Document:

EX-10.8

GUARANTY

(Securities Laws)

THIS GUARANTY (“Guaranty”) is made as of this 2nd day of January, 2007 in
favor of LASALLE BANK NATIONAL ASSOCIATION, a national banking association, having an address at
135 South LaSalle Street, Suite 3410, Chicago, Illinois 60603 (together with its successors and
assigns, “Lender”) by NNN REALTY ADVISORS, INC., a Virginia corporation, having an address
at 1551 North Tustin Avenue, Ste. 300, Santa Ana, California 92705 (“Guarantor”).

BACKGROUND

A. Lender has agreed to loan the principal amount of Twelve Million and No/100 Dollars
($12,000,000.00) (“Loan”) to NNN Lenox Medical, LLC, a Delaware limited liability company,
(“Borrower”). The Loan also will be evidenced by Borrower’s promissory note to Lender of
even date herewith (“Note”) and secured by, among other things, a mortgage, deed of trust,
deed to secure debt or similar security instrument made by Borrower to Lender also of even date
herewith (“Security Instrument”) which grants to Lender, among other things, a first lien on the
property described therein.

B. Guarantor will derive substantial benefit from Lender’s making of the Loan.

C. Lender requires as a condition to making the Loan that Guarantor execute this Guaranty.

NOW, THEREFORE, to induce Lender to make the Loan, and in consideration of the substantial
benefit Guarantor will derive from the Loan, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby,
Guarantor hereby agrees as follows:

ARTICLE 1

DEFINED TERMS

Section 1.01 Defined Terms. Capitalized terms used in this Guaranty and not
specifically defined in this Guaranty have the meaning provided in the Security Instrument.

ARTICLE 2

OBLIGATION GUARANTEED

Section 2.01 Guaranty. Guarantor irrevocably and unconditionally guarantees to Lender
the prompt payment of all losses, expenses, and other liabilities arising out of or attributable to
(i) the violation of any applicable law governing the sale of securities in connection with the
structure, organization, sale or syndication of membership interests in NNN Lenox Medical, LLC, or
in the sale or syndication of tenant in common ownership interests in the Property, and (ii) the
Securities Liabilities (as hereinafter defined) and any legal or other expenses reasonably incurred
by Lender, in investigating or defending the Securities Liabilities, to the extent such Securities
Liabilities relate to any Securities and Exchange Commission investigation, inquiry or proceeding
relating to Triple Net Properties, LLC or any of its affiliates (collectively, the “Guaranteed
Obligations”). As used herein, the term “Securities Liabilities” shall mean any liability,
obligation or other remedy (including, without limitation, any right of rescission in favor of any
Borrower or any member of any Borrower) arising from or related to that certain investigation by
the Securities and Exchange Commission (the “SEC”) captioned “In the matter of Triple Net
Properties, LLC” (as well as any subsequent related investigation involving any affiliate of Triple
Net Properties, LLC) pursuant to which the SEC has requested information, including financial
information, from Triple Net Properties, LLC relating to disclosure in public and private
securities offerings sponsored by Triple Net Properties and its affiliates.

Section 2.02 Continuing Obligation. This Guaranty is a continuing guaranty and in
full force and effect and will be discharged only if and when the Loan has been paid in full, and
all obligations under the Security Instrument and other Loan Documents have been fully performed;
provided, however, that notwithstanding any of the foregoing to the contrary, this
Guaranty shall remain in full force and effect for so long as any payment hereunder may be voided
in bankruptcy proceedings as a preference or for any other reason.

Section 2.03 Direct Action Against Guarantor. Guarantor’s liability under this
Guaranty is a guaranty of payment and performance and not of collection. Lender has the right to
require Guarantor to pay, comply with and satisfy its obligations and liabilities under this
Guaranty, and shall have the right to proceed immediately against Guarantor with respect thereto,
without being required to attempt recovery first from Borrower or any other party, without first
suing on the Note or any other Loan Document and without demonstrating that the collateral for the
Loan is inadequate security or that Lender has exercised (to any degree) or exhausted any of
Lender’s other rights and remedies with respect to Borrower or any collateral for the Loan.

ARTICLE 3

GENERAL TERMS AND CONDITIONS

Section 3.01 Payments Due; Interest on Amounts Payable Hereunder. Amounts payable to
Lender under this Guaranty shall be immediately due and payable on Lender’s written demand and
shall be paid without reduction by set-off, defense, counterclaim or cross-claim. Amounts not paid
within ten (10) business days of Lender’s written demand shall, at Lender’s option and without
prejudice to Lender’s rights for failure to pay, bear interest at the Default Rate (as defined in
the Note) from the date of Lender’s demand notice until paid in full. Interest at the lower of the
Default Rate (or the maximum interest rate permitted by applicable law) also shall accrue on any
judgment obtained by Lender in connection with the enforcement or collection of amounts due under
this Guaranty until such judgment is paid in full. If interest paid or payable hereunder is deemed
to exceed the maximum rate permitted by law, then the amount to be paid shall be immediately
reduced to such maximum rate and thereafter computed at such maximum rate. Lender may apply all
money received by Lender in such priority and proportions as Lender may elect.

Section 3.02 Cumulative Remedies. Guarantor acknowledges, that following an Event of
Default with respect to the Loan, Lender shall be entitled to accelerate the Loan and exercise all
other rights and remedies as have been provided to Lender hereunder, under the other Loan
Documents, by law or in equity including without limitation enforcement of this Guaranty. All
rights and remedies are cumulative and may be exercised independently, concurrently or successively
in Lender’s sole discretion and as often as occasion therefor shall arise. Lender’s delay or
failure to accelerate the Loan or exercise any other remedy upon the occurrence of an Event of
Default with respect to the Loan shall not be deemed a waiver of such right as remedy. No partial
exercise by Lender of any right or remedy will preclude further exercise thereof. Notice or demand
given to Borrower in any instance will not entitle Borrower to notice or demand in similar or other
circumstances nor constitute Lender’s waiver of its right to take any future action in any
circumstance without notice or demand (except where expressly required by this Guaranty to be
given). Lender may release other security for the Loan, may release any party liable for the Loan,
may grant extensions, renewals or forbearances with respect thereto, may accept a partial or past
due payment or grant other indulgences, or may apply any other security held by it to payment of
the Loan, in each case without prejudice to its rights under this Guaranty and without such action
being deemed an accord and satisfaction or a reinstatement of the Loan. Lender will not be deemed
as a consequence of its delay or failure to act, or any forbearances granted, to have waived or be
estopped from exercising any of its rights or remedies.

