators or agents of Seller or of any of the foregoing or
the legal representative, heir, estate, successor or assignee of any of the foregoing or against
any other person, partnership, corporation or trust, as principal of Seller, whether disclosed or
undisclosed (collectively, “Seller’s Parties”). It is understood and agreed by the parties
that all of the obligations of Seller under or with respect to this Agreement may not be enforced
against Seller’s Parties.

ARTICLE III

Representations and Warranties

     3.01 Seller Representations and Warranties. Seller represents and warrants to
Purchaser that as of the date hereof:

4

 

          (a) Seller is a limited liability company, duly organized, validly existing and in good
standing under the laws of its jurisdiction of formation.

          (b) Seller has all requisite power and authority to execute and deliver this Agreement and all
documents, certificates, agreements, instruments and writings it is required to deliver hereunder
(collectively, the “Seller Closing Documents”), and to perform, carry out and consummate
the transactions contemplated to be consummated by it hereby and thereby, including the power and
authority to sell, transfer and convey the interest in the Sale Assets to be sold by it, subject to
the satisfaction of the conditions precedent to Seller’s obligations hereinafter provided. The
execution, delivery and performance of this Agreement and the other Seller Closing Documents have
been duly authorized by all necessary action of Seller, including any required approval of the
members of Seller. This Agreement does, and when executed by Seller, the other Seller Closing
Documents shall, constitute the legal, valid and binding obligations of Seller, enforceable against
Seller in accordance with their respective terms, except as such enforceability may be limited by
bankruptcy, insolvency or similar laws and by equitable principles.

          (c) There is no action, suit or proceeding before any court or governmental or other
regulatory or administrative agency, commission or tribunal pending or, to the actual knowledge of
Seller, threatened against Seller or the interest in the Sale Assets to be sold by Seller which, if
determined adversely to Seller would reasonably be expected to interfere in any material respect
with the ability of Seller to perform its obligations under this Agreement or materially and
adversely affect the value of the interest in the Sale Assets to be sold by Seller.

          (d) Seller has not entered into any lease for the Property other than the Lease.

          (e) To Seller’s actual knowledge, the Lease is in full force and effect and the obligation to
pay rent thereunder has commenced. Seller has not received written notice of any uncured default
from Lessee under the Lease.

          (f) At Closing, the Sale Assets to be sold by Seller shall be free and clear of any lien,
security interest or encumbrance thereon. There are no rights, options or other agreements of any
kind to purchase, acquire, receive or issue any interest of Seller in and to the Sale Assets to be
sold by it.

          (g) Cole San Antonio has legal title to the Property, subject to the existing state of title
of the Property.

          (h) Cole San Antonio has not incurred any liabilities, except for (i) its obligations under
the Material Organizational Documents, (ii) obligations arising from or relating to the ownership
of its interests in the Property, (iii) its obligations relating to the maintenance of its status
as a Delaware limited liability company and the maintenance of such company’s qualifications to do
business in such other jurisdictions where it has qualified to do business, (iv) obligations
arising under any matter appearing of record against the Property, (v) customary unsecured trade
debt which will not exceed $1,000.00 as of the Closing Date, and (vi) the obligation to pay fees to
The Corporation Trust Company for acting as its registered agent. Cole San Antonio does not own any
assets, except (1) relating to the ownership of its interest in

5

 

the Property, and (2) bank accounts.

          (i) Cole San Antonio has been duly formed as a limited liability company and is validly
existing in good standing under the laws of the State of Delaware and has the power and authority
to own the Property.

     The provisions of this Section 3.01 shall survive the Closing.

     3.02 Purchaser Representations and Warranties. Purchaser represents and warrants to
Seller that as of the date hereof:

          (a) Purchaser is a limited partnership, duly organized, validly existing and in good standing
under the laws of the jurisdiction of its formation.

          (b) Purchaser has all requisite power and authority to execute and deliver this Agreement and
all documents, certificates, agreements, instruments and writings it is required to deliver
hereunder, if any (collectively, the “Purchaser Closing Documents”), and to perform, carry
out and consummate the transactions contemplated hereby and thereby. The execution, delivery and
performance of this Agreement and the other Purchaser Closing Documents have been duly authorized
by all necessary company action on the part of Purchaser. This Agreement does, and when executed
by Purchaser, the other Purchaser Closing Documents shall, constitute the legal, valid and binding
obligations of Purchaser enforceable against Purchaser in accordance with their respective terms,
except as such enforceability may be limited by bankruptcy, insolvency or similar laws and by
equitable principles.