Section 3.03 Enforcement Costs. Guarantor hereby agrees to pay, on written demand by
Lender, all costs incurred by Lender in collecting any amount payable under this Guaranty or
enforcing or protecting its rights under the Guaranty in each case whether or not legal proceedings
are commenced. Such fees and expenses include, without limitation, reasonable fees for attorneys,
paralegals and other hired professionals, a reasonable assessment of the cost of services performed
by Lender’s default management staff, court fees, costs incurred in connection with pre-trial,
trial and appellate level proceedings (including discovery and expert witnesses), costs incurred in
post-judgment collection efforts or in any bankruptcy proceeding. Amounts incurred by Lender shall
be immediately due and payable, and shall bear interest at the Default Rate from the date of
disbursement until paid in full, if not paid in full within ten (10) business days after Lender’s
written demand for payment.

Section 3.04 Unimpaired Liability. Guarantor acknowledges and agrees that all
obligations hereunder are and shall be absolute and unconditional under any and all circumstances
without regard to the validity, regularity or enforceability of any or all of the Loan Documents or
the existence of any other circumstance which might otherwise constitute a legal or equitable
discharge or defense of a guarantor or surety. Without limiting the foregoing, Guarantor
acknowledges and agrees that its liability hereunder shall in no way be released, terminated,
discharged, limited or impaired by reason of any of the following (whether or not Guarantor has any
knowledge or notice thereof): (a) the irregularity, invalidity or unenforceability, in whole or in
part, of any of the Loan Documents against Borrower or Lender; (b) Borrower’s lack of authority or
lawful right to enter into any of the Loan Documents; (c) any modification, supplement, extension,
consolidation, restatement, waiver or consent provided by Lender with respect to any of the Loan
Documents including, without limitation, approval of a Transfer or the grant of extensions of time
for payment or performance; (d) failure to record any Loan Document or to perfect any security
interest intended to be provided thereby or otherwise to protect, secure or insure any collateral
for the Loan; (e) Lender’s failure to exercise, or delay in exercising, any rights or remedies
Lender may have under the Loan Documents or under this Guaranty Agreement; (f) the release or
substitution, in whole or in part, of any collateral for the Loan or acceptance of additional
collateral for the Loan; (g) the release of Borrower from performance, in whole or in part, under
any of the other Loan Documents, in each case whether by operation of law, Lender’s voluntary act,
or otherwise; (h) any bankruptcy, insolvency, reorganization, adjustment, dissolution, liquidation
or other like proceeding involving or affecting Borrower, any member of Borrower, any other
Guarantor or Lender; (i) the termination or discharge of the Security Instrument or the exercise of
any power of sale or any foreclosure (judicial or otherwise) or delivery or acceptance of a
deed-in-lieu of foreclosure; (j) the existence of any claim, setoff, counterclaim, defense or other
rights which Guarantor may have against Borrower, any member of Borrower, any other Guarantor or
Lender, whether in connection with the Loan or any other transaction; (k) the accuracy or
inaccuracy of the representations and warranties made by Guarantor in this Guaranty; or (l) any
other circumstance which might otherwise constitute a legal or equitable discharge or defense of a
guarantor.

Section 3.05 Waivers. Guarantor hereby waives and relinquishes, to the fullest extent
permitted by law: (a) all rights or claims of right to cause a marshalling of assets or to cause
Lender to proceed against any of the collateral for the Loan before proceeding under this Guaranty
against it; (b) all rights and remedies accorded by applicable law to sureties or guarantors,
except any rights of subrogation and contribution (the exercise of which are subject to the terms
of this Guaranty); (c) the right to assert a counterclaim, other than a mandatory or compulsory
counterclaim, in any action or proceeding brought by or against it; (d) notice of acceptance of
this Guaranty and of any action taken or omitted in reliance hereon; (e) presentment for payment,
demand, protest, notice of nonpayment or failure to perform or observe, or any other proof, notice
or demand to which it might otherwise be entitled with respect to its obligations hereunder; and
(f) all homestead or exemption rights against the obligations hereunder and the benefits of any
statutes of limitation or repose.

Section 3.06 Guarantor Bound by Judgment Against Borrower. Guarantor agrees that it
shall be bound conclusively, in any jurisdiction, by the judgment in any action by Lender against
Borrower in connection with the Loan Documents (wherever instituted) as if Guarantor were a party
to such action even if not so joined as a party.

Section 3.07 Certain Consequences of Borrower’s Bankruptcy. (a) If Borrower shall be
subject to the protection of the Bankruptcy Code or any insolvency law the effect of which is to
prevent or delay Lender from taking any remedial action against Borrower, including the exercise of
any option Lender has to accelerate and declare the Loan immediately due and payable, Lender may,
as against Guarantor, nevertheless declare the Loan due and payable and enforce any or all of its
rights and remedies against Guarantor as provided herein.

(b) Any payment made on the Loan, whether made by Borrower or Guarantor or any other Person,
that is required to be refunded or recovered from Lender as a preference or a fraudulent transfer
or is otherwise set-aside pursuant to the Bankruptcy Code or any insolvency or other debtor relief
law shall not be considered as a payment made on the Loan or under this Guaranty. Guarantor’s
liability under this Guaranty shall continue with respect to any such payment, or be deemed
reinstated, with the same effect as if such payment had not been received by Lender,
notwithstanding any notice of revocation of this Guaranty prior to such avoidance or recovery or
payment in full of the Loan, until such time as all periods have expired within which Lender could
be required to return any amount paid at any time on account of the Guaranteed Obligations.

(c) Until payment in full of the Loan (including interest accruing on the Note after the
commencement of a proceeding by or against Borrower under the Bankruptcy Code, which interest the
parties agree remains a claim that is prior and superior to any claim of Guarantor notwithstanding
any contrary practice, custom or ruling in cases under the Bankruptcy Code generally), Guarantor
agrees not to accept any payment or satisfaction of any kind of indebtedness of Borrower to
Guarantor and hereby assigns such indebtedness to Lender, including the right (but not the
obligation) to file proof of claim and to vote in any other bankruptcy or insolvency action,
including the right to vote on any plan of reorganization, liquidation or other proposal for debt
adjustment under Federal or state law.

Section 3.08 Subrogation and Contribution. Guarantor agrees that no payment by it
under this Guaranty shall give rise to any rights of subrogation against Borrower or the collateral
for the Loan, unless and until Lender has received full and indefeasible payment of the Loan. If
the deferral of such rights shall be unenforceable for any reason, Guarantor agrees that its rights
of subrogation shall be junior and subordinate to Lender’s rights against Borrower and the
collateral for the Loan.

Section 3.09 Subordination of Borrower’s Obligations to Guarantor. Any indebtedness
of Borrower to Guarantor, now or hereafter existing, together with any interest thereon, shall be
and hereby is deferred, postponed and subordinated to the prior payment in full of the Loan.
Further, Guarantor agrees that following the occurrence of an Event of Default, should Guarantor
receive any payment, satisfaction or security for any indebtedness owed by Borrower to it, the same
shall be delivered to Lender in the form received (endorsed or assigned as may be appropriate) for
application on account of, or as security for, the Loan and until so delivered to Lender, shall be
held in trust for Lender as security for the Loan.

Section 3.10 Lender Transferees; Secondary Market Activities. Guarantor acknowledges
and agrees that Lender, without notice to Guarantor or Guarantor’s prior consent, may assign all or
any portion of its rights hereunder in connection with any sale or assignment of the Loan or
servicing rights related to the Loan, each grant of participations in the Loan, a transfer of the
Loan as part of a securitization of the Loan (a “Securitization”) in which Lender assigns its
rights to a securitization trustee, or a contract for the servicing of the Loan, and that each such
assignee, participant or servicer shall be entitled to exercise all of Lender’s rights and remedies
hereunder. Guarantor further acknowledges that Lender may provide to third parties with an
existing or prospective interest in the servicing, enforcement, ownership, purchase, participation
or Securitization of the Loan, including, without limitation, any rating agency rating the
securities issued in respect of a Securitization or participation of the Loan, and any entity
maintaining databases on the underwriting and performance of commercial mortgage loans, any and all
information which Lender now has or may hereafter acquire relating to the Loan, the Property or
with respect to Borrower or Guarantor, as Lender determines necessary or desirable. Guarantor
irrevocably waives all rights it may have under applicable law, if any, to prohibit such
disclosure, including, without limitation, any right of privacy.

Section 3.11 Financial Reports, Inspection of Records. Guarantor agrees to furnish to
Lender from time to time, by such dates as Lender may require (but no more frequently than annually
unless an Event of Default under the Security Instrument or any other Loan Document exists, in
which event Lender may require same from time to time), Guarantor’s Federal and State income tax
returns, a personal financial statement if Guarantor is an individual and a balance sheet and
statement of changes in Guarantor’s financial position if Guarantor is not an individual, in each
case certified by such Guarantor as complete and accurate. Such financial statements shall be in
reasonable detail and prepared in accordance with consistently applied accounting methods
reasonably acceptable to Lender.

ARTICLE 4

REPRESENTATIONS AND WARRANTIES

	 	 	 
	Section 4.01

	 	Intentionally Omitted.
	
 
	 	 
	Section 4.02

	 	General. Guarantor individually represents and warrants that:
	
 
	 	 

(a) Authority. Guarantor has the full power and authority to execute and deliver this
Guaranty and to perform its obligations hereunder.

(b) Valid and Binding Obligation. This Guaranty constitutes Guarantor’s legal, valid
and binding obligation, enforceable against it in accordance with its terms, except to the extent
enforceability may be limited under applicable bankruptcy and insolvency laws and similar laws
affecting creditors’ rights generally and to general principles of equity.

(c) No Conflict with Other Agreement. Guarantor’s execution, delivery and performance
of this Guaranty will not (i) violate Guarantor’s organizational documents if Guarantor is not an
individual, (ii) result in the breach of, or conflict with, or result in the acceleration of, any
obligation under any guaranty, indenture, credit facility or other instrument to which Guarantor or
any of its assets may be subject, or (iii) violate any order, judgment or decree to which Guarantor
or any of its assets is subject.

(d) No Pending Litigation. Except as otherwise disclosed to Lender, no action, suit,
proceeding or investigation currently is pending or, to the best of Guarantor’s knowledge,
threatened against Guarantor which, either in any one instance or in the aggregate, may have a
material, adverse effect on Guarantor’s ability to perform its obligations under this Guaranty.

(e) Consideration. Guarantor will derive substantial benefit from the Loan to
Borrower.

ARTICLE 5

MISCELLANEOUS

Section 5.01 Notices. All notices and other communications under this Guaranty are to
be in writing and addressed in the case of Lender to the address as set forth below and in the case
of Guarantor, as set forth below Guarantor’s signature hereto. Default or demand notices shall be
deemed to have been duly given upon the earlier of: (a) actual receipt; (b) one (1) business day
after having been timely deposited for overnight delivery, fee prepaid, with a reputable overnight
courier service, having a reliable tracking system; (c) one (1) business day after having been sent
by telecopier (with answer back acknowledged) provided an additional notice is given pursuant to
(b); or (d) three (3) business days after having been deposited in any post office or mail
depository regularly maintained by the U.S. Postal Service and sent by certified mail, postage
prepaid, return receipt requested, and in the case of clause (b) and (d) irrespective of whether
delivery is accepted. A new address for notice may be established by written notice to the other
parties; provided, however, that no address change will be effective until written notice thereof
actually is received by the party to whom such address change is sent. Lender’s notice address is
as follows:

LaSalle Bank National Association

135 South LaSalle Street, Suite 3410

Chicago, Illinois 60603

Attention: Real Estate Capital Markets

Facsimile No.: (312) 904-0900

Section 5.02 Entire Agreement; Modification. This Guaranty is the entire agreement
between the parties hereto with respect to the subject matter hereof, and supersedes and replaces
all prior discussions, representations, communications and agreements (oral or written). This
Guaranty shall not be modified, supplemented, or terminated, nor any provision hereof waived,
except by a written instrument signed by the party against whom enforcement thereof is sought, and
then only to the extent expressly set forth in such writing.