          (c) There is no action, suit or proceeding before any court or governmental or other
regulatory or administrative agency, commission or tribunal pending or, to the actual knowledge of
Purchaser (without any duty to investigate), threatened against Purchaser which, if determined
adversely to Purchaser, could reasonably be expected to interfere in any material respect with the
ability of Purchaser to perform its obligations under this Agreement.

     The provisions of this Section 3.02 shall survive the Closing.

ARTICLE IV

Conditions

     4.01 Seller’s Conditions. The obligation of Seller under this Agreement to consummate
the transactions contemplated hereby shall be subject to the satisfaction of all the following
conditions, any one or more of which may be waived in writing by Seller:

          (a) Seller shall have received payment of the Purchase Price in accordance with Section 2.02
of this Agreement.

          (b) Purchaser shall have delivered all of the documents and other items described in Section
5.01.

          (c) The representations and warranties of Purchaser set forth in Section 3.02 above shall be
true and correct in all material respects.

6

 

     4.02 Purchaser’s Conditions. The obligation of Purchaser under this Agreement to
consummate the transactions contemplated hereby shall be subject to the satisfaction of all of the
following conditions, any one or more of which may be waived in writing by Purchaser:

          (a) Seller shall have delivered all of the documents and other items described in Section
5.02.

          (b) The representations and warranties of Seller set forth in Section 3.01 above shall be true
and correct in all material respects, except for any matters pertaining to the Property that are
Lessee’s responsibility under the Lease.

ARTICLE V

Closing Deliveries

     5.01 Purchaser’s Closing Deliveries. At or prior to the Closing, Purchaser shall make
or cause to be made the following deliveries:

          (a) Purchaser shall have executed and delivered to Seller the Assignment

          (b) Purchaser shall have executed and delivered the loan documents evidencing the Loan

          (c) Purchaser shall have delivered to Seller evidence as to the authority of the person or
persons executing documents on behalf of Purchaser.

     5.02 Seller’s Closing Deliveries. At or prior to the Closing, Seller shall make or
cause to be made the following deliveries:

          (a) Seller shall have executed and delivered to Purchaser the Assignment.

          (b) Seller shall have executed and delivered to Purchaser a certificate of “non- foreign
person” status that meets the requirements of Section 1445 of the Internal Revenue Code of 1986, as
amended.

          (c) Seller shall have delivered to Purchaser the original or certified copies of the Material
Organizational Documents.

          (d) Seller shall have executed and delivered the loan documents evidencing the Loan.

          (e) Seller shall have delivered to Purchaser evidence as to the authority of the person or
persons executing the Seller Closing Documents on behalf of Seller.

ARTICLE VI

Miscellaneous

     6.01 Broker. (a) Seller represents and warrants that neither Seller nor any of its

7

 

respective affiliates or any of its respective directors, officers, partners, managers or
members has dealt with anyone acting as broker, finder, financial advisor or in any similar
capacity in connection with this Agreement or any of the transactions contemplated hereby. Seller
shall indemnify, defend and hold harmless Purchaser from any and all claims, actions, liabilities,
losses, damages and expenses, including reasonable attorneys’ fees and disbursements, which may be
asserted against or incurred by Purchaser arising from a breach of Seller’s representation
contained in this Section 6.01(a).

          (b) Purchaser represents and warrants that neither Purchaser nor any of its affiliates or any
of their respective directors, officers, partners, managers or members has dealt with anyone acting
as broker, finder, financial advisor or in any similar capacity in connection with this Agreement
or any of the transactions contemplated hereby. Purchaser shall indemnify, defend and hold
harmless Seller from any and all claims, actions, liabilities, losses, damages and expenses,
including reasonable attorneys’ fees and disbursements, which may be asserted against or incurred
by Seller arising from a breach of Purchaser’s representation contained in this Section 6.01(b).