Section 5.03 Binding Effect; Joint and Several Obligations. This Guaranty is binding
upon and inures to the benefit of Guarantor, Lender and their respective heirs, executors, legal
representatives, successors, and assigns, whether by voluntary action of the parties or by
operation of law. Guarantor may not delegate or transfer its obligations under this Guaranty. If,
at any time during the term of the Loan, there is more than one Guarantor, each Guarantor shall be
jointly and severally liable hereunder.

Section 5.04 Unenforceable Provisions. Any provision of this Guaranty which is
determined by a court of competent jurisdiction or government body to be invalid, unenforceable or
illegal shall be ineffective only to the extent of such determination and shall not affect the
validity, enforceability or legality of any other provision, nor shall such determination apply in
any circumstance or to any party not controlled by such determination.

Section 5.05 Duplicate Originals; Counterparts. This Guaranty may be executed in any
number of duplicate originals, and each duplicate original shall be deemed to be an original. This
Guaranty (and each duplicate original) also may be executed in any number of counterparts, each of
which shall be deemed an original and all of which together constitute a fully executed Guaranty
even though all signatures do not appear on the same document.

Section 5.06 Construction of Certain Terms. Defined terms used in this Guaranty may
be used interchangeably in singular or plural form, and pronouns shall be construed to cover all
genders. Article and section headings are for convenience only and shall not be used in
interpretation of this Guaranty. The words “herein,” “hereof” and “hereunder” and other words of
similar import refer to this Guaranty as a whole and not to any particular section, paragraph or
other subdivision; and the word “section” refers to the entire section and not to any particular
subsection, paragraph of other subdivision; and “Guaranty” and each of the Loan Documents referred
to herein mean the agreement as originally executed and as hereafter modified, supplemented,
extended, consolidated, or restated from time to time.

Section 5.07 GOVERNING LAW; JURISDICTION. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAW
PRINCIPLES. INDEMNITORS HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF ANY COURT OF COMPETENT
JURISDICTION LOCATED IN THE CITY OF CHICAGO AND STATE OF ILLINOIS IN CONNECTION WITH ANY PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT.

Section 5.08 Intentionally Omitted

Section 5.09 WAIVER OF JURY TRIAL. GUARANTOR AND LENDER HERERBY AGREE NOT TO ELECT A
TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO
THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS GUARANTY, THE NOTE,
THE SECURITY INSTRUMENT OR THE OTHER LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION
ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND
VOLUNTARILY BY GUARANTOR AND LENDER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND
EACH ISSUE AS TO WHICH RIGHT TO TRIAL BY JURY WOULD OTHERWISE ACCRUE. GUARANTOR AND LENDER EACH
ARE HEREBY AUTHORIZED TO FILE A COPY OF THIS SECTION IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF
THIS WAIVER BY EACH OTHER.

[Remainder of page is blank; signatures appear on next page.]

1

IN WITNESS WHEREOF, the undersigned hereby signs, seals and delivers this Guaranty.

NNN REALTY ADVISORS, INC., a

Virginia corporation

	 	 	 
	By:

	 	/s/ Andrea R. Biller
	
 
	 	 
	Name:

	 	Andrea R. Biller
	
 
	 	 
	Its:

	 	EVP
	
 
	 	 

	 	 	Address for Notice:

1551 North Tustin Avenue, Ste. 300

Santa Ana, California 92705

Fax: 714-667-0611

2EX-10.9

HAZARDOUS SUBSTANCES INDEMNIFICATION AGREEMENT

THIS HAZARDOUS SUBSTANCES INDEMNIFICATION AGREEMENT (this “Agreement”) is made as of January
2, 2007 by NNN Lenox Medical, LLC, a Delaware limited liability company (“Borrower”) and Triple Net
Properties, LLC, a Virginia limited liability company (said individuals or entities are hereinafter
referred to jointly as “Guarantors”) (Borrower and the Guarantors are hereinafter collectively
referred to as the “Indemnitors”) to and for the benefit of LaSalle Bank National Association, a
national banking association, its successors and assigns (“Lender”).

R E C I T A L S:

A. Lender has agreed to loan to Borrower the principal amount of $12,000,000.00 (the “Loan”).
The Loan shall be evidenced by a certain Promissory Note of even date herewith (the “Note”), and
shall be secured by, among other things, that certain Guaranty of even date herewith) (the
“Guaranty”) made by the Guarantors.

B. A condition precedent to Lender’s extension of the Loan to Borrower is the execution and
delivery of this Agreement by Indemnitors.

C. Subsequent to the closing of the Loan, subject to the terms of Paragraph 15 of the Security
Instrument (hereinafter defined), Borrower may transfer undivided tenant in common interests in the
Property (provided, however, there may be no more than thirty-five (35) tenants in common in the
aggregate), including Borrower, with the consent of Lender, as more specifically set forth in one
or more Loan Assumption, Ratification and Consent Agreement(s) by and between Borrower, Guarantor,
the tenant(s) in common and Lender executed concurrently herewith or subsequently hereafter.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, each Indemnitor hereby jointly and severally agrees as follows:

ARTICLE I

DEFINITIONS

Section 1.1. Definitions. As used herein, the following terms shall have the
following meanings:

“Asbestos”: Asbestos or any substance containing asbestos.

“Environmental Law”: Any present or future federal, state and/or local law,
statute, ordinance, code, rule, regulation, license, authorization, decision, order,
injunction or decree and/or other governmental directive or requirement, as well as common
law, which pertains or relates to health, safety or the environment (including but not
limited to, ground or air or water or noise pollution or contamination, and underground or
aboveground tanks) and shall include, without limitation, the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended (“CERCLA”), the Resource
Conservation and Recovery Act of 1976, as amended (“RCRA”), and any state or federal lien or
superlien or environmental clean-up statutes, and regulations, rules, guidelines, or
standards promulgated pursuant thereto all as amended from time to time.

“Environmental Report”: The environmental report dated November 30, 2006,
prepared by LandAmerica Commercial Services, a true, correct and complete copy of which has
been delivered to Lender.

“Hazardous Substance”: Any substance, whether solid, liquid or gaseous:
(i) which is listed, defined or regulated as a “hazardous substance,” “hazardous waste” or
“solid waste,” or otherwise classified as hazardous or toxic, in or pursuant to any
Environmental Law; or (ii) which is or contains Asbestos, radon, any polychlorinated
biphenyl, urea formaldehyde foam insulation, explosive or radioactive material, lead paint,
microbial matter, biological toxins, mold or mold spores, or motor fuel or other petroleum
hydrocarbons; or (iii) which causes or poses a threat to cause a contamination or nuisance
on the Property or any adjacent property or a hazard to the environment or to the health or
safety of persons on or about the Property.

“Release”: Includes, but is not limited to, any release, deposit, discharge,
emission, leaking, spilling, seeping, migrating, injecting, pumping, pouring, emptying,
escaping, dumping, disposing or other movement of Hazardous Substances.

“Remediation”: Any investigation, site monitoring, containment, cleanup,
removal, restoration, or other activity of any kind which are reasonably necessary or
desirable under an applicable Environmental Law.

“Security Instrument”: That certain Deed of Trust, Security Agreement and
Fixture Filing, of even date herewith, executed by Borrower for the benefit of Lender,
covering the Property more particularly described therein, including the real property or
interest therein described in Exhibit A attached hereto and incorporated herein by
this reference.

“Storage Tanks”: Any underground or aboveground storage tanks, whether full,
empty, or partially full with any substance.

Section 1.2. Other Defined Terms. Any capitalized term utilized herein shall have the
meaning as specified in the Security Instrument, unless such term is otherwise specifically defined
herein.

ARTICLE II

WARRANTIES AND REPRESENTATIONS

Indemnitors hereby represent and warrant to Lender, to the best of Indemnitors’ knowledge,
after due inquiry and investigation, which was limited to providing Lender the Environmental Report
and any other reasonable investigation as set forth in Section 2.5 below, as follows:

Section 2.1. Property Compliance. The Property and the operations conducted thereon
do not violate any Environmental Laws.

Section 2.2. No Violations. Without limitation to Section 2.1 above, except as
previously disclosed in writing to Lender, the Property and operations conducted thereon by the
current owner or operator of the Property, are not the subject of any existing, pending, or
threatened action, suit, investigation, inquiry, or proceeding by any governmental or
nongovernmental entity or person or to any Remediation under any Environmental Law.

Section 2.3. Authorizations. All notices, permits, licenses, registrations, or
similar authorizations, if any, required to be obtained or filed in connection with the ownership,
operation, or use of the Property, including, without limitation, the existence of any Storage
Tanks at the Property or the past or present generation, treatment, storage, disposal, or release
of a Hazardous Substance into the environment, have been duly obtained or filed and have been duly
renewed or maintained.

Section 2.4. Hazardous Substance. The Property does not contain any Hazardous
Substance in violation of applicable Environmental Laws or that does or could present a threat to
human health and safety. Except as disclosed in writing to Lender, the Property does not contain
any Storage Tanks or Asbestos and the Property is not listed by any governmental agency as
containing any Hazardous Substance.

Section 2.5. Indemnitors Investigation. Indemnitors have taken commercially
reasonable steps necessary to determine, and have determined, that no Hazardous Substances are,
have been or threatened to be generated, treated, stored, used, disposed of or released on, under,
from, or about the Property except in compliance with applicable Environmental Laws and/or as
could not be anticipated to result in a nuisance condition or threat to human health and safety.

Section 2.6. Indemnitors Compliance. Indemnitors have not undertaken, permitted,
authorized, or suffered and will not undertake, permit, authorize, or suffer the presence, use,
manufacture, handling, generation, transportation, storage, treatment, discharge, release, burial,
or disposal on, under, from or about the Property of any Hazardous Substance or the transportation
to or from the Property of any Hazardous Substance except in compliance with applicable
Environmental Laws and/or as could not be anticipated to result in a nuisance condition or threat
to human health and safety.

Section 2.7. No Pending Litigation. Except as otherwise previously disclosed to
Lender in writing, there is no pending or threatened litigation, proceedings, or investigations
before or by any administrative agency in which any person or entity alleges or is investigating
any alleged presence, release, threat of release, placement on, under, from or about the Property,
or the manufacture, handling, generation, transportation, storage, treatment, discharge, burial, or
disposal on, under, from or about the Property, or the transportation to or from the Property, of
any Hazardous Substance.

Section 2.8. No Notices. Except as otherwise previously disclosed to Lender in
writing, Indemnitors have not received any notice, and have no actual or constructive knowledge,
that any governmental authority or any employee or agent thereof has determined, or threatens to
determine, or is investigating any allegation that there is a presence, release, threat of release,
placement on, under, from or about the Property, or the use, manufacture, handling, generation,
transportation, storage, treatment, discharge, burial, or disposal on, under, from or about the
Property, or the transportation to or from the Property, of any Hazardous Substance.

Section 2.9. No Communications. Except as otherwise previously disclosed to Lender in
writing, there have been no communications or agreements with any governmental authority thereof or
any private entity, including, but not limited to, any prior owners or operators of the Property,
relating in any way to the presence, release, threat of release, placement on, under or about the
Property, or the use, manufacture, handling, generation, transportation, storage, treatment,
discharge, burial, or disposal on, under or about the Property, or the transportation to or from
the Property, of any Hazardous Substance, except for communications made in the ordinary course of
business in connection with permits, reports, and routine inspections issued, prepared or conducted
by government agencies or authorities having jurisdiction over the Property.

Section 2.10. Other Properties. Neither Indemnitors, nor, to the best knowledge of
Indemnitors, any other person, including, but not limited to, any predecessor owner, tenant,
licensee, occupant, user, or operator of all or any portion of the Property, has ever caused,
permitted, authorized or suffered, and Indemnitors will not cause, permit, authorize, or suffer,
any Hazardous Substance to be placed, held, located, or disposed of, on, under or about any other
real property, all or any portion of which is legally or beneficially owned (or any interest or
estate therein which is owned) by Indemnitors in any jurisdiction now or hereafter having in effect
a so-called “superlien” law or ordinance or any part thereof, the effect of which law or ordinance
would be to create a lien on the Property to secure any obligation in connection with the
“superlien” law of such other jurisdiction.

Section 2.11. Permits. Borrower has been issued all required federal, state, and
local licenses, certificates, or permits relating to, and Borrower and the Property are in
compliance in all respects with all applicable Environmental Laws, including but not limited to,
federal, state, and local laws, rules, and regulations relating to, air emissions, water discharge,
noise emissions, solid or liquid waste disposal, hazardous waste or materials, or other
environmental, health, or safety matters.