     6.02 Entire Agreement. This Agreement, including all schedules and exhibits hereto,
the Seller Closing Documents and the Purchaser Closing Documents supersede all prior discussions
and agreements between the parties with respect to the subject matter hereof and thereof, and
contain the sole and entire agreement between the parties hereto with respect to the subject matter
hereof and thereof.

     6.03 Waiver. Any term or condition of this Agreement may be waived at any time by the
party that is entitled to the benefit thereof, but no such waiver shall be effective unless set
forth in written instrument duly executed by or on behalf of the party waiving such term or
condition. No waiver by any party of any term or condition of this Agreement, in any one or more
instances, shall be deemed to be or construed as a waiver of the same or any other term or
condition of this Agreement on any future occasion. All remedies, either under this Agreement or
by applicable law or otherwise afforded, will be cumulative and not alternative.

     6.04 Modification. This Agreement may be amended, supplemented or modified only by a
written instrument duly executed by or on behalf of each party hereto.

     6.05 Successors and Assigns. The terms and provisions of this Agreement are intended
solely for the benefit of each party hereto and their respective successors or permitted assigns,
and it is not the intention of the parties to confer third-party beneficiary rights upon any other
person. Subject to the terms of Section 6.10 hereof, this Agreement is binding upon, inures to the
benefit of and is enforceable by the parties hereto and their respective successors and assigns.

     6.06 Interpretation. If any provision of this Agreement is held to be illegal,
invalid or unenforceable under any present or future law, and if the rights or obligations of any
party hereto under this Agreement will not be materially and adversely affected thereby, (a) such
provision will be fully severable, (b) this Agreement will be construed and enforced as if such
illegal, invalid or unenforceable provision had never comprised a part hereof, (c) the remaining
provisions of this Agreement will remain in full force and effect and will not be affected by the

8

 

illegal, valid or unenforceable provision or by its severance herefrom and (d) in lieu of such
illegal, invalid or unenforceable provision, there will be added automatically as a part of this
Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or
unenforceable provision as may be possible.

     6.07 Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Arizona applicable to a contract executed and performed in such
State, without giving effect to the conflicts of laws principles thereof.

     6.08 Counterparts. This Agreement may be executed in any number of counterparts, and
by facsimile signature, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

     6.09 Assignment. Purchaser shall not assign or transfer its rights or obligations
under this Agreement without the prior written consent of Seller, which consent may be granted or
denied in Seller’s reasonable discretion. Notwithstanding the foregoing, Purchaser shall have the
right, without Seller’s consent, to assign this Agreement to any affiliate of Purchaser controlled
by Purchaser, provided such assignee agrees to assume, pursuant to an instrument reasonably
acceptable to Seller, the obligations of Purchaser hereunder. No assignment of this Agreement by
Purchaser shall relieve the Purchaser named herein of its obligations hereunder and, subsequent to
any such assignment, the liability of such named Purchaser hereunder shall continue notwithstanding
any subsequent modification or amendment hereof or the release of any subsequent purchaser
hereunder from any liability, to all of which Purchaser consents in advance. No further assignment
or transfer shall be permitted.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

9

 

     IN WITNESS WHEREOF, Seller and Purchaser have executed and delivered this Agreement as of the
day and year first above written.

	 	 	 	 	 	 	 

	 	 	SELLER:
	 
	 	 	 	 	 	 
	 	 	SERIES C, LLC, an Arizona limited liability company
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Todd J. Weiss
 
 Todd
J. Weiss.	 	 
	 

	 	 	 	Authorized Officer	 	 
	 
	 	 	 	 	 	 
	 	 	PURCHASER:
	 
	 	 	 	 	 	 
	 	 	COLE CORPORATE INCOME OPERATING PARTNERSHIP, a Delaware limited partnership
	 
	 	 	 	 	 	 
	 	 	By: Cole Corporate Income Trust, Inc., a Maryland
corporation, its general partner

	 	 	 	 	 

	 

	 	By:
	 	/s/ D. Kirk McAllaster, Jr.
	 