Section 2.12. Release To Property. There is no threat of any Release of any Hazardous
Substance migrating to the Property except as described in the Environmental Report.

Section 2.13. All Information. Indemnitors have truthfully and fully provided to
Lender, in writing, any and all information relating to environmental conditions in, on, under or
from the Property known to Indemnitors or contained in Indemnitors’ files and records, including
but not limited to any reports relating to any Hazardous Substance in, on, under or migrating to or
from the Property and/or to the environmental condition of the Property.

ARTICLE III

AFFIRMATIVE COVENANTS

Indemnitors hereby unconditionally covenant and agree with Lender, until the entire Loan (as
defined in the Note) shall have been paid in full and all of the obligations of Borrower under the
Loan Documents shall have been fully performed and discharged, as follows:

Section 3.1. Operations. Borrower shall not use, generate, manufacture, produce,
store, release, discharge, treat, or dispose of on, under, from or about the Property or transport
to or from the Property any Hazardous Substance or allow any other person or entity to do so except
in compliance with Environmental Laws. Borrower shall not install or permit to be installed any
Asbestos or Storage Tanks at the Property and shall remedy all violations of Environmental Laws
with respect thereto including, but not limited to, removal of Asbestos and/or Storage Tanks in the
manner and as required by applicable Environmental Laws.

Section 3.2. Compliance. Borrower shall keep and maintain the Property in compliance
with, and shall not cause or permit the Property to be in violation of, any Environmental Law and
upon discovery of any noncompliance shall promptly take corrective action to remedy such
noncompliance.

Section 3.3. Monitoring. Borrower shall establish and maintain, at Borrower’s sole
expense, a system to assure and monitor continued compliance with Environmental Laws, the existence
of any Storage Tank on the Property and the presence of Hazardous Substances on the Property, by
any and all owners or operators of the Property, which system shall include, upon request of
Lender, the execution and delivery to Lender of a certain Annual Environmental Questionnaire in the
form attached hereto as Exhibit B by a duly authorized officer, partner, or manager, as
applicable, of Borrower who is familiar with the Property and the requirements of applicable
Environmental Law, and, at the request of Lender (which request shall not be made by Lender unless
(a) an Event of Default shall have occurred, (b) a material adverse change shall have occurred in
the financial condition of the Borrower or the Property as determined by Lender, or (c) facts or
circumstances as determined by Lender occur or arise, including any change of tenants, which could
result in an increased risk that Hazardous Substances will be present (or present in greater
quantities) or discharged at the Property or that the Environmental Laws will not be complied with)
no more than once each year, a detailed review of such compliance of the environmental condition of
the Property (“Environmental Compliance Report”) in scope satisfactory to Lender by an
environmental consulting firm approved in advance by Lender; provided, however, that if any
Environmental Compliance Report indicates a violation of any Environmental Law or a need for
Remediation, such system shall include at the request of Lender a detailed review (“Environmental
Remediation Report”) of the status of such violation by such environmental consultant. Borrower
shall furnish each Environmental Compliance Report or Environmental Remediation Report to Lender
within sixty (60) days after Lender so requests, together with such additional information as
Lender may reasonably request. If Borrower fails to contract for such an Environmental Compliance
Report or Environmental Remediation Report after ten (10) days notice, or fails to provide either
such report within sixty (60) days, Lender may order same, and Borrower grants to Lender and its
employees, agents, contractors and consultants access to the Property and a license (which is
coupled with an interest and irrevocable while the Security Instrument is in effect) to perform
inspections and tests, including (but not limited to) the taking of soil borings and air and
groundwater samples. All costs of such reports, inspections and tests shall be an obligation of
Indemnitors which Indemnitors promise to pay to Lender pursuant to this Agreement. All such costs
shall constitute a portion of the Loan, secured by the Security Instrument and the other Loan
Documents.

Section 3.4. Notices. Indemnitors shall give prompt written notices to Lender of:
(a) any proceeding or inquiry by any governmental or nongovernmental entity or person with respect
to the presence of any Hazardous Substance on, under, from or about the Property, the migration
thereof from or to other property, the disposal, storage, or treatment of any Hazardous Substance
generated or used on, under or about the Property, (b) all claims made or threatened by any third
party against Indemnitors or the Property or any other owner or operator of the Property relating
to any release reportable under any applicable Environmental Law, loss or injury resulting from any
Storage Tank or Hazardous Substance, and (c) Indemnitors’ discovery of any occurrence or condition
on any real property adjoining or in the vicinity of the Property that could cause the Property or
any part thereof to be subject to any investigation or cleanup of the Property pursuant to any
Environmental Law or that could result in Indemnitors becoming liable for any cost related to any
investigation or cleanup of such Property.

Section 3.5. Legal Proceedings. Indemnitors shall permit Lender to join and
participate in, as a party if it so elects, any legal proceedings or actions initiated with respect
to the Property in connection with any Environmental Law, Hazardous Substance or Storage Tank and
Indemnitors shall pay all reasonable attorneys’ fees incurred by Lender in connection therewith.

Section 3.6. Remediation. In the event that the Property (or any portion thereof)
becomes the subject of any Remediation, Indemnitors shall commence such Remediation no later than
the earlier of (a) thirty (30) days after written demand by Lender for performance thereof, or (b)
such shorter period of time as may be required under applicable law, and thereafter shall
diligently prosecute the same to completion in accordance with applicable law. All Remediation
shall be performed by contractors approved in advance by Lender, and under the supervision of a
consulting engineer approved by Lender. All costs and expenses of such Remediation shall be paid
by Indemnitors, including, without limitation, Lender’s reasonable attorneys’ fees and costs
incurred in connection with monitoring or review of such Remediation. In the event Indemnitors
shall fail to timely commence, or cause to be commenced, or fail to diligently prosecute to
completion, such Remediation, Lender may, but shall not be required to, cause such Remediation to
be performed, and all costs and expenses thereof, or incurred in connection therewith, shall become
part of the Loan.