	 	 	 	 
	 

	 	 	 	D. Kirk McAllaster, Jr.
	 

	 	 	 	Executive Vice President

10

 

SCHEDULE A

INSTRUMENT OF ASSIGNMENT AND ASSUMPTION

     INSTRUMENT OF ASSIGNMENT AND ASSUMPTION (this “Agreement”), dated this ____ day of
_____________, between SERIES C, LLC, an Arizona limited liability company (“Assignor”)
having an address at 2555 East Camelback Road, Suite 400, Phoenix, AZ 85016, and COLE CORPORATE
INCOME OPERATING PARTNERSHIP, a Delaware limited partnership (“Assignee”), as assignee,
having an address at 2555 East Camelback Road, Suite 400, Phoenix, AZ 85016.

W I
T N E S S E T H:

     WHEREAS, Assignor owns 100% of the membership interests (the “Interests”) in Cole OF
San Antonio TX, LLC, a Delaware limited liability company (“Cole San Antonio”); and

     WHEREAS, Assignor and Assignee are entering into this Agreement to evidence and confirm the
transfer and assignment of the Interests from Assignor to Assignee, and the assumption by Assignee
of the obligations and responsibilities attendant thereto, all from and after the date hereof.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Assignor hereby transfers, assigns and conveys to Assignee, its successors and
assigns forever, the Interests from and after the date hereof.

     TO HAVE AND TO HOLD, unto Assignee, its successors and assigns, forever.

     Assignor makes no representation or warranty, express or implied, in fact or by law, with
respect to the assets being conveyed hereunder, except as represented and warranted by Assignor in
the Purchase and Sale Agreement, dated as of February ____, 2011, between Assignor and Assignee
(the Purchase Agreement”), subject to the conditions and limitations set forth therein.

     Assignee hereby accepts such transfer, assignment and conveyance and assumes all of the
obligations of Assignor under the Material Organizational Documents (as defined in the Purchase
Agreement) arising from and after the date hereof, and agrees to be bound by the terms contained in
the Material Organizational Documents.

     From and after the date of this Agreement, Assignor withdraws, and relinquishes any and all of
its right, title and interest as a member and as manager of Cole San Antonio. Assignee
unconditionally and irrevocably consents to such withdrawal.

     Assignor shall indemnify, defend and hold harmless Assignee from all liabilities and losses
incurred by Assignee that both (i) arise under the Material Organizational Documents or otherwise
relate to ownership of the Interests; and (ii) occurred before the date of this Agreement.

 

 

     Assignee shall indemnify, defend and hold harmless Assignor from all liabilities and losses
incurred by Assignor that both (i) arise under the Material Organizational Documents or otherwise
relate to ownership of the Interests; and (ii) occurred on or after the date of this Agreement.

     This Agreement shall be binding upon, inure to the benefit of, and be enforceable by Assignor
and Assignee, and their respective successors and assigns.

     Whenever possible, each provision hereof shall be interpreted in such a manner as to be
effective and valid under applicable law, but if any provision hereof shall be prohibited by or
invalid under such law, then such provision shall be ineffective to the extent of such prohibition
or invalidity without invalidating the remainder of such provision or the remaining provisions of
this Agreement. This Agreement may not be modified, amended, altered or changed, nor any provision
hereof waived, except in writing with the mutual consent of all parties hereto.

     This Agreement shall be governed by and construed in accordance with the laws of the State of
Arizona (without reference to conflicts of laws principles).

     This Agreement may be executed in any number of counterparts, each of which shall be an
original, but all of which when taken together shall constitute a single original.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

 

     IN WITNESS WHEREOF, Assignor and Assignee have executed this Agreement on the date first set
forth above.

	 	 	 	 	 	 	 

	 	 	ASSIGNOR:
	 
	 	 	 	 	 	 
	 	 	SERIES C, LLC, an Arizona limited liability company
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 
 Todd
J. Weiss	 	 
	 

	 	 	 	Authorized Officer	 	 
	 
	 	 	 	 	 	 
	 	 	ASSIGNEE:
	 
	 	 	 	 	 	 
	 	 	COLE CORPORATE INCOME OPERATING PARTNERSHIP, a Delaware limited partnership
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Cole Corporate Income Trust, Inc., a Maryland
corporation, its general partner	 	 

	 	 	 	 	 

	 

	 	By:	 	 
	 

	 	 	 	 
 D.
Kirk McAllaster, Jr.
	 

	 	 	 	Executive Vice President

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