ARTICLE IV

INDEMNIFICATION

INDEMNITORS SHALL PROTECT, INDEMNIFY, DEFEND AND HOLD HARMLESS LENDER, ITS PARENTS,
SUBSIDIARIES, TRUSTEES, SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, AGENTS,
SUCCESSORS AND ASSIGNS (COLLECTIVELY, “INDEMNIFIED PARTIES”) FROM AND AGAINST ALL LIABILITIES,
OBLIGATIONS, CLAIMS, DEMANDS, DAMAGES, INJURIES, PENALTIES, CAUSES OF ACTION, LOSSES, FINES, COSTS
AND EXPENSES (INCLUDING WITHOUT LIMITATION CONSEQUENTIAL DAMAGES AND REASONABLE ATTORNEYS’ FEES AND
EXPENSES), DIRECTLY OR INDIRECTLY ARISING FROM OR RELATED TO (A) ANY BREACH OF A REPRESENTATION,
WARRANTY OR COVENANT CONTAINED HEREIN, AND/OR (B) ANY RELEASE OF OR EXPOSURE TO ANY HAZARDOUS
SUBSTANCE (INCLUDING PERSONAL INJURY OR DAMAGE TO PROPERTY), NONCOMPLIANCE WITH ANY ENVIRONMENTAL
LAW, REMEDIATION, OR ARISING UNDER ANY ENVIRONMENTAL LAW.

ARTICLE V

GENERAL

Section 5.1. Unimpaired Liability. The liability of Indemnitors under this Agreement
shall in no way be limited or impaired by, and Indemnitors hereby consent to and agree to be bound
by, any amendment or modification of the provisions of the Note, the Security Instrument or any
other document which evidences, secures or guarantees all or any portion of the Loan or is executed
and delivered in connection with the Loan (the “Loan Documents”) to or with Lender by Borrower or
any person who succeeds Borrower or any person as owner of the Property. In addition, the
liability of Indemnitors under this Agreement shall in no way be limited or impaired by (i) any
extensions of time for performance required by the Note, the Security Instrument or any of the Loan
Documents, (ii) any sale or transfer of all or part of the Property, (iii) except as provided
herein, any exculpatory provision in the Note, the Security Instrument, or any of the Loan
Documents limiting Lender’s recourse to the Property or to any other security for the Note, or
limiting Lender’s rights to a deficiency judgment against Borrower, (iv) the accuracy or inaccuracy
of the representations and warranties made by Borrower under the Note, the Security Instrument or
any of the Loan Documents or herein, (v) the release of one or more Indemnitors or any other person
from performance or observance of any of the agreements, covenants, terms or conditions contained
in any of the Loan Documents by operation of law, Lender’s voluntary act, or otherwise, (vi) the
release or substitution in whole or in part of any security for the Note, or (vii) Lender’s failure
to record the Security Instrument or file any UCC financing statements (or Lender’s improper
recording or filing of any thereof) or to otherwise perfect, protect, secure or insure any security
interest or lien given as security for the Note; and, in any such case, whether with or without
notice to Indemnitors and with or without consideration.

Section 5.2. Enforcement. Indemnified Parties may enforce the obligations of
Indemnitors without first resorting to or exhausting any security or collateral or without first
having recourse to the Note, the Security Instrument, or any Loan Documents or any of the Property,
through foreclosure proceedings or otherwise, provided, however, that nothing herein shall inhibit
or prevent Lender from suing on the Note, foreclosing, or exercising any power of sale under, the
Security Instrument, or exercising any other rights and remedies thereunder. This Agreement is not
collateral or security for the debt of Indemnitors pursuant to the Loan, unless Lender expressly
elects in writing to make this Agreement additional collateral or security for the debt of Borrower
pursuant to the Loan, which Lender is entitled to do in its sole discretion. It is not necessary
for an Event of Default to have occurred pursuant to and as defined in the Security Instrument for
Indemnified Parties to exercise their rights pursuant to this Agreement. Notwithstanding any
provision of the Security Instrument, the obligations pursuant to this Agreement are exceptions to
any non-recourse or exculpation provision of the Security Instrument; Indemnitors are fully,
personally, jointly and severally liable for such obligations, and their liability is not limited
to the original or amortized principal balance of the Loan or the value of the Property.

Section 5.3. Waivers. (a) Indemnitors hereby waive (i) any right or claim of right to
cause a marshalling of any Indemnitor’s assets or to cause Lender or other Indemnified Parties to
proceed against any of the security for the Loan before proceeding under this Agreement against any
Indemnitors; (ii) and relinquish all rights and remedies accorded by applicable law to indemnitors
or guarantors, except any rights of subrogation which Indemnitors may have, provided that the
indemnity provided for hereunder shall neither be contingent upon the existence of any such rights
of subrogation nor subject to any claims or defenses whatsoever which may be asserted in connection
with the enforcement or attempted enforcement of such subrogation rights including, without
limitation, any claim that such subrogation rights were abrogated by any acts of Lender or other
Indemnified Parties; (iii) the right to assert a counterclaim, other than a mandatory or compulsory
counterclaim, in any action or proceeding brought against or by Lender or other Indemnified
Parties; (iv) notice of acceptance hereof and of any action taken or omitted in reliance hereon;
(v) presentment for payment, demand of payment, protest or notice of nonpayment or failure to
perform or observe, or other proof, or notice or demand; and (vi) all homestead exemption rights
against the obligations hereunder and the benefits of any statutes of limitations or repose.
Notwithstanding anything to the contrary contained herein, Indemnitors hereby agree to postpone the
exercise of any rights of subrogation with respect to any collateral securing the Loan until the
Loan shall have been paid in full. No delay by any Indemnified Party in exercising any right,
power or privilege under this Agreement shall operate as a waiver of any such right, power or
privilege.

ARTICLE VI

MISCELLANEOUS

Section 6.1. Survival of Obligations. Each and all of the representations, covenants
and agreements and indemnities contained herein shall survive any termination, satisfaction or
assignment of the Loan Documents or the entry of a judgment of foreclosure, sale of the Property by
nonjudicial foreclosure sale, delivery of a deed in lieu of foreclosure or the exercise by Lender
of any of its other rights and remedies under the Loan Documents; provided, however, that such
covenants, agreements and indemnities shall not apply to (a) events occurring after transfer of the
Property to Lender (or its designee) pursuant to a foreclosure of the Security Instrument (or
otherwise in satisfaction thereof) which are based upon or arise out of circumstances or conditions
which are not caused by any Indemnitor and which are first created or which first arise or come
into existence after such transfer or (b) legal requirements which are first enacted after such
transfer. Notwithstanding the foregoing, the covenants and agreements and indemnities contained in
this Section 6.1 shall terminate two (2) years after the Note has been paid in full and all
obligations of Borrower and Guarantor under the Loan Documents are satisfied, provided Borrower has
delivered to Lender a Phase I environmental assessment of the Property in form and substance
reasonable satisfactory to Lender which concludes that there are no Hazardous Substances in, on or
adjacent to the Property.

Section 6.2. Joint and Several. The obligations and liabilities of the Indemnitors
under this Agreement shall be joint and several.

Section 6.3. Notices. All notices or other communications required or permitted to be
given hereunder shall be given to the parties and become effective as provided in the Security
Instrument.

Section 6.4. Binding Effect. This Agreement shall be binding on the parties hereto,
their successors, assigns, heirs and legal representatives and all other persons claiming by,
through or under them.

Section 6.5. Counterparts. This Agreement may be executed in any number of
counterparts each of which shall be deemed to be an original but all of which when taken together
shall constitute one agreement.

Section 6.6. Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAW
PRINCIPLES. INDEMNITORS HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF ANY COURT OF COMPETENT
JURISDICTION LOCATED IN THE CITY OF CHICAGO AND STATE OF ILLINOIS IN CONNECTION WITH ANY PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT.

Section 6.7. Waiver of Trial by Jury. INDEMNITORS HEREBY WAIVE THEIR RIGHT TO A TRIAL
BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE
EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE NOTE, THIS AGREEMENT OR
THE OTHER LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION
THEREWITH INCLUDING, BUT NOT LIMITED TO THOSE RELATING TO (A) ALLEGATIONS THAT A PARTNERSHIP EXISTS
BETWEEN ANY INDEMNITOR AND LENDER; (B) USURY OR PENALTIES OR DAMAGES THEREFOR; (C) ALLEGATIONS OF
UNCONSCIONABLE ACTS, DECEPTIVE TRADE PRACTICE, LACK OF GOOD FAITH OR FAIR DEALING, LACK OF
COMMERCIAL REASONABLENESS, OR SPECIAL RELATIONSHIPS (SUCH AS FIDUCIARY, TRUST OR CONFIDENTIAL
RELATIONSHIPS); (D) ALLEGATIONS OF DOMINION, CONTROL, ALTER EGO, INSTRUMENTALITY, FRAUD, REAL
ESTATE FRAUD, MISREPRESENTATION, DURESS, COERCION, UNDUE INFLUENCE, INTERFERENCE OR NEGLIGENCE;
(E) ALLEGATIONS OF TORTIOUS INTERFERENCE WITH PRESENT OR PROSPECTIVE BUSINESS RELATIONSHIPS OR OF
ANTITRUST; OR (F) SLANDER, LIBEL OR DAMAGE TO REPUTATION. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS
GIVEN KNOWINGLY, INTENTIONALLY AND VOLUNTARILY BY INDEMNITORS, AND IS INTENDED TO ENCOMPASS
INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE
ACCRUE. LENDER IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS
CONCLUSIVE EVIDENCE OF THIS WAIVER BY INDEMNITORS. INDEMNITORS ACKNOWLEDGE THAT NEITHER LENDER NOR
ANY PERSON ACTING ON BEHALF OF LENDER HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF
TRIAL BY JURY OR HAS TAKEN ANY ACTION WHICH IN ANY WAY MODIFIES OR NULLIFIES ITS EFFECT.
INDEMNITORS ACKNOWLEDGE THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO THE LOAN, THAT
LENDER HAS RELIED ON THIS WAIVER IN ENTERING INTO THE LOAN DOCUMENTS AND THAT LENDER WILL CONTINUE
TO RELY ON THIS WAIVER IN ITS FUTURE DEALINGS. INDEMNITORS FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN
REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS AGREEMENT AND
ANY OTHER LOAN DOCUMENTS THAT INDEMNITORS HAVE ENTERED INTO AND IN THE MAKING OF THIS WAIVER BY
INDEPENDENT LEGAL COUNSEL, SELECTED OF THEIR OWN FREE WILL, AND THAT THEY HAVE HAD THE OPPORTUNITY
TO DISCUSS THIS WAIVER WITH COUNSEL.

Section 6.8. Reliance. Indemnitors recognize and acknowledge that in entering into
the loan transaction evidenced by the Loan Documents and accepting the Security Instrument, Lender
is expressly and primarily relying on the truth and accuracy of the warranties and representations
set forth in this Agreement without any obligation to investigate the Property and notwithstanding
any investigation of the Property by Lender; that such reliance exists on the part of Lender prior
hereto; that such warranties and representations are a material inducement to Lender in making the
loan evidenced by the Loan Documents and accepting the Security Instrument; and that Lender would
not be willing to make the loan evidenced by the Loan Documents and accept the Security Instrument
in the absence of such warranties and representations.

Section 6.9. Headings. The article, section and subsection headings are for
convenience of reference only and shall in no way alter, modify, or define, or be used in
construing the text of such articles, sections or subsections.

Section 6.10. No Oral Change. This Agreement may not be waived, extended, changed,
discharged or terminated orally, or by any act or failure to act on the part of Indemnitors or
Lender, but only by an agreement in writing signed by the party against whom the enforcement of any
modification, amendment, waiver, extension, change, discharge or termination is sought.

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SIGNATURE PAGE FOLLOWS]

1

EXECUTED as of the date first above written.

	 
	 

	BORROWER:

	 	 	 
	NNN Lenox Medical, LLC, a Delaware limited liability company

	 
	 	 
	By:

	 	NNN Lenox Medical Member, LLC, a Delaware limited

liability company, its sole member
	 
	 	 
	By:

	 	Triple Net Properties, LLC, a Virginia limited liability

company, its sole member
	 
	 	 
	
 
	 	By: /s/ Richard Hutton
	
 
	 	 
	
 
	 	Name: Richard Hutton
	
 
	 	 
	
 
	 	Its: Executive Vice President
	
 
	 	 
	 
	 	 

2

GUARANTORS:

NNN REALTY ADVISORS, INC., a Delaware corporation

	 	 	 
	By: /s/ Jeff Hanson

	 	

	 
	 	 
	 

	 
	 	 
	Name: Jeff Hanson

	 	

	 
	 	 
	 

	 
	 	 
	Its:

	 	CIO
	
 
	 	 

3

